Mikhail Uspenskiy

Home / Services / Cryptocurrency taxation

Cryptocurrency taxation

Support on tax questions arising from digital-currency turnover: determining the tax base on transactions, taxing currency mined through mining, preparing reporting, and supporting tax-control measures. Engagement with the tax authorities is underpinned by work on the Public Council at the Moscow Directorate of Russia’s Federal Tax Service (FNS).

Individuals

Individuals and sole traders

Calculating personal income tax on digital-currency transactions: identifying income and documented expenses, choosing a correct conversion rate, preparing the return. Separately — regimes for individual entrepreneurs and limits of special tax regimes.

Companies

Companies

Corporate profit tax on digital-currency transactions, reflecting operations in the accounts, tax aspects of holding infrastructure and contractual arrangements with foreign counterparties.

Mining

Mining

Taxation of mined digital currency for miners and pool participants — timing of income recognition, valuation, subsequent disposal. See also Mining, pools, hashrate.

Reporting

Cryptocurrency wallet reporting

From 1 May 2027 a duty to submit information on cryptocurrency wallets is introduced. Preparing for the new reporting regime: asset inventory, scope and procedure for disclosure. Legal context — on the page of Law No. 282-FZ and companion Law No. 283-FZ.

Disputes

Tax disputes

Supporting desk and field audits, preparing responses to information requests, pre-trial appeals and court defence in disputes involving digital currency.

Questions

Common questions

Must one pay tax when selling cryptocurrency?
Yes. Income from disposal of digital currency is taxable: personal income tax for individuals and corporate profit tax for organisations. The tax base is determined taking into account documented acquisition costs.
How to determine the tax base if cryptocurrency was bought at different times and prices?
Expenses are accounted for sequentially by acquisition lots. The key task is to reconstruct and document the purchase history: exchange statements, banking documents, contracts. The fuller the cost evidence, the lower the base.
At what rate should income be converted into roubles?
Income is converted into roubles as of the date it is received. The choice of quote source must be consistent and reasoned — this is a typical point of dispute with the tax authority, and the position should be fixed in advance.
Does tax arise when exchanging one cryptocurrency for another?
Exchange of one asset for another is a disposal and may give rise to taxable income. This is one of the most underestimated risk areas for active market participants.
How is mining income taxed?
Mined digital currency forms income that is recognised and valued under established rules; on later sale, tax is calculated separately taking into account previously recognised income. For industrial miners the correct choice of organisational form is critical — more on the page Mining, pools, hashrate.
What is wallet reporting and when does it start?
The duty to submit information on cryptocurrency wallets is introduced from 1 May 2027. Preparation should start early: inventory addresses and assets and determine which information must be disclosed and in what order.
Can the FNS see my cryptocurrency transactions?
Tax authorities’ toolkit is expanding: banking control, international information exchange, open-blockchain analytics, and from 2027 — wallet reporting. A strategy of “invisibility” loses to a strategy of correct structuring.
What are the consequences of unpaid tax on crypto transactions?
Tax assessments, late-payment interest and fines, and for large amounts — a risk of criminal-law characterisation. Voluntary declaration before control measures begin materially reduces risk.
Can losses on cryptocurrency transactions be offset?
Whether losses can be taken into account depends on the taxpayer’s status and the nature of the transactions. This requires individual analysis — generic answers here are often wrong.
How to declare income from prior years?
By filing returns for the relevant periods and reconstructing the documentary base. The sequence of steps and a risk assessment for prior periods should be set before filing, not after the inspectorate’s questions.
Next

Related practice — mining taxation and FNS disputes. Wallet reporting and the statutory framework — on the page of Law No. 282-FZ. Complex mandates are delivered with Parallax.

Contact Message on Telegram
SALE
Dining Chair by esteban+moreno
With a new design approach for flexible use: from a dinner for two to a big celebration.
£
79
£
200
Underwater wearable watches
An accessory for any occasion, from a nice dinner to an underwater swim.
£
90
Sac Marin Yellow
Marinetmarine store backpack. The Sac Marin can be worn as a backpack or as a bag over one shoulder.
£
108
More products
SALE
Dining Chair by esteban+moreno
With a new design approach for flexible use: from a dinner for two to a big celebration.
£
79
£
200
Underwater wearable watches
An accessory for any occasion, from a nice dinner to an underwater swim.
£
90
Sac Marin Yellow
Marinetmarine store backpack. The Sac Marin can be worn as a backpack or as a bag over one shoulder.
£
108
More products
Made on
Tilda