A new bill submitted to the Ukrainian parliament seeks to amend the country’s tax code to exempt cryptocurrency income and profits from taxation, including from buying, selling, transacting, and mining, Bitcoin News reported.
According to the note accompanying the bill submitted to the parliament: In order to create an effective mechanism for stimulating the market of cryptocurrency in Ukraine, the logical step is the exemption from taxation of profits of enterprises…Income from cryptocurrency operations should not be included in the calculation of the total monthly (annually) taxable income, and transactions with cryptocurrency and mining crypto goods are classified as transactions that are not subject to taxation.”
This new bill is the third submitted to the parliament for the legal framework of cryptocurrencies.
The first bill proposes considering “cryptocurrency a property that can be exchanged for other goods and services.” The second one offers to treat cryptocurrencies as financial assets.
The High Council of Experts of the National Bank of Ukraine (NBU) held a meeting on October 26 to discuss cryptocurrency regulations, citing the “growing popularity of cryptocurrency