The Ukrainian financial regulator has proposed some crypto transactions to tax up to 23 % as a personal income, but except the crypto -to -crypto transactions and the stubborn.
As part of the proposed framework issued by Ukraine’s National Securities and Stock Market Commission on April 8, crypto transactions will be taxed with 5 % of the military levy with 18 % tax.
NSSMC Chairman Raslan Magoomidov said in a April 8 statement that “the issue of crypto tax is not an assumption, but a fact that is approaching rapidly.”
He added that the agency has created this framework to help the lawmakers make the “informed resolution”, considering the benefits and disadvantages of each advice, as “these aspects could have a significant impact on market and tax responsibility.”
Under the NSSMC’s proposed crypto framework, the crypto will be taxed when cash is extracted for fetty currency or exchanged for goods or services.
The NSSMC said that the Crypto -to -Crypto transactions would not be taxed, which would include Ukraine, including Austria and other European countries, as well as Crypto -friendly powers like Singapore.
The regulator says it is “understood” to exclude foreign currencies -backed stabbicins or apply only 5 % or 9 % tax, because Ukraine’s tax code does not already exclude revenue from transactions in “foreign exchange values”.
The translated quote from the NSSMC report states that stable Queens can be exempted from taxing in support of foreign currencies. Source: Nssmc
Mining, stacking, hard thorns and airplanes
Other activities related to crypto, such as mining, stacking and air drops, have also been resolved in the framework that offered some powers to tax.
NSSMC said that crypto mining is generally considered a business activity, but some crypto transactions, including mining, can be a normal tax limit.
Under the framework, the stacking can be considered as a “business prisoner income” or only taxed when the crypto is expelled for fiat currencies. However, it can be taxed on strict thorns and airplanes as a general income or when the token is made.
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The regulator suggests that a tax -free limit can help “relieve the burden on small investors” and that it is common in the second jurisdiction.
Exemptions for donations, transitions between family members, and holders who keep their craft for a fixed time are also flagged as possibilities. However, the NSSMC says the exemption cannot be applied to the non -abusive crypto wallet.
Last December, Daniel Gate Mansef, head of the Ukrainian parliament’s tax committee, said a draft bill was under consideration for legalizing currency currencies and is expected to be finalized earlier this year.
Ukrainian President Wolodmeer Zelannsky signed a law that set up a legal framework for the country to operate the regular crypto market in March 2022.
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