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Bank of Russia: Here’s how you will have to pay taxes with digital rubles

Denis Polyakov, deputy director of the Bank of Russia’s national payment system department, said that taxes from digital wallets will be paid almost the same way as from regular bank accounts.

The official reminded that the law equates the digital ruble with any other money in bank accounts.

“Therefore, interaction with government agencies, including the Federal Tax Service, will be carried out according to the same principles,” the deputy director assured.

The Central Bank spokesman specified that the development of the digital ruble platform was conducted under “constant control of the regulator in this area, the Federal Security Service.”

Anatoly Aksakov, chairman of the State Duma’s Financial Market Committee, added that the Federal Tax Service will still first try to clear a defaulter’s regular bank cards when collecting arrears.

“First the bank accounts, and if there wasn’t enough money there, then recoveries will be applied to a digital account – if there is a debt to the tax service or something else,” the deputy explained.

The Russian State Duma recently passed a bill on introducing the digital ruble into the country’s banking system at once in its second and final third reading. Several major Russian banks have already announced that they are ready to test real transactions with the Central Bank’s digital rubles;