Cryptocurrency and taxes: analysis and expert opinions


Cryptocurrency and taxes: analysis and expert opinions

With the advent of cryptocurrencies and income opportunities through a new financial instrument the level of undeclared income of the population increased significantly. Such a situation does not please the government and not cause a smile on the faces of the valiant employees of the tax. About whether to honestly declare their income, and the control of the authorities in material Bitmapfonts.

Cryptogenic and control

Unfortunately the crypto community, the tax controls the receipt of funds to accounts of citizens. But the state does not have the resources to effectively handle all the data array, which is daily brought before them. To create a control, you must at least arm themselves with big data and completely change the very structure of the work on monitoring turnover of income.

At the beginning of summer in the circles of cryptomonadales and freelancers had been news, according to which tax will soon begin to call everyone to the explanation of the source of their income. In fact, it was another duck, the roots of which grow out of incorrect interpretation of one of the decrees of the government.

Despite the fact that legislation in the field of cryptocurrencies has not yet formed, this does not mean that the tax on income from cryptocurrency do not need to pay. Yes, most likely, interest to regulatory authorities represent only individuals, the cumulative turnover of undeclared Finance which significantly exceeds the average. Accordingly, the miner or cryptotriton, earning in a month the amount of about 30-100 thousand rubles, rather, not interest checking.

Resourceful citizens in the case of interest in undeclared income to come up with original explanations. For example, a translation of the previously deferred money a wife (to such an explanation cannot bind the prosecution in the skimming of funds from taxes).

The opinion of the forensic expert, managing partner Vallaw, a graduate Blockchain Lawyers, Natalia Manuilova:

Currently, the definitions of the relevant categories of objects and subjects of tax control no. The private trader – it is necessary to calculate the basis for taxation to pay the tax, preferably with the same Bank account, and “sleep”. Any doubts and uncertainty in the law be interpreted in favor of the taxpayer. The purpose of the Agreement from 15.10.2015 No01-01-14/22440/MMV-23-2/77 between Rosfinmonitoring and the Federal tax service of Russia is cooperation in the prevention, detection and suppression of illegal financial operations and tax revenue in the budget of the Russian Federation. Thus, if a person not involved in criminal schemes – questions should be excluded. Problems may arise in capturadora who trade in the interests of third parties. the service’s 2014 informed that the use of cryptocurrency in transactions is the basis for consideration of the assignment of such transactions to transactions aimed at counteracting legalization (laundering) of incomes obtained in a criminal way and financing of terrorism. However, instructions for blocking of a Bank card accounts this letter does not contain.

The transfer of cryptocurrency to Fiat

Unfortunately, until we can pay only in bitcoin and have to transfer funds in Fiat. And the time when the bakery around the corner will begin to accept bitcoins, apparently, not close. Convert large amounts just may be the reason for the issues with the tax. Universal advice from experienced cryptomonadales, in this case, may be the following:

1. You must give preference to online payment systems (including foreign), which are less subject to tax (for example, Webmoney);

Important! Services such as Yandex money, in the same way as other financial institutions, subject to 115 FZ. It forces him to assist in investigations related to money laundering. Accordingly, the interests of Yandex in the results its users are significantly higher than foreign services.

2. If necessary to complete a large translation, the best solution is its division into several parts, which can then be distributed on several cards.

However, the situation with the ability to spend bitcoin without the need to transfer to Fiat gradually aligned: we are currently working on a large number of projects whose primary purpose is to eliminate the boundaries between digital money and their traditional counterparts. In any case, the growing demand increases the pace of work in this direction.

Khachatur Ghukasyan, co-founder and CEO Zichain, believes that everyone should report their income, regardless of their source:

Taxes you have to pay always is the basis for any law-abiding citizen. Under Russian law, a citizen receiving income should pay him a tax of 13%. Russian taxation is global, i.e. a citizen who is a Russian tax resident pays tax on any income earned anywhere around the globe.

Cryptocurrency is an asset, the only difference is that it is not regulated by the state. Despite this, the citizen, invested 100 and earned at the same time, even penny must go and report this income and pay the same 13%.. If we’re talking about digital assets, there are important nuances associated with how a person buys or sells bitcoin, counterparty transactions, and whether it complies with the legislation of the Russian Federation, applicable also to foreign residents. If a citizen is a trustworthy resident of the Russian Federation, the tax status for him is that any profits derived by a resident shall be taxed at a rate of 13%. Thus, if the cryptocurrency is happening in the country, than Russia, tax resident should go and report your income and pay the tax.


Thus, today, the interest of the tax service against kleptoparasitism is not so obvious. Furthermore, it is elaborated from the point of view of the law, the basis for the regulation of such financial relations. However, with further increase in undeclared revenues of the state structures will start to pay attention to this sector.

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