scholarly journals The problems of taxation of income of private and legal entities from operations with digital financial assets

2020 ◽  
pp. 88-96
Author(s):  
Konstantin Borisovich Razdorozhnyi
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Value Added ◽  
Legal Regulation ◽  
Financial Assets ◽  
Tax Legislation ◽  
Official Position ◽  
Accounting Rules ◽  
The Russian Federation ◽  
Digital Assets

The subject of this research is the problems of taxation of income from operations with digital financial assets. It is a known fact that the Institution of financial legal regulation of circulation of the digital financial assets is in the process of establishment; thus, there are yet no legislative norms on taxes and fees in this sphere of public relations, and the only reference point for taxpayers is the information letters from competent authorities and doctrinal sources. Among the relevant problems of taxation in this field, the author underlines the absence of an official position regarding the taxation of such operations with the value added tax (VAT), as well as the absence of the established procedures for documented proof of income and spending within the framework of circulation of digital financial assets. The main conclusion consists in the thesis that the existing in the Russian Federation system of taxes and fees can be implemented institutionally in the indicated sphere of public relations. The author also notes that the solution of these problems requires introduction of isolated amendments to tax legislation, among which is the inclusion of operations that are not subject to VAT in accordance with the Article 149 of the Taxation Code of the Russian Federation, as well as transactions with financial digital assets and digital currencies. Particular attention is turned to the need for elaboration of departmental instructions that would establish accounting rules for transactions with digital financial assets. Within the framework of this article, the author analyzes the foreign methods of documented proof of income and spending that can also be applied in Russian business practice.

Taxation Issues for Digital Financial Assets

2021 ◽  
pp. 089443932110039
Author(s):  
Viktor Shestak ◽  
Alla Kiseleva ◽  
Yuriy Kolesnikov
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Legal Regulation ◽  
Capital Gains ◽  
International Standards ◽  
Financial Assets ◽  
State Budget ◽  
The Russian Federation ◽  
Digital Assets ◽  
Tax Accounting

The objective of the study is to determine the status of a digital financial asset and the features of its taxation in the Russian Federation and progressive countries. Currently, there are three main taxation models that are used in this area: income tax, corporate income tax, and capital gains tax. The article explores the prospects for introducing the experience of foreign countries in the Russian Federation. The possible changes that may occur in tax regulation are analyzed. The experience of leading countries in the field of legal regulation of the use of digital financial assets and the taxation of cryptocurrency transactions is analyzed. Such an analysis will allow Russia to keep pace with countries with a leading economy and at the same time increase state budget revenue through taxation of cryptocurrency transactions. The study provides an analysis of the conceptual scenarios of digital income taxation and objects of taxation in the process of cryptocurrency creation. The study critically assesses possible options for applying international standards for tax accounting of digital assets. Groups of problematic issues that arise in the tax accounting of digital assets are developed. The prospect of further research is the development of tax accounting methods for each of the established entities for the creation and circulation of digital financial assets in accordance with accounting objects.

Digital Financial Assets: Problems and Prospects of Legal Regulation

2020 ◽  
Vol 15 (6) ◽  
pp. 43-54
Author(s):  
T. E. Rozhdestvenskaya ◽  
A. G. Guznov
Keyword(s):  
Information Systems ◽  
Russian Federation ◽  
Legal Regulation ◽  
Financial Assets ◽  
Federal Law ◽  
Digital Rights ◽  
The Russian Federation ◽  
Federal Laws ◽  
And Diffusion ◽  
Digital Assets

The emergence and diffusion of digital assets, especially cryptocurrencies, necessitated their legal regulation. The paper investigates the main approaches to the legal regulation, which is already implemented in the Civil Code of the Russian Federation and other federal laws. Particular attention is paid to the novelties of the legal regulation that have been envisaged in the draft Federal Law “On Digital Financial Assets.” The draft Federal Law is being currently debated in the State Duma of the Russian Federation. The paper analyses in detail the concept of digital financial assets as a specific type of digital rights. The author also compares the concepts of uncertified securities and non-cash money. The author investigates the issues of digital financial assets issuance and peculiarities of their circulation. The paper substantiates the requirements applied to information systems and their operators included into the draft law in compliance with which the issue of digital financial assets is carried out.

scholarly journals Digital Currencies: Problems of Legal Regulation

2020 ◽  
Vol 15 (11) ◽  
pp. 103-113
Author(s):  
A. A. Sitnik
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Legal Regulation ◽  
Comprehensive System ◽  
Financial Assets ◽  
Federal Law ◽  
Financial Instrument ◽  
Digital Currency ◽  
The Russian Federation ◽  
First Time

