On September 14 (local time), legislation was filed in the Ukrainian Parliament to levy taxes on cryptographic assets.
The measure, led by 23 public officials, suggests that 18 percent of the profits from the cryptographic business after 2024 should be taxed. This tax rate is equal to the income tax for businesses and individuals in Ukraine. Of course it aims to reduce gray market business and raise national financial income. Indeed, the bill is expected to increase $ 43 million in tax revenues by 2019-2024.
At present, the legal evaluation of cryptography is not fixed in Ukraine. Last May, the SSMCS of the Ukrainian National Securities and Stock Market Commission said it was considering cryptographic money as a financial instrument. On the other hand, there are various approaches to the taxation of cryptographic business in each country. In June, the Aussie Tax Office strengthened tax collection on cryptographic investors, and in September Colombia promised tax cuts on cryptographic and block chain related startups. For more information, please click here .