Russian President Putin Signs Law Regulating Digital Ruble Taxation

According to Foresight News, Russian President Vladimir Putin has signed a law that incorporates the digital ruble into the tax regulation and control system. As reported by Russian media Telesputnik, the tax authorities now have the power to suspend transactions of digital ruble accounts and request platform operators to provide documentation confirming the deduction of funds from taxpayers' accounts and their transfer to the Russian Federation's budget system. Furthermore, the law outlines the obligations of digital ruble platform operators and stipulates the liabilities for non-compliance with these obligations. It also establishes rules for taxing digital ruble transactions, including exempting value-added tax (VAT) on transactions for opening and maintaining accounts, as well as using digital currency platforms for fund transfers.