The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
I don't know anything about crypto taxation. How exactly does that even work? How do they charge you tax for making use of cryptocurrency since it is anonymous or are these taxes charged when you trade cryptocurrency from an exchange? In my country when I want to trade cryptocurrency I don't make use of exchanges, I make use of a p2p system where I send my cryptocurrency to the buyer and they will send payment from their bank accounts to mine. This has been the system I have been using since I started crypto and it has been working out for me. 
Topic: No Crypto Taxes Until 2030: Proposes New Ukrainian Bill (Read 813 times)
The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
I don't know anything about crypto taxation. How exactly does that even work? How do they charge you tax for making use of cryptocurrency since it is anonymous or are these taxes charged when you trade cryptocurrency from an exchange? In my country when I want to trade cryptocurrency I don't make use of exchanges, I make use of a p2p system where I send my cryptocurrency to the buyer and they will send payment from their bank accounts to mine. This has been the system I have been using since I started crypto and it has been working out for me. 
Ukraine is developing crypto friendly bill for crypto investors now we can see more blockchain development projects from Ukrainian
I am still quite confused about these moves by Ukraine because government generally would never support anything that is not under their control and what they will not benefit from. We all know that the system of cryptocurrency does not really permit transparency due to its anonymous nature, and if Ukraine wants companies in their country to operate on blockchain technology for good 10 years without them interfering or placing any tax burden on them, how would they get money within this 10 years, would there GDP not reduce? Still wondering how this freedom fully given to blockchain companies will benefit them.
Ukraine is developing crypto friendly bill for crypto investors now we can see more blockchain development projects from Ukrainian
As far as I know in majority of countries cryptocurrencies itself are not taxed, only transactions are. By this measure Ukrain is maybe trying to buy some time to see how situation will develope ina 10 years time. And for cryptocurrencies this is a very long time and by then I'm sure that crypto regulations of any kind would be at totaly different levels.
Ukraine is a very corrupt country. Exemption from cryptographic taxes can give freedom to laundering “dirty money” to members of parliament and the government.
Most of the third world nations are extremely corrupt, and the former-USSR nations such as Ukraine are not an exception. That said, I don't think that BTC is a preferred method to pay bribes to the politicians. They don't need to pay bribes in the form of crypto, when it can be easily done in the form of fiat cash (either in the physical form or the digital form). The only concern here should be the exchange rate of the national currency (Ukrainian Hryvnia), which has lost almost 70% of its value during the last 5 years.
Ukraine is corrupted but it is not the "third-world" country. As for these laws about no taxes for cryptocurrency, they cost nothing as the laws there change weekly. Tomorrow, another one, banning BTC, can appear.
I think is better if they not tax it because they think for long run and people will can withdraw and cashout their coins and on this way they can get more money when people buy something (VAT) than to tax crypto.
The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
I would amuse that taxation on crypto would involve the people who buy and sell it using real money, because then their transactions and their earning would have to be registered in the bank and therefore they pass through the government system and they can tax them, but for people who are earning and purely using crypto i don't see any possible way they would be able to track them down and tax their income, unless as i said their use cash. The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
Sounds great but we talk about Ukraine a country with political instability. Me personally i dont like the idea of taxing but i prefer to see some reglementations regarding crypto.We can see why it will be absolutely impossible for cryptocurrency to be banned worldwide, because there are so many countries that are friendly with cryptocurrency, so the next step they need to take now, is to first regulate it, taxing is not a problem, because most companies that are involved in the use of cryptocurrency never complains of tax but we need some sort of regulation that will make the crypto industry a safer one.
Ukraine is a very corrupt country. Exemption from cryptographic taxes can give freedom to laundering “dirty money” to members of parliament and the government.
Most of the third world nations are extremely corrupt, and the former-USSR nations such as Ukraine are not an exception. That said, I don't think that BTC is a preferred method to pay bribes to the politicians. They don't need to pay bribes in the form of crypto, when it can be easily done in the form of fiat cash (either in the physical form or the digital form). The only concern here should be the exchange rate of the national currency (Ukrainian Hryvnia), which has lost almost 70% of its value during the last 5 years.
If I'm the corrupt politician, then definitely I won't accept Bitcoin, I want cold cash in returns of favor. I guess it is still a draft and it looks like the this is not a priority from the Parliament. So I guess crypto trading will continue to flow along that country. But I will assumed that the government will 'forced' taxation along the way, they know that there are lot of money involved here and they want to take part of it.
Ukraine is a very corrupt country. Exemption from cryptographic taxes can give freedom to laundering “dirty money” to members of parliament and the government.
