The Russian Ministry of Finance plans to impose value-added tax on the rental of mining equipment.

According to RBC, the Russian Ministry of Finance has submitted a bill proposing to levy value-added tax (VAT) on domestic companies renting mining equipment or providing real-time computing power services to foreign customers. The Ministry stated that the bill aims to eliminate the legal gap regarding VAT applicability when Russian taxpayers provide mining infrastructure to overseas clients. According to data from the Russian tax authority, there are currently 606 registered miners and 116 mining infrastructure operators nationwide. The industry is expected to generate approximately 50 billion rubles in tax revenue for Russia annually.