UTC-05:00,Friday , December 04th 2020

Russian Traders Gear Up For 'Head Spinning' Crypto Tax Season

21:17 Tuesday , June 30th 2020
Russian crypto owners have been warned that they have just a month before the taxman comes calling – with miners, custodians and traders all required to declare their profits.
Although the country is likely still "a year or more" away from comprehensive crypto laws, the tax code has been changed in time for this year's tax season – meaning that anyone in Russia making money from crypto in 2019 is legally obliged to report their earnings.
Per RBC, Russians were originally required to submitting tax declaration documents – including details of their crypto earnings – by early next month, although a new deadline of July 30 has been set due to the disruption caused by the coronavirus pandemic. Individuals will be taxed at a flat rate of 13%.
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