Cryptocurrency Short News

Crypto Regulations: Ukraine to Apply 5% Tax on Crypto Gains

Ukraine’s Digital Transformation Ministry, Blockchain4Ukraine has proposed a bill to tax the crypto income. Better Regulation Delivery Office (BRDO) organization and 12 other members came together to draft this bill. Ministry said that the bill defines crypto as a valuable property. It further adds that the crypto gains will be seen as income. 5% tax will be levied on these gains till the initial 5 years. However, the Ukraine government is lenient enough to not apply an 18% standard tax rate in the initial phase itself. Also, the crypto asset sales are not liable for Value Added Tax(VAT).

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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