MOSCOW, November 26. /TASS/. The State Duma, the lower house of the Russian parliament, passed in second and third readings the law on digital currency taxation.

The document was initiated by the Russian government. According to the law, the digital currency (including the digital currency used as a payment instrument as part of the experimental legal regime in the sphere of digital innovations) is recognized as the property for purposes of the Russian internal revenue code. Transactions of digital currency mining and sales will not be subject to VAT.

A mining infrastructure operator will be required to communicate data of persons mining with the use of its infrastructure to tax authorities.

Revenues in the form of the digital currency received as a result of digital currency mining in Russia will be recognized as earnings forming the taxation base for the personal income tax. Digital currency mining will be subject to a standard rate of the corporate income tax, department head of the Russian Finance Ministry Danil Volkov said earlier.