The Parliament of Ukraine registered a new draft law “On Amendments to the Tax Code Relating to Taxation of Transactions with Virtual Assets in Ukraine“. According to the portal FinClub, the draft law is registered at number 9083, and the initiators were Alexey Mushak and 22 other people’s deputies.
This bill will introduce such concepts as virtual assets, tokens, mining and others. The new law provides for the imposition of profits of enterprises on transactions with virtual assets at a rate of 18%. These changes will have to enter into force on January 1, 2024.
The project also provides for the period when the legal regulation of the crypto-cash market has been established, from the moment of signing the law and until December 31, 2023. For this period, the new draft law stipulates the rate of the enterprise profit tax rate for this type of activity of 5%.
An exception is the taxation of profits from operations with tokens. They are considered as assets that certify the right to goods and the profit received from operations with tokens will be taxed at a different rate.
It is worth recalling that Ukraine is among the top ten countries in terms of the number of users in virtual currency. Ukrainians attracted more than $ 100 million due to the placement of crypto-currencies. It was also previously reported that the Department of CyberPolicy is determined to provide digital assets with a legal status for the ability to control the market and detect fraud.