title: Tax regulation of virtual currencies circulation: Foreign countries experience and prospects for Russia
metadata.name: dc.contributor.author
metadata.value: Kochergin, Dmitry A.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Pokrovskaia, Natalia V.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Dostov, Viktor L.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2020-04-28T14:05:24Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2020-04-28T14:05:24Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2020-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Kochergin D. A., Pokrovskaia N. V., Dostov V. L. (2020) Tax regulation of virtual currencies circulation: Foreign countries experience and prospects for Russia. St Petersburg University Journal of Economic Studies, vol. 36, iss. 1, pp. 49–76.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu05.2020.103
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/17419
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This paper explores tax regulation of virtual currencies (VC) as a new class of digital assets.
  The relevance of the topic is due to wide development in the world of virtual currency operations
  in the absence of a unified interpretation of virtual currencies and in the absence of
  generally accepted regulation of digital assets. The research aims to identify economic and
  legal interpretations of virtual currency and to determine taxation of virtual currencies in foreign
  countries and drafting recommendations on taxation of virtual currencies transactions
  in Russia. Based on a study of tax regulation of virtual currencies in Singapore, UK, USA,
  Japan, and Germany, interpretations of virtual currencies are determined and their tax consequences
  are disclosed. We conclude that in countries analyzed, the interpretations of virtual
  currencies differ not only at the national level, but also at the level of regulatory authorities.
  The study did not find a correlation between taxation of virtual currencies and regulation
  of VC in monetary systems. In most countries, incomes from virtual currencies are subject
  to corporate taxes and the burden of taxation is defined by the domestic corporate taxation
  approach. The authors conclude that in Russia, implementation of best global practices should
  be complemented by specifics of domestic direct and indirect taxation. The paper suggests
  that incomes from virtual currencies be subject to corporate income tax but exempted from
  personal income tax. Transactions using virtual currencies should be exempted from VAT but
  without necessarily recognizing virtual currencies as official mean of payment.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 36; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: virtual currencies
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: cryptocurrencies
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: crypto-assets
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: digital financial assets
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: tax regulation
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: virtual currency taxation
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: cryptocurrency taxation
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: digital financial assets taxation
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Tax regulation of virtual currencies circulation: Foreign countries experience and prospects for Russia
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 49-76.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/17419/1/49-76.pdf
resources.format: Adobe PDF
resources.size: 774,58 kB