LEGAL REGULATION OF TAXATION OF CRYPTOCURRENCY TURNOVER: A COMPARATIVE LEGAL STUDY OF THE TAX AND LEGAL REGULATION OF THE STATE OF ISRAEL AND THE RUSSIAN FEDERATION

The article discusses the features of the tax and legal regulation of cryptocurrencies in the State of Israel and the Russian Federation. The article raises the problem of identifying gaps in the legal regulation of the Russian Federation in terms of regulating the taxation of cryptocurrency turnover in comparison with the legal regulation of cryptocurrency turnover in the State of Israel. The objects that were identified by the author within the framework of this study are determined based on the analysis of the theoretical and practical experience of the State of Israel in the tax and legal regulation of cryptocurrency turnover. A study of the legislation of the State of Israel in terms of regulating the turnover of cryptocurrencies is conducted. A study of the subordinate regulatory legal acts of the State of Israel in terms of regulating the turnover of cryptocurrencies is conducted. A study of the positions of legal scholars of the State of Israel on the problem of tax and legal regulation of the turnover of cryptocurrencies is conducted. The experience of normative-legal regulation of the turnover of cryptocurrencies in the Russian Federation is studied. As a result of the study, the author identifies gaps in the legal regulation of taxation of cryptocurrencies in the Russian Federation, in comparison with the legal regulation of the State of Israel. Thus, the legislation of the Russian Federation does not define the tax and legal regime of the procedure for the initial accrual of cryptocurrencies — “mining”. The absence of tax and legal regulation during this procedure entails a shortfall in funds by the budget of the Russian Federation. Mining is a technical feature of cryptocurrencies and cannot be ignored by the legislator. In addition, the experience of creating a “regulatory sandbox” by the State of Israel for fintech companies operating in the field of cryptocurrency turnover is interesting. This experience could be applied in the Russian Federation, in individual subjects, as part of an experiment to establish a special tax regime.

tax and legal regulation, taxation, cryptocurrency, blockchain, token, digital financial asset, digital currency, mining, YIT, State of Israel, ISA, BOI

Titorenko S. K. Legal regulation of taxation of cryptocurrency turnover: a comparative legal study of the tax and legal regulation of the State of Israel and the Russian Federation. Business. Education. Law, 2022, no. 2, pp. 163—167. DOI: 10.25683/VOLBI.2022.59.255.