The Russian Ministry of Finance proposed to impose value-added tax on cross-border Mining services.

According to the Gate.io News bot, RBC reported that the Russian Ministry of Finance has submitted a bill that plans to impose value-added tax (VAT) on domestic enterprises leasing mining equipment and providing real-time computing power services to foreign clients. The bill addresses the issue of VAT applicability for Russian taxpayers when providing mining infrastructure to foreign clients.

According to statistics from the Russian Federal Tax Service, there are currently 606 registered miners and 116 mining infrastructure operators nationwide. The data shows that the mining industry generates approximately 50 billion rubles in tax revenue for Russia each year.

Source: Wu Says