Russia introduces new tax tool for crypto miners
The FTS tool allows Russian miners to determine income and taxes based on digital currency market prices.
Russia’s Federal Tax Service (FTS) has introduced a new online tool to assist crypto miners in calculating their taxes. The tool offers exchange rate data for cryptocurrencies. It helps miners calculate income based on the minimum closing price in rubles on specific dates.
While the tool currently includes data from seven exchanges, such as Binance and ByBit, some major coins like Ethereum (ETH) are missing from the database.
Despite its limitations, the resource aims to simplify the calculation of tax liabilities for digital currency transactions. The FTS emphasises that taxpayers must…
