It’s time to share. In Ukraine, want to impose a tax on cryptocurrency

It’s time to share. In Ukraine, want to impose a tax on cryptocurrency

Ukraine closer to to give the cryptocurrency a legal status. But in addition to this status they will receive tax and regulation.

As found in the near future in the Verkhovna Rada will appear a collective bill, which envisages the introduction of a tax of 5% on the conclusion of cryptocurrency asset exchanges in Fiat. The document works Deputy BPP Alex mushak. He previously told me that it is doing so together with a group of 20 representatives of different companies.

Alex music announced that the bill will be submitted to Parliament from a group of people’s deputies in September. The tax rate of 5% on the difference between the selling price of the token and documented its purchase price (or cost of mining?) will enter from 2019 on a temporary basis — by 2025. Individuals will pay military tax in the amount of 1.5%. The tax will only apply to withdraw funds in Fiat or purchasing of goods and services (real estate, for example). Transactions between different cryptocurrencies to tax will not.

“The state should not touch the exchange of the crypt to the crypt. But out in the Fiat or in the real sector (purchase of goods) to fix. 5% looks the best option. In fact — it is the price of legalization of the income from a crypt”, — said managing partner of law Yuskutum Artem Afian.

According to Mushaka, market participants perceive the project positively.Not clear market volumes, which will operate the new tax. Alexey mushak heard about the figure of 2-3 billion UAH. But the exact data has not.

According to the project of Alexey Mousaka, controller cryptocurrency market by the national Commission on securities and stock market. Its leader Timur Limp reported recently that the Ministry has already prepared a concept for the regulation of operations with cryptocurrencies. It is not yet public. But according to the infographic, the Commission is going to take not only for licensing kryptomere and criptomeria, but also for market regulation ICO.

“The Commission shall establish the procedure and requirements for procedure. ICO”, — said the press service of the regulator.

As explained in the Commission, there now exists a number of problems associated with unpredictable legal consequences from the activities to the crypt and protect the rights of consumers in this market. As the adviser to the head of the Agency for e-governance of Ukraine Konstantin Yarmolenko, the ICO regulation of national securities Commission should be to protect investors, but in any case not for the sake of regulation.

Alexander Momot, CEO of the project REMME, who in February raised to the ICO about $18 million in 24 hours, ever said that to promote the cryptocurrency sphere, you need to declare tax and regulatory holidays.

“Our do not understand. Used to approach the issue as usual. This industry is very thin, even in developed jurisdictions is difficult to control,” he says.

It is noteworthy that neighboring Belarus, at the end of last year legalized cryptocurrency, mining and other phenomena of cryptoeconomy. But the President of the country Alexander Lukashenko signed a decree according to which all industry is exempt from taxes until 2023.

Managing partner of the investment Fund AVentures Capital Andrey Kolodyuk believes that the key cryptogram (exchange, exchanges), with a good reputation in the global market, should be allowed to Ukraine is not on the license, and the application procedure. That is, a company just needs to inform the state about the beginning of the activity. Under the internal rules, of course. According to CEO, UVCA (Ukrainian venture capital Association and private equity — approx.ed.) already addressed two of the world’s major cryptocurrency exchanges which are interested in when in Ukraine there will be local banks, licensed exchange operations of Fiat in the crypt and Vice versa.

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