The paper analyzes the provisions of the Federal Law of July 31, 2020, № 259-FZ “On Digital Financial Assets, Digital Currency and Amendments to Certain Legislative Acts of the Russian Federation” concerning the legal regulation of circulation of digital currencies. The author elucidates legal definitions of such concepts as “digital currency”, “organization of digital currency issuance”, “digital currency issuance”, “organization of circulation of digital currency” and focuses on their shortcomings. The paper also highlights the features of digital currencies, describes types of transactions with this financial instrument, outlines the circle of subjects of relations arising in the process of circulation of digital currencies. In general, it must be recognized that Law No. 259-FZ failed toresult in the creation of a comprehensive system of legal regulation of circulation of digital currencies, its provisions are piecemeal and sometimes controversial in nature. At the same time, the legal act under consideration is of fundamental importance because, for the first time at the legislative level, it has enshrined the rules governing public relations that are being formed in the process of circulation of digital currencies.

scholarly journals The system of offences related to illicit circulation of digital securities in Russia

2021 ◽  
pp. 38-50
Author(s):  
Elina Leonidovna Sidorenko ◽  
Ekaterina Aleksandrovna Khalizeva
Keyword(s):  
Russian Federation ◽  
Legal Regulation ◽  
Criminal Code ◽  
Technological Aspect ◽  
Alarm Signals ◽  
Research Task ◽  
The Russian Federation ◽  
Federal Laws ◽  
Further Development ◽  
Digital Assets

  This article is dedicated to the analysis of the system of offences related to the illicit circulation of digital securities in the Russian Federation. Special attention is given to the peculiarities of the mechanism of constructing the system of offences in the sphere of digital economy. The article analyzes the basic FATF acts pertinent to digital assets; examines the alarm signals in using such assets to launder proceeds acquired by illegal means or used to finance terrorism. The author reviews recommendations on application of risk-based approach in the process of creating due legal regulation of digital assets in the FATF member-states (including Russia). As a research task, the article aims to determine which acts associated with the illicit circulation of digital securities are the subjected to criminalization, as well as the composition of these offences considering the technological aspect of the mixed (economic and technological) nature of such assets. The corresponding draft federal laws “On the Amendments to the Criminal Code of the Russian Federation” and “On the Amendments to the Code of the Russian Federation on Administrative Offenses”, developed by the Ministry of Finances of the Russian Federation, comprise the legislative normative framework for this research. The conclusion is made on the reception (accounting) of recommendations for further development of such regulation in the Russian Federation.  

scholarly journals The Legal Fundamentals for the Prevention of Capital Outflow from the Russian Federation

Legal Concept ◽  
2019 ◽  
pp. 84-89
Author(s):  
Elena Ryabova ◽  
Alina Nikolaeva
Keyword(s):  
Russian Federation ◽  
Legal Regulation ◽  
Academic Community ◽  
Point Of View ◽  
Capital Outflow ◽  
Tax Legislation ◽  
Domestic Capital ◽  
The Russian Federation ◽  
Characteristic Features ◽  
Fundamental Categories

Introduction: the identification and analysis of the causes and factors, including the gaps in the legislation, generating an increase in the capital outflow, as well as the improvement of the currency, investment and tax legislation are relevant and important issues. Purpose: to study the problems of the legal regulation to prevent the outflow of capital from the Russian Federation. Methods: the fundamental categories and principles of materialistic dialectics, the generally accepted methods of comparative law became the methodological framework for solving the tasks. As part of the study of the legal foundation to prevent the outflow of domestic capital abroad, the authors also used the methods of analysis and synthesis, functional and systematic approaches, and the formal legal and statistical methods. Results: grounded in the paper the author’s point of view is based on the study of the international conventions, treaties and agreements to which Russia is a party, and the domestic legal acts regulating relations in the field of preventing the outflow of domestic capital abroad, as well as the opinion of the competent academic community. Conclusions: the study identified the characteristic features of the process of capital outflow from Russia and developed a list of recommendations aimed at improving the measures of the state legal regulation in the field of combating the outflow of capital abroad.

scholarly journals Financially-legal regulation of basic public debt management in the conditions of coronavirus pandemic

2021 ◽  
pp. 71-81
Author(s):  
A. B. Byla
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Public Debt ◽  
Legal Regulation ◽  
Debt Management ◽  
Foreign Markets ◽  
Financial Activity ◽  
The Russian Federation ◽  
Public Debt Management ◽  
Definition Of

This article is devoted to the consideration of some issues related to the legal regulation of the main methods of public debt management in Russia in the context of the coronavirus pandemic. In the course of the study, the features of the external and internal debt of the Russian Federation are highlighted, various approaches to the definition of this category are considered, and some aspects of legal regulation in this area are analyzed. It is determined that the norms of financial law regulate a whole and diverse set of public relations related to the implementation of borrowing both in the domestic and foreign markets, and it is necessary to comprehensively regulate this institution. In conclusion, it is concluded that the coronavirus pandemic has greatly affected all aspects of financial activity, the state had to resort to additional borrowing on the domestic market to eliminate the consequences of the pandemic. Based on this, we need a well-thought-out strategy for the development of legislation in this area at all levels of the budget system of the Russian Federation. 

