- Incomes will be taxed at a rate of 19.5%
- And the NBU and the National Commission on Securities and Stock Market (NSCSMF) will oversee
The National Commission on Securities and Stock Market (NSCSMF) is finalizing a bill on crypto-taxes.. The next step is the implementation of new rules and changes to the Tax Code of Ukraine. According to Forbes, deputies will be able to do it at the session in September. In this case, Ukraine will be the first country to implement the European MiCa bill.
New rules and taxes
The amendments suggest the following changes:
- Crypto market regulators will be the National Bank (NBU) and the National Commission on Securities and Stock Market (NCSFM).
- All cryptocurrencies will be divided into 3 categories. These are e-money tokens, asset-linked tokens and other virtual assets.
- The issuance of virtual assets can only be carried out by a legal entity registered with the NCSSM.
- Gains from crypto assets are subject to an 18% tax and a 1.5% military fee.
Important! The 19.5% tax only applies to the gains themselves.. For example, if an investor bought an asset for 10 000 hryvnia and then sold it for 12 000, he will pay tax from 2 thousand hryvnia (12 000-10 000).
The bill suggests that all market participants (crypto exchanges, etc.) must comply with the rules. This raises questions. For example, will the exchanges begin to impose taxes, or it will be on the conscience of the clients themselves. So we wait for detailed explanations of the NBU and the comments of subject matter experts.