Frankmedia - The Arbitration Court of the Rostov Region rejected the claim of an individual entrepreneur who contested the additional assessment of over 5.4 million rubles in tax under the simplified taxation system (STS). The Federal Tax Service considered his transactions with cryptocurrency, conducted through personal bank cards, as entrepreneurial activity. This case was highlighted by 'RBK Crypto'.
According to the individual entrepreneur, he conducted transactions as a private person and declared his income in the form of personal income tax (PIT). The court did not accept these arguments, noting that the nature of the transactions meets the criteria of entrepreneurial activity, and income should be accounted for under the rules of the simplified system.
The case materials indicate that in 2022, 143.6 million rubles were credited to the plaintiff's accounts, of which 92.5 million were recognized as taxable income. The entrepreneur purchased cryptocurrency through foreign accounts, including in Turkey, and then sold it to Russian users with crediting to personal bank cards. The court deemed that such a scheme has signs of systematic profit extraction, and therefore should be taxed under the STS.
What do experts say?
The founder of the legal firm GMT Legal, Andrey Tugarin, stated that the entrepreneur was effectively engaged in cryptocurrency arbitration through Russian and Turkish banks, and the additional tax assessment and accusation of illegal business are among the highest risks of such a scheme.
At the same time, nothing has changed in the legal field, and there is no mass persecution for such schemes, assured the founder of the legal agency Cartesius, Ignat Likhunov. 'It has always been this way, nothing has changed in terms of laws. Another matter is that the practice of prosecuting ordinary cryptocurrency users, like here, is practically nonexistent. These are one-off cases where the stars align. Here, they aligned because the person was an individual entrepreneur and was 'trading' through personal cards,' the expert explained. In May, the director of the legal department of the Bank of Russia, Andrey Medvedev, reported that a draft law introducing fines for cryptocurrency payments had been submitted to the State Duma. For individuals, they can be up to 200,000 rubles, and for companies - up to 1 million rubles.
In late May, the Bank of Russia allowed qualified investors to trade financial instruments linked to cryptocurrencies. At the same time, the Central Bank recommended refraining from direct investments in digital assets.
Source: Investing.com
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