Taxation of e-money in Russia
The payments for freelances' services to e-wallets are a subject to the same taxation as payments to bank accounts.
E-wallet payments have become very popular recently. In fact, they are fully complaint with the law.
Companies and individual entrepreneurs may effect payments to freelancers for rendered services by using e-money through corporate e-wallets, which allow to identify the payer and the recipient.
The parties should sign a contract (for example, a Services agreement) specifying such payments.
There is a common misconception that e-wallets are not controlled and non-payment of taxes will never be discovered. This is not true. The law prescribes to deduct personal income tax and all the social insurance contributions from payments via e-wallets, the same way as from the payments to bank accounts. Besides, tax authorities are entitled to request all the information about the electronic cash flow from the e-wallet operators.
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