The Russian Ministry of Finance is considering the possibility of introducing an excise tax on electricity for cryptocurrency miners. This is what it says TASS Referring to the statements of Deputy Minister of Finance Ivan Chebeskov.
According to the agency, the ministry is in favor of introducing a tax on the extraction of cryptocurrencies. In the first stage, this could be an indirect tax on electricity consumed by miners.
“Our target picture is still taxation of profits. This is a long-term goal. Like everyone else, like all our businesses, we understand that this is the right design in principle. Taxation in the form of SCT may be an interim design, but no decision has been made yet,” said the deputy minister.
The official explained that it is easier to estimate electricity consumption than the cost of the cryptocurrency mined, as miners may not disclose their entire wallets.
In early September, it became known that Russia has become one of the world leaders in mining, thanks to the abundance of energy resources in Siberia. In particular, the interest of foreign investors in the sector is growing.
Previously in Russia offered Limit crypto mining in Siberia.