Ukraine floats 23% tax on some crypto income, exemptions for stablecoins
Ukraine's financial regulator proposes taxing certain crypto transactions as personal income at rates up to 23%, excluding crypto-to-crypto transactions and stablecoins. The tax framework includes an 18% tax with an additional 5% military levy when cashing out crypto for fiat or exchanging it for goods/services. The framework aims to guide lawmakers in making informed decisions about market impacts and tax liabilities. Mining, staking, hard forks, and airdrops are addressed, with mining considered a business activity and potential tax-free limits for small transactions. Exemptions for donations, family transfers, and long-term holdings are suggested, though non-custodial wallets may not qualify. A draft bill to legalize cryptocurrencies is under review, following a law signed by President Zelenskyy in March 2022 to establish a regulated crypto market.
