Ukraine presents a model for taxation of digital assets
Date: 2025-03-17 Author: Henry Casey Categories: IN WORLD
A tax matrix was presented at a meeting of the working group of the Verkhovna Rada Committee, including three areas - personal income tax (PIT), corporate tax and value added tax (VAT). According to the head of the NSSM Ruslan Magomedov, the development of the tax structure was based on international experience, and active work is currently underway on the relevant bill.
“For a long time, people's deputies discussed this issue, but it was our team that took the initiative and moved the process forward,” Magomedov noted. He emphasized that the main priority now is to create a fair and sustainable taxation system that will be convenient for all market participants.
At the moment, the details of the proposed mechanism remain unknown.
In December 2024, the International Monetary Fund postponed the deadline for preparing updated legislation on the regulation of virtual assets in Ukraine until the end of February 2025. The issue of developing a regulatory act remains within the competence of the NBU and the National Securities and Stock Market Commission.
Earlier, the entry into force of the Law on Virtual Assets, adopted in 2021, was postponed until the tax policy in the field of cryptocurrencies was approved. The new bill proposes the abolition of tax benefits on bitcoin transactions, and its adoption is expected in the first half of 2025.
The inclusion of cryptocurrency regulation in the National Revenue Strategy of Ukraine for 2024-2030 and the €50 billion reform plan emphasizes the importance of this issue for the country's economy.
