Taxing Times in Ukraine: Crypto Cash-Outs Face 23%, Trading Exempt
- The NSSMC has formulated how to tax crypto transactions in Ukraine.
- Stablecoins and crypto-to-crypto transactions will not be taxed in Ukraine.
- The proposed tax regime is to create guidelines for growing the crypto market.
Ukraine’s National Securities and Stock Market Commission (NSSMC) has proposed taxing cryptocurrency transactions nationwide. Key details from the NSSMC’s submitted framework outline an 18% income tax and a 5% military levy.
Which Transactions Trigger the Levy?
The Commission highlighted that the tax would apply when users convert cryptocurrency to fiat or use it to purchase goods and services. Since legalizing crypto in 2022, Ukraine’s government aims for this framework to provide clear guidelines supporting regional crypto market growth.
According to NSSMC Chair Ruslan Magomedov, crypto taxes are a “fast approaching reality,” not merely a hypothesis, he stated. He views the crypto tax regime as an urgent issue requiring immediate attention.
Why Exempt Trading and Stablecoins?
Despite the chair’s firm stance, the commission’s proposed framework exempts crypt…
The post Taxing Times in Ukraine: Crypto Cash-Outs Face 23%, Trading Exempt appeared first on Coin Edition.
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Taxing Times in Ukraine: Crypto Cash-Outs Face 23%, Trading Exempt
- The NSSMC has formulated how to tax crypto transactions in Ukraine.
- Stablecoins and crypto-to-crypto transactions will not be taxed in Ukraine.
- The proposed tax regime is to create guidelines for growing the crypto market.
Ukraine’s National Securities and Stock Market Commission (NSSMC) has proposed taxing cryptocurrency transactions nationwide. Key details from the NSSMC’s submitted framework outline an 18% income tax and a 5% military levy.
Which Transactions Trigger the Levy?
The Commission highlighted that the tax would apply when users convert cryptocurrency to fiat or use it to purchase goods and services. Since legalizing crypto in 2022, Ukraine’s government aims for this framework to provide clear guidelines supporting regional crypto market growth.
According to NSSMC Chair Ruslan Magomedov, crypto taxes are a “fast approaching reality,” not merely a hypothesis, he stated. He views the crypto tax regime as an urgent issue requiring immediate attention.
Why Exempt Trading and Stablecoins?
Despite the chair’s firm stance, the commission’s proposed framework exempts crypt…
The post Taxing Times in Ukraine: Crypto Cash-Outs Face 23%, Trading Exempt appeared first on Coin Edition.
Read More
Mike Novogratz's Galaxy Digital Swaps $100M ETH for SOL, On-Chain Data Shows