The Federal Tax Service (FNS) has announced plans to tax Russian crypto miners on unrealized gains, meaning they may need to pay taxes on coins they have not yet sold.
According to the Russian newspaper Vedomosti, the FNS intends to implement a “two-stage” tax systеm for crypto miners.
Alexey Katyayev, head of the Interregional Inspectorate for the FNS’s “Largest Taxpayers” group, shared these plans during a meeting with the newly formed Industrial Mining Association.
However, Katyayev acknowledged that although tax officials aim to apply a “classical systеm” to miners, “no final decision has been made” on this issue.
In discussing Moscow’s crypto tax plans, Katyayev mentioned the possibility of requiring miners to make “advance payments on mined cryptocurrency.” This would represent the “first stage” of the tax systеm and would become due once miners receive coins in their crypto wallets.
According to the FNS, a taxable event would occur “once the miner has the right to dispose of their cryptoassets,” even if the mined cryptocurrency is still held in a mining pool and not transferred to a personal wallet.
Katyayev also outlined a “second stage,” which would apply when miners transfer coins out of corporate wallets or sell cryptocurrency.
