PANews reported on May 1 that according to Cryptonews, the Russian Ministry of Finance intends to impose value-added tax (VAT) on companies that rent mining equipment or data centers to overseas companies and mining pools. The new regulations also apply to energy companies that provide electricity to overseas mining companies. The Ministry of Finance said the move is aimed at clarifying the taxation process for mining equipment leasing and establishing tax rules for companies that provide "mining computing power" to non-Russian customers. VAT may apply to real-time, monthly or annual rental bills, and the lack of "clear explanation" in current regulations makes it difficult for companies to declare. The Russian law that came into effect in January this year requires all industrial miners and "mining infrastructure operators (MIOs)" to register with the national list. As of April 1, 116 MIOs and 606 industrial miners have completed the registration, but the FTS believes that there are still a large number of companies that have not complied. The list is managed by the FTS, which is currently formulating the details of the taxation of the annual profits of mining companies and MIOs.