Equipment Accounting: How to Properly Document the Purchase of an ASIC Miner
Purchasing ASIC miners is a crucial step for any business involved in cryptocurrency mining. However, without proper legal documentation, you may run into issues with tax reporting, expense deductions, or even questions from the tax authorities.
📢 What should you pay attention to?
Contract – Without it, your ASIC is like a suitcase without a handle: technically there, but hard to prove. Clearly state the terms of delivery, warranty, and the seller’s status (legal entity or individual).
Primary documents – An acceptance certificate, invoice, consignment note (Torg-12), or universal transfer document (UTD) are essential for equipment accounting. Without them, your purchase could become a black hole on paper.
Classification – ASICs can be classified as fixed assets (if the cost exceeds 100,000 ₽) or as inventory (under Article 256 of the Russian Tax Code). Yes, ASICs may become outdated faster than your smartphone, but the tax office still wants them properly accounted for.
Depreciation – It’s important to determine the correct useful life of the equipment based on its specifications and expected lifespan (Article 259 of the Tax Code).
Tax accounting – Purchase costs can be deducted through depreciation or written off entirely if the value is below the threshold (Articles 253, 272 of the Tax Code).
Customs clearance and import – If equipment is imported from abroad, be sure to file a goods declaration (DT RF) and pay applicable VAT.
Proper documentation now means fewer problems later — and a much smoother ride through crypto mining’s legal landscape.
💡 Important: In the context of evolving cryptocurrency regulations, it's essential to consider potential tax implications related to the operation of ASIC miners.