Ukraine floats 23% tax on some crypto income, exemption for stablecoins
The financial regulator of Ukraine proposed taxation of certain crypto transactions as a personal income at the rate of up to 23%, but excluding crypto-crypto transactions and stablecoins.
Cripto transactions would be taxed at 18% with 5% military purposes at the top within the proposed framework, published 8. April Ukraine National Securities and the Share Market Commission.
Chairman of the NSSMC Ruslan Magomedov said In Statement 8. April that “the issue of cryptic taxes is not a hypothesis, but a reality approaching quickly”.
He added that the Agency created a framework for assistance to the legislators “Informed resolution” with respect to the advantages and disadvantages of each proposal, because “These aspects can have a critical impact on the market and tax liability.”
Under the NSSMC proposed cropto crypto framework, tax is applied when CRYPTO is cashed for fiast currency or exchanged for goods or services.
The CRIPTO-CRIPTO transactions would not be taxed, bringing Ukraine in accordance with other European countries, including Austria and France, as well as crypto-friendly jurisdictions such as Singapore, NSSMC said.
The regulator says “makes sense” to turn off stablecoins supported by foreign currencies or only apply 5% or 9% tax, because Ukraine tax code already excludes transactions in “foreign exchange values”.
The translated passage of the NSSMC report said that stablecini supported foreign currencies could be released taxation. Source: NSSMC
Mining, commitment, hard forks and aircraft
Other crypto-connected activities, such as mining, paths and air, have also been resolved in the framework of several taxation options.
The NSSMC said that crypto mining is generally considered business activities, but can be a general tax without tax for certain crypto transactions, including mining.
According to the framework, commitment can be considered “business captive income” or is only taxable if the crypto is redeemed for FIAT currencies. While forks hard and Masons can be taxed either as an ordinary income or when the tokens are cashed.
Related: Ukrainian officials receive training on the investigation of crypto and virtual assets
The controller suggests that the tax without tax could help “mitigate the burden with small investors” and is common in other jurisdictions.
Exemptions for donations, transfers between family members and owners who hold their crypt for time setting time also be marked as opportunities. However, the NSSMC says the exemption may not refer to Non-curdable cards for crypto.
Last December, Daniil Getmantsev, Head of the Ukrainian Parliament’s Tax Board, said Draft Legalization of Kruptocurri Legalization He was in an overview and is expected to be completed at the beginning of this year.
Ukrainian President Volodimir Zelenskii First signed a law establishing a legal framework That the country is working a regulated crypto market in March 2022. years.
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2025-04-10 05:21:00
