Titov has proposed to make the tax rate on mining less than 14%

Presidential Commissioner for protection of entrepreneurs ‘ rights Boris Titov has proposed to introduce in Russia the tax on mining with a certain level of capacity.

He stressed that the tax rate should be slightly less than the VAT for innovative companies, i.e. less than 14%

According to the Ombudsman, technically this can be done by installing a small block in the «mining processor» – it will directly deduct on account of tax service a percentage of the transaction.

Titov also supports the need to enshrine in law about cryptocurrency definition of «blockchain technology», «token» and «mining», to regulate the digital currency, equating to a foreign, and then allowing the citizens to keep crypto-currency accounts and freely exchange it.

«Now there is no regulation as such. As a result, our companies are registered in Japan. A national approach a storm from all the ban to the desire to create a Russian criptural,» – said Titov.

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