The Russian government has approved amendments to the Tax Code aligning it with a draft law on digital currencies and digital rights, introducing VAT exemptions, revised personal income tax (PIT) rules, and changes to corporate income tax treatment of digital financial instruments.
The Government of the Russian Federation has approved amendments to the Tax Code at a government meeting held on 29 April 2026, aligning its provisions with a draft federal law establishing comprehensive regulation for the organisation and circulation of digital currencies and digital rights in the Russian Federation under the framework of Tax Regulation and Tax Incentives for Digital Financial Instruments.
Certain transactions exempted from VAT
The amendments to the Tax Code propose exempting from VAT the sale of non-deliverable foreign digital rights that certify exclusively monetary claims. Services provided by digital custodians and organisations engaged in the exchange of digital currency will also be exempt from tax.
Improved personal income tax (PIT) rules
Brokers and trust managers making payments on transactions involving digital currency and foreign digital rights will act as tax agents for PIT purposes.
For individuals, a “netting” mechanism is introduced, allowing the offset of positive and negative financial results from transactions with digital currency and foreign digital rights within a single tax period (without carrying losses forward to future periods).
For debt digital financial assets (DFAs) traded on the exchange market, provisions are made for carrying forward losses to future tax periods, as well as offsetting them against financial results from securities and derivative financial instruments. This provision will enter into force with a delay, aligned with the expected stable functioning of organised trading in digital financial assets.
Corporate income tax changes
Income and expenses from transactions with digital currency (excluding mining), conducted under foreign trade contracts (for example, import payments in cryptocurrency), will be included in the general corporate income tax base. For tax purposes, foreign digital rights are equated with digital currency.
Periodic payments on debt DFAs (not related to redemption) will be included in the general corporate income tax base, similar to interest income on loans.
Income in the form of periodic payments on rouble-denominated debt DFAs issued by Russian entities and traded on an organised market will be allocated to a separate tax base and subject to a preferential tax rate, similar to interest on bonds of Russian organisations traded on the organised securities market. Criteria will be introduced for recognising debt DFAs as traded on the Russian organised (exchange) market, mirroring rules applicable to securities
Companies will be allowed to include income and expenses from the redemption of debt DFAs traded on the Russian exchange market in the tax base, even if the transaction occurs off-exchange, provided that the transaction price does not significantly deviate from the weighted average exchange price on the same day.
Broader regulatory context
These amendments represent the next step in developing a comprehensive legal framework for digital assets in Russia. The regulation is part of efforts to formalise certain sectors of the economy. It is expected to improve market transparency, strengthen protection of participants’ rights, establish adequate transaction security standards, increase investor interest in the sector, and reinforce Russia’s position in the development of the digital economy.
This announcement was made on 29 April 2026.
