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Golden Finance reports that Russia is preparing to integrate the digital ruble into its tax system, and legislation will be introduced before the end of the year. The State Duma Budget and Taxation Committee has reportedly approved a private member's bill aimed at amending the tax code. Lawmakers said the amendment would allow the tax agency to “integrate the digital ruble” into Russia’s “tax supervision and control system.”
The bill will introduce concepts such as "digital ruble wallets" into the tax code. It also provides that “operations related to the opening and maintenance of digital ruble wallets” 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 fees.