The head of the Federal Treasury of the Russian Federation admitted the possibility of paying taxes in the digital ruble. At the first stage, the new method will affect only individuals.
Roman Artyukhin, head of the Russian Treasury, spoke about a possible experiment to collect taxes in the digital ruble. In an interview with Izvestia newspaper at the St. Petersburg Economic Forum, he explained that the Treasury is part of a working group led by the Central Bank and will take part in a pilot project to test the digital ruble.
“We assume that certain settlements with the state can begin to be carried out using the digital ruble. In particular, we do not exclude the possibility of paying taxes, providing funding from the federal budget and regional budgets in the form of this new form of money.”
Artyukhin added that at the first stage, tax collection in the digital ruble will affect individuals.
“With the corporate sector, everything is more complicated, there are many more types of payments. With citizens, the situation is simpler, in fact, we are talking about paying from their wallets.”
According to Artyukhin, the digital ruble is aimed at accelerating of money circulating in the economy, simplifying of transactions, and making them more transparent.
“We see a serious potential of the digital ruble to ensure the traceability of money in the economy when making advances, banking support of government contracts. Of course, the new form must be adapted to new conditions and, above all, be useful, but over time we can predict that cash might be displaced by the digital form of ruble.”