- Income will be taxed at a rate of 19.5%
- And the NBU and the National Securities Commission will take over supervision
The National Securities and Stock Market Commission (NSCM) is finalizing a bill on crypto taxes.
The agency has amended the text of the Virtual Assets Act. The next step is the implementation of new rules and amendments to the Tax Code of Ukraine. By data Forbes, deputies will be able to do this already at the session in September. In this case, Ukraine will become the first country to implement the European bill MiCa.
New rules and taxes
The amendments include the following changes:
- The regulators of the crypto market will be the National Bank (NBU) and the National Commission for Securities and the Stock Market (NKTSBFR).
- All cryptocurrencies will be divided into 3 categories. These are electronic money tokens, asset-linked tokens and other virtual assets.
- The issue of virtual assets can only be carried out by a legal entity registered with the National Securities and Stock Market.
- Profits from crypto-assets are subject to 18% tax and 1.5% military tax.
Important! The 19.5% tax applies only to the profit itself. For example, if an investor bought an asset for UAH 10,000 and then sold it for UAH 12,000, he would pay tax on UAH 2,000 (12,000-10,000).
The bill assumes that all market participants (crypto-exchanges, etc.) must comply with the rules. Here questions arise. For example, will the exchanges begin to levy taxes forcibly, or will it be on the conscience of the clients themselves. So we are waiting for detailed explanations from the NBU and comments from relevant experts.