Ukraine plans to impose a tax on the operations with cryptocurrencies

23 people's deputies of the Verkhovna Rada of Ukraine initiated the draft law on taxation of the operations with digital assets. It is already registered and waiting for consideration.

The draft law provides for levying taxes on profits from cryptocurrency operations at a rate of 5% from natural persons and 18% – from legal persons. However, the project authors are ready to give the enterprises some indulgence and until 2024 not to take more than 5% from them.

Taking into account that the financial regulators of Ukraine have plans to recognize the cryptocurrency as financial instruments on an equal basis with the bills of exchange, shares, bonds and other securities, the draft law entered the parliament in a timely manner. After all, at the moment, the status of digital money in the country is not defined.

The recognition of the cryptocurrency and the adoption of the draft law will allow the citizens to legally use the new financial instruments and invest in digital assets. In addition, large volumes of financial transactions will be withdrawn from the shadow markets. Consequently, Ukraine will be able to replenish the budget through taxation, as well as significantly stimulate the development of the virtual assets market.