The Russian government approves an amendment to the tax law on digital currencies

The Russian Ministry of Finance announced that the government approved an amendment to the tax law on the domestic circulation of digital currencies and digital rights.
The bill introduces a number of tax measures for digital asset transactions. Sales of non-deliverable foreign digital rights specifically evidencing monetary claims, as well as services provided by digital custodians and digital currency exchange organizations, will be exempt from VAT.
Under the new framework, brokers and trustees who make payments involving transactions involving digital currencies or foreign digital rights will be required to act as personal income tax agents.
Individual taxpayers will be allowed to offset gains and losses from digital currency and digital rights transactions in the same tax period, but carry forward losses will not be allowed.