When the crypto taxation rules go into effect, do I need to prepare now?

KrisMor · 24 May 2021, 20:23

The cryptocurrency transaction tax bill was supposed to come into force this year. However, lawmakers have not yet fully decided on the approaches to such operations and the very essence of cryptocurrencies, so the approval of the project may be delayed (however, when the issue concerns tax revenues to the budget, it is resolved quickly in our country). Nevertheless, we can already study what changes are planned to be adopted. Among them are the following:

the obligation to inform the tax authorities about transactions with cryptocurrency if they have exceeded 600 thousand rubles in a year. Not informed - a fine of 10%.
The duty to inform about the cryptocurrency even in the absence of its movement, if you received the right to dispose of it (that is, you received a private key). Do not inform the tax office - a fine of 50 thousand rubles. You need to report by April 30 next year.
Cryptocurrency is recognized as property, but not subject to VAT. Personal income tax by individuals and income taxes by legal entities must be paid. They did not pay - a fine of 40%.
in what order to take the rate for converting the value of the cryptocurrency into rubles has not yet been reported, this issue will be resolved later.
In addition, at the end of 2020, a draft of changes to the Criminal code. According to it, without informing about large amounts of cryptocurrency (from 15 million rubles), you can get from a fine of 100-300 thousand rubles until the real term for 4 years (with amounts of 45 million, or collusion of persons, or the use of shell companies).
There is currently no requirement to report cryptocurrency transactions. If the draft changes are accepted, you will have time to do it. Without informing the tax authorities, you cannot benefit from judicial protection in connection with the ownership of cryptocurrency (paragraph 6 of Article 14 of the Law). But you can’t inform us yet, with all your desire - the procedure for such informing has not yet been approved.