Russia plans 30% tax on non-residents’ crypto income

Russia’s Finance Ministry has drafted amendments to the Tax Code that would charge a 30% personal income tax on crypto income earned by non-residents and a 13–22% progressive rate for residents. The draft was approved by a federal government commission on legislative activity and is intended to align tax rules with pending digital-asset legislation.

The proposal creates a new article setting out how personal income tax will apply to profits from the sale or other disposal of digital assets, including exchanges into fiat currency. The taxable base is defined as the positive difference between revenues from crypto transactions and deductible expenses such as acquisition costs, intermediary fees and storage expenses.

The draft exempts services provided by digital depositories, exchanges and related trading and issuance services from value-added tax. It also separates income from investment and trading in digital assets from income derived from mining.

Mining has already been regulated since late 2024. Entities engaged in mining must register with the Federal Tax Service. From Jan. 1, 2025, mining income received by legal entities is subject to corporate income tax at 25%. Individual miners and sole proprietors report mining income as part of general income and pay personal income tax on a progressive scale between 13% and 22%, while non-resident miners are taxed at 30%.

Under the new draft, the resident and non-resident rates used for mining would apply to other crypto transactions. Intermediaries such as brokers and trustees would be responsible for withholding taxes owed by their clients and transferring those amounts to the state budget.

The Finance Ministry says the changes are meant to close gaps that left many cryptocurrency transfers untaxed and to bring more activity onto the regulated market.

The amendments align with the federal bill “On Digital Currency and Digital Rights,” which has passed a first reading in the State Duma. Lawmakers plan to adopt the broader package of laws, which legalizes cryptocurrencies but limits the regulated market to the largest coins, by July 1, 2026.

Supporters of the draft say it will curb tax evasion and increase transparency in the crypto sector. Vladimir Gruzdev, chairman of the Board of the Association of Lawyers of Russia, described the amendments as a tool to reduce unpaid taxes. Alexey Istomin, a partner at Pareto Legal, noted the mechanism treats digital financial assets similarly to traditional financial instruments without raising the overall tax burden. Denis Polyakov, head of digital economy practice at GMT Legal, observed the bill closes existing gaps in crypto taxation.

Critics point to remaining legal and practical obstacles. Dmitry Machikhin, founder and CEO of compliance platform BitOK, warned authorities still need to identify taxable holders and establish conditions that will encourage owners to declare assets. Observers also noted that limiting the regulated market to a small set of major coins could leave many transactions outside the official framework.

The draft will be considered by lawmakers and regulators as they finalize Russia’s digital-asset legal framework ahead of the July 2026 deadline.