5% is a pretty big tax, especially for miners these days hardly make decent profits.
However, if you are a trader and be able to make $100 or $1000 profit, paying $5 or $50 as capital gains isn't a big problem.
Moreover, it's a good trade for Ukrainians to get the cryptocurrency regulated, every regulation has a price obviously.
as Artiom Afyan says; "this is the price to pay for the legalization of income from dealings in crypto."
It's easy to avoid taxes though, simply do not convert crypto to fiat money and there are many ways on hand if you want to do so.
Topic: [2018-08-10] New Bill Proposes 5% Tax on Crypto Incomes in Ukraine - page 2. (Read 304 times)
August 10, 2018, 10:10:13 AM
August 10, 2018, 07:42:24 AM
that's a tax rate most people elsewhere could get behind. i think it's 55 or 60% in japan. but the idea of that tax being on all purchases with crypto is a pretty dumb idea. it should only be above a certain level.
and what the hell's with that war tax? i've never heard of anything like that before.
and what the hell's with that war tax? i've never heard of anything like that before.
August 10, 2018, 03:22:03 AM
A draft law prepared by deputies and representatives of the industry aims to introduce light taxation of crypto incomes in Ukraine. Businesses and individuals will be required to pay 5% on their profits from trading and mining cryptocurrencies when exchanged to fiat. Add to that the mandatory ‘military charge’ of 1.5% all Ukrainians owe the state since the start of the conflict in the East.
Ukrainians to Pay 5% Tax and 1.5% Military Charge on Crypto Profits
Despite their increasing popularity, cryptocurrencies are not yet legalized and regulated in Ukraine. The country’s growing crypto sector is expecting authorities to do that as soon as possible but officials in Kiev have been slow to grasp the phenomenon and figure out what to do with it. Three bills are stuck in the Rada since last October and a fourth one is expected to be filed this September.
Now when Ukraine is getting closer to adopting regulations after the approval of a regulatory concept last month, a new draft law addresses the aspects of taxation. A group of deputies led by Ukrainian lawmaker Oleksiy Mushak and two dozen representatives of the crypto business are working on the bill which proposes a temporary tax regime in the sector. The authors want it to be enforced in 2019 and remain in place until 2025.
Read more: https://news.bitcoin.com/new-bill-proposes-5-tax-on-crypto-incomes-in-ukraine/
Ukrainians to Pay 5% Tax and 1.5% Military Charge on Crypto Profits
Despite their increasing popularity, cryptocurrencies are not yet legalized and regulated in Ukraine. The country’s growing crypto sector is expecting authorities to do that as soon as possible but officials in Kiev have been slow to grasp the phenomenon and figure out what to do with it. Three bills are stuck in the Rada since last October and a fourth one is expected to be filed this September.
Now when Ukraine is getting closer to adopting regulations after the approval of a regulatory concept last month, a new draft law addresses the aspects of taxation. A group of deputies led by Ukrainian lawmaker Oleksiy Mushak and two dozen representatives of the crypto business are working on the bill which proposes a temporary tax regime in the sector. The authors want it to be enforced in 2019 and remain in place until 2025.
Read more: https://news.bitcoin.com/new-bill-proposes-5-tax-on-crypto-incomes-in-ukraine/
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