scholarly journals Operators of foreign payment systems and foreign providers of payment services as subjects of national payment system

2020 ◽  
pp. 14-24
Author(s):  
Aleksandr Aleksandrovich Sitnik
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Financial Services ◽  
Legal Regulation ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Financial Transfers ◽  
The Russian Federation ◽  
Payment Services

This article is dedicated to study of peculiarities of legal regulation of the work of operators of foreign payment systems and foreign providers of payment services within the framework of national payment system of the Russian Federation. The object of this research is the public relations that emerge in the process of rendering payment services by foreign providers, their provision of electronic payment means for financial transfers on the territory of the Russian Federation, functionality of the operators of foreign payment systems, and supervision by the Bank of Russia. The subject of this research is the legislative norms on national payment system. The scientific novelty consists in the fact that based on the positions of the legislation on national payment system conclusions are made on peculiarities of carrying out supervision over the operators of foreign payment systems and foreign providers of payment services. This supervision is also indirectly carried out through Russian operators of financial transfers. In a case of failure by a foreign organization to meet the requirements established by the legislation on national payment system, the operators of financial transfers loses its right to take part in international payment systems and render financial services associated with transfer of funds using electronic payment methods rendered by foreign providers. The corresponding rules were set to ensure stability of national payment system, increase the quality of payment services, protect the rights and lawful interests of payment service consumers, and finally, ensure financial security of the Russian Federation.

scholarly journals Revisiting the notion of “sustainable tourism” for legal regulation purposes in Russian Federation and Republic of Belarus

2020 ◽  
Vol 208 ◽  
pp. 06004
Author(s):  
Vitali Maksimeniuk ◽  
Roza Timakova
Keyword(s):  
Public Relations ◽  
Social Development ◽  
Russian Federation ◽  
Sustainable Tourism ◽  
Legal Regulation ◽  
Sustainable Tourism Development ◽  
Contemporary Issue ◽  
The Russian Federation ◽  
The Republic ◽  
Definition Of

The article considers theoretical aspects of a most important contemporary issue, i.e. modern approaches to sustainable tourism. The study shows the main relationships of the phenomenon with sustainable economic and social development. The research results in identification of the essential characteristics (signs) of sustainable tourism, i.e. for the legal regulation purposes. The concept of “sustainable tourism” for deliberate influence of the state on public relations in tourism using special legal means and methods was defined. The conclusions may improve the current regulatory framework of the Russian Federation and the Republic of Belarus. Changes and additions to the national laws on tourism are suggested and justified. They relate to introduction of the definition of the concept of “sustainable tourism” and inclusion of the principle of sustainable tourism development.

scholarly journals Legal regulation of digitalization processes in the Russian Federation: civil law aspect

2021 ◽  
pp. 51-62
Author(s):  
Anna Iurievna Iakovleva-Chernysheva ◽  
Anna Valentinovna Druzhinina
Keyword(s):  
Russian Federation ◽  
Civil Law ◽  
Legal Regulation ◽  
Financial Assets ◽  
Systematic Analysis ◽  
Digital Rights ◽  
Legal Science ◽  
Civil Discourse ◽  
The Russian Federation ◽  
Equity Securities

The subject of this research is the trends and problems in the development of civil legislation within the framework of legal regulation of digitalization processes in the Russian Federation. The goal of this article lies in comprehensive examination and disclosure of the legal essence of the concept of digital rights as an object of civil rights, introduced into the Russian legislation within the framework of legal regulation of digitalization processes. The research methodology employs systematic approach, general scientific and special methods of legal science – formal-legal, interpretation of law, etc. For achieving the set goal, the author explores the prerequisites for the development of civil law provision pf digitalization processes; analyzes the novelties of civil legislation pertinent to implementation of various types of digital rights into civil discourse; studies the legal essence of digital rights; determine the ratio between digital rights and equity securities within the civil discourse. The scientific novelty lies in revealing the legal essence of digital rights as a special concept uses in civil law ; systematic analysis of the utilitarian digital rights and digital financial assets that  encompass all types of digital rights in the current Russian legislation; substantiation of the fact that property rights in their extensive interpretation used in legal science and case law are the generic concept of digital rights; outlining that the content and conditions for exercising digital rights are determined conformity with the rules of the information system that meets the criteria established by law; examination and explanation of interrelation between different types of digital financial assets and equity securities in the civil discourse. The acquired results can be applied in further research of civil law regulation of digitalization processes, in teaching civil law disciplines in the higher school.

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