Russia approves crypto taxation plan, uses FIFO for billing and bans loss carryforwards
According to an official announcement from Russia, on April 27, the Russian government’s Legislative Committee approved the Ministry of Finance proposal to treat digital currency transactions as taxable income. The plan uses the First-In, First-Out (FIFO) method to calculate cost and stipulates that losses resulting from digital currency transactions cannot be carried over to future tax periods. On April 21, the Russian State Duma passed, in first reading, the government bill titled “On Digital Currencies and Digital Rights,” with 327 votes in favor, 5 against, and 8 abstentions.
MarketWhisper·04-28 01:54






