<![CDATA[<figure class="image"><img src="https://cimg.co/news/125206/330751/3rus-1909.jpeg" alt="A person fills in a Russian tax return, holding a pen. Next to the form is a small pile of Russian banknotes and a calculator. The person presses a key on the calculator." srcset="https://cimg.co/news/125206/330751/responsive-images/3rus-1909___media_library_original_1500_973.jpeg 1500w, https://cimg.co/news/125206/330751/responsive-images/3rus-1909___media_library_original_1200_778.jpeg 1200w, https://cimg.co/news/125206/330751/responsive-images/3rus-1909___media_library_original_900_584.jpeg 900w, https://cimg.co/news/125206/330751/responsive-images/3rus-1909___media_library_original_720_467.jpeg 720w, https://cimg.co/news/125206/330751/responsive-images/3rus-1909___media_library_original_600_389.jpeg 600w, https://cimg.co/news/125206/330751/responsive-images/3rus-1909___media_library_original_300_195.jpeg 300w" width="1500" class="content-img"><figcaption>Source: tramp51/Adobe</figcaption></figure><a href="https://cryptonews.com/tags/russia/">Russia</a> is set to &ldquo;integrate&rdquo; its <a href="https://cryptonews.com/tags/CBDC">CBDC</a>, the <a href="https://cryptonews.com/news/russian-regions-welcome-digital-ruble-developments-but-when-will-cbdc-debut.htm">digital ruble</a>, into its tax system, with legislation set to roll out before the year&rsquo;s end.Per <a href="https://1prime.ru/finance/20230918/841772609.html" rel="nofollow">Prime</a>, the State Duma&rsquo;s Committee on Budgets and Taxes has approved a private member&rsquo;s bill that seeks to amend the Tax Code.The amendment will allow tax bodies to &ldquo;integrate the digital ruble&rdquo; into Russia&rsquo;s &ldquo;system of tax regulation and control,&rdquo; lawmakers said.The bill will introduce concepts such as &ldquo;digital ruble wallets&rdquo; into the Tax Code.It will also dictated that &ldquo;operations related to the opening and maintenance of digital ruble wallets&rdquo; are exempt from VAT.The draft law will also require parties to keep records of transactions and income in digital yuan wallets, as well as CBDC-related expenses.The judiciary, meanwhile, will be allowed to issue foreclose orders on digital ruble wallets in bankruptcies and similar cases.The committee has approved the bill, which was brought forward by the lawmakers Anatoly Aksakov and Olga Anufriyeva and the senator Nikolai Zhuravlev.<figure class="image"><img alt="Portrait photos of The Russian lawmaker Anatoly Aksakov, fellow lawmaker Olga Anufriyeva, and Senator Nikolai Zhuravlev." src="https://cimg.co/news/125206/330752/rus-pol-1.jpg" srcset="https://cimg.co/news/125206/330752/responsive-images/rus-pol-1___media_library_original_2000_660.jpg 2000w, https://cimg.co/news/125206/330752/responsive-images/rus-pol-1___media_library_original_1200_396.jpg 1200w, https://cimg.co/news/125206/330752/responsive-images/rus-pol-1___media_library_original_900_297.jpg 900w, https://cimg.co/news/125206/330752/responsive-images/rus-pol-1___media_library_original_720_238.jpg 720w, https://cimg.co/news/125206/330752/responsive-images/rus-pol-1___media_library_original_600_198.jpg 600w, https://cimg.co/news/125206/330752/responsive-images/rus-pol-1___media_library_original_300_99.jpg 300w" width="2000" class="content-img"><figcaption>(From left to right) The Russian lawmaker Anatoly Aksakov, fellow lawmaker Olga Anufriyeva, and Senator Nikolai Zhuravlev. (Source: Duma.gov.ru, Federation Council of the Federal Assembly [<a href="https://creativecommons.org/licenses/by/4.0/" rel="nofollow">CC BY 4.0</a>])</figcaption></figure>Aksakov is the chief architect of Russia&rsquo;s crypto legislation and the head of the Duma&rsquo;s Financial Markets Committee.He has <a href="https://cryptonews.com/news/top-lawmaker-suggests-china-russias-cbdcs-are-compatible.htm">previously spoken of the CBDC&rsquo;s cross-border potential</a>.Anufriyeva, meanwhile, is a former DeputyMinister of Taxes and Duties.And Zhuravlev is the former CEO of the Russian megabank Sovcombank.<h2 id="russia-drafting-cbdc-tax-laws">Russia Drafting CBDC-Tax Laws</h2>The bill will be submitted before the Duma on September 20 for its first reading.If approved, it will then be re-submitted for a second reading.<figure class="image"><img src="https://cimg.co/news/125206/330753/moscow.jpg" alt="The exterior of the headquarters of the Russian Federal Tax Service in Moscow." srcset="https://cimg.co/news/125206/330753/responsive-images/moscow___media_library_original_640_424.jpg 640w, https://cimg.co/news/125206/330753/responsive-images/moscow___media_library_original_600_398.jpg 600w, https://cimg.co/news/125206/330753/responsive-images/moscow___media_library_original_300_199.jpg 300w" width="640" class="content-img"><figcaption>The headquarters of the Russian Federal Tax Service in Moscow. (Source: Racoon)</figcaption></figure>If it then receives presidential approval, the bill could &ndash; in theory &ndash; promulgate on January 1, 2024, if not sooner.<figure class="image"><img src="https://cimg.co/news/125206/330755/russia-tax.jpg" alt="A graph showing Russia&rsquo;s tax revenue as a percentage of the nation&rsquo;s GDP from 1999 to 2021." srcset="https://cimg.co/news/125206/330755/responsive-images/russia-tax___media_library_original_1123_621.jpg 1123w, https://cimg.co/news/125206/330755/responsive-images/russia-tax___media_library_original_900_498.jpg 900w, https://cimg.co/news/125206/330755/responsive-images/russia-tax___media_library_original_720_398.jpg 720w, https://cimg.co/news/125206/330755/responsive-images/russia-tax___media_library_original_600_332.jpg 600w, https://cimg.co/news/125206/330755/responsive-images/russia-tax___media_library_original_300_166.jpg 300w" width="1123" class="content-img"><figcaption>Russia&rsquo;s tax revenue as a percentage of the nation&rsquo;s GDP. (Source: World Bank [<a href="https://creativecommons.org/licenses/by/4.0/" rel="nofollow">CC BY 4.0</a>])</figcaption></figure>Earlier this week, the Central Bank claimed that its digital ruble project was<a href="https://cryptonews.com/news/russian-central-bank-digital-ruble-doesnt-use-biometric-data.htm"> &ldquo;entirely separate&rdquo; from efforts to launch a biometrics-powered identification platform</a>.The CBDC pilot got underway in mid-August in <a href="https://cryptonews.com/news/russian-banks-mts-psb-say-customers-are-now-using-digital-ruble.htm">11 cities nationwide</a>.
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Russia to ‘Integrate’ Digital Ruble With Tax Code – Moscow Forges Ahead with CBDC

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