Most of the third world nations are extremely corrupt, and the former-USSR nations such as Ukraine are not an exception. That said, I don't think that BTC is a preferred method to pay bribes to the politicians. They don't need to pay bribes in the form of crypto, when it can be easily done in the form of fiat cash (either in the physical form or the digital form). The only concern here should be the exchange rate of the national currency (Ukrainian Hryvnia), which has lost almost 70% of its value during the last 5 years.
The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
Sounds great but we talk about Ukraine a country with political instability. Me personally i dont like the idea of taxing but i prefer to see some reglementations regarding crypto. 
Legalization and encryption exemption in the encryption industry in Ukraine is conducive to blockchain companies investing in Ukraine!
This has promoted the development of the Ukrainian economy to a certain extent!
In the Verkhovna Rada of Ukraine several draft laws on the regulation of cryptocurrency have already been introduced, including those that provide for moderate taxation. However, until today, none of these bills have been considered. Considering that. that for the sixth year Ukraine has been holding back attacks from Russia on its eastern borders and has already lost about 12,000 people killed and a part of its territory with an industrial area, and a lot of money is spent on strengthening the country's defense capability, it is unlikely that there will be a bill without taxation of profits in cryptocurrency. This has promoted the development of the Ukrainian economy to a certain extent!
Legalization and encryption exemption in the encryption industry in Ukraine is conducive to blockchain companies investing in Ukraine!
This has promoted the development of the Ukrainian economy to a certain extent!
This has promoted the development of the Ukrainian economy to a certain extent!
The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
I think its good for Ukraine people, they can trade crypto in their country with relax. I think taxes is consequences if crypto want to regulate by government. Regulation from government will reducing scam ICOs and its mean government recognize crypto as digital asset
The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
Here in my country, we pay crypto taxes only during our convertion of Bitcoin to fiat in which blockchain transaction service fee and the Bitcoin tax are already deducted so i think this is the most common way of how taxing will be done but i wonder on why there is a timeline for the taxation in Ukrain that why not just extend it until further notice?
Ukraine is a very corrupt country. Exemption from cryptographic taxes can give freedom to laundering “dirty money” to members of parliament and the government.
The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
I think that cryptocurrencies must have complex taxing regulative, because of fact that cryptocurrencies can be used for buying products where should be same tax just like if you are buying with fiat currencies, also cryptocurrencies could be used just for speculation where you should pay capital gain taxes in my opinion. So there should be at least two taxes models for same cryptocurrency because of different use cases.
In Japan, as elsewhere in the world, with taxes strictly. And the government is carefully looking for those who evade taxes. And in Ukraine it is necessary in order to bring to light all the underground cryptobusinessmen.
The Japanese government is seeking to impose measures aimed at preventing cryptocurrency traders and investors from evading taxes on the income generated from trading these assets.
According to The Mainichi, the measures would see the country’s tax body, the National Tax Agency (NTA), empowered to demand that cryptocurrency exchanges provide information concerning clients who are suspected of tax evasion.
It is understood that the government will introduce the measures as part of the tax reforms that are set to be published in the fiscal year 2019. The measures could be implemented sometime in 2020 after the publication period has elapsed.
https://www.ccn.com/japan-to-force-crypto-exchanges-tell-on-suspected-tax-evaders/
The Japanese government is seeking to impose measures aimed at preventing cryptocurrency traders and investors from evading taxes on the income generated from trading these assets.
According to The Mainichi, the measures would see the country’s tax body, the National Tax Agency (NTA), empowered to demand that cryptocurrency exchanges provide information concerning clients who are suspected of tax evasion.
It is understood that the government will introduce the measures as part of the tax reforms that are set to be published in the fiscal year 2019. The measures could be implemented sometime in 2020 after the publication period has elapsed.
https://www.ccn.com/japan-to-force-crypto-exchanges-tell-on-suspected-tax-evaders/
The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
This is quite interesting. I believe the proponents of the bill wants to ensure they cash out as much as they can in the next 12 years before the taxes will be considered. Smart move.When you have a country that is trying to get away from Russia and trying to build a new country for themselves apart from russia and trying to be more western than soviet you get a country that is trying to appeal to western countries. Being cheap helps driving a lot of tourists to the country and Russia can't really attack Ukraine during summer months because it would be risky for them to hurt any other countries tourist.
Plus with crypto bill like this there will be a lot of foreign money coming into Ukraine and that is exactly what Ukraine wants, they want to bring in foreigners to invest into Ukraine heavily so Russia can't attack them with the fear of facing consequences.
Jump to: