How will virtual assets be taxed in Ukraine? The NSSMC presents possible options

The National Securities and Stock Market Commission is actively working to create a legislative framework for regulating the virtual assets market. In particular, the working group of the Committee on Finance, Taxation and Customs Policy of the Verkhovna Rada of Ukraine continues to work on the draft law on a regular basis.

An important part of this process is to coordinate the taxation system for virtual assets. This issue falls within the competence of the tax authorities and the relevant Verkhovna Rada Committee, but it is important for the NSSMC to outline the advantages and disadvantages of different models to all parties involved. To this end, the NSSMC’s team has developed a taxation matrix that clearly demonstrates how different options can affect the market and tax liability.

‘In the digital era, the issue of cryptocurrency taxes is not a hypothesis, but a reality that is fast approaching. The task of the matrix developed by the NSSMC is to help the responsible authorities make an informed resolution. And in this process, it is important to take into account the advantages and disadvantages of each model, as these aspects can have a critical impact on the market and tax liability. We have previously presented the document at a working group under the relevant Committee of the Verkhovna Rada, and now we want to introduce it to potential participants in the virtual asset market,’ wrote Ruslan Magomedov, NSSMC Chairman, in his Telegram channel.

The full text of the matrix is available at the link.
We also remind you that the NSSMC’s team is open to dialogue with the crypto community. If you have any ideas and suggestions on market regulation, please send them to the contact email – [email protected].