Forex trading brings a certain income to the trader, which, like any other profit, is subject to mandatory taxation. In this regard, many participants in the foreign exchange market have many questions about the rules for calculating and paying taxes in this case.
Instructions
Step 1
Refer to Article 207 of the Tax Code of the Russian Federation. It notes that the taxpayers of personal income tax (personal income tax) are all individuals recognized as tax residents of the Russian Federation and receiving profits from various sources. Article 208 of the Tax Code of the Russian Federation specifies that profits received both from sources in the Russian Federation and outside the country are subject to taxation.
Step 2
Read the letter of the Ministry of Finance of the Russian Federation No. 03-03-04 / 1/629 dated August 16, 2006. According to this letter, profits derived from activities in organizations dealing with the international foreign exchange market Forex are considered taxable and are subject to mandatory payment at a general rate of 13%.
Step 3
Pay income tax only on amounts that are withdrawn from the Forex trading terminal to the trader's bank account or cashed out via bank transfer. The tax legislation does not establish provisions regulating the procedure and payment of taxes on profits received from the conclusion of a transaction on the basis of currency differences. Thus, the taxation of income from Forex is carried out in accordance with the general provisions of the Tax Code of the Russian Federation, which do not take into account losses of previous periods when calculating the tax base. It is not advisable to hide the income received. Banks can "flash" your profits during withdrawals, as they report to the tax authorities about people cashing out certain funds. Also, law enforcement agencies may ask you whether you have funds in the event of a large purchase. If the fact of non-payment is revealed, a decent fine is charged to the taxpayer.
Step 4
Declare income, guided by Article 229 of the Tax Code of the Russian Federation, from making a profit on Forex in a tax return no later than April 30 of the current reporting tax year. The amount of income is indicated on the basis of the acts of transferring funds from the accounts of the Forex dealer center to your bank account. File your tax return with the Federal Tax Service of your place of residence.
Step 5
Pay personal income tax until July 15 of the year after filing a declaration at the place of residence.
