OREANDA-NEWS  The government Commission on Legislative Activity has approved a project allowing individuals to legally mine gold. Vedomosti writes about this with reference to the conclusion of the commission and the project itself.

According to a source close to the White House, the bill is being prepared for submission to the State Duma in the near future. Currently, only legal entities that have received a license to use mineral resources based on the results of participation in an auction or tender can mine gold in Russia.

The bill was prepared by the Ministry of Regional Development on behalf of Russian President Vladimir Putin. In addition to lifting the ban on mining by individuals, the document also proposes amendments to the Tax Code (NC), which will oblige gold buyers to pay VAT, and not prospector sellers. In addition, the authors of the document advocate the exemption of prospectors from personal income tax if less than a kilogram of precious metal was mined during the reporting tax period.