There is no secret that trading is potentially profitable activity and therefore taxable. However, the issue remains vague while there is no question that any other employees are supposed to pay income taxes. So we will shake off the fog of obscurity and find out whether traders have to pay taxes.

Firstly, it should be noted that traders should pay income taxes according to the laws of the country they live in. In Russia revenue from Forex deals is taxable and Forex market is an official source of income. Therefore, just hypothetically, traders must pay 13 percent of their currency market earnings. However, when you think of the practical aspect of the matter, you can see some details that refer to no articles in the tax code.

It is not clear how tax administration will control the revenue of traders if they do not use their VAT number while trading on Forex. So if a trader does not file a tax return, tax officials will not receive his/her revenue information. It could be seen only when the trader will cash large sum of money or make a big purchase. Then tax inspectors would become interested in the source of income and demand an explanation. The trader risks being fined for tax evasion. Another question is how exactly 13 percent income tax is calculated. There is no consensus on this point.

There are also the ways of keeping money invisible for authorities. For example, the funds on Webmoney accounts are not taxable as they are considered non-bank currency in Russia. So tax officials should take it into consideration in order to improve the taxation and remove barriers from trading on Forex market.
In conclusion, it is up to you, whether to file a tax return or not, because only you are responsible for it. In any case, you should see that your actions are legal and weigh your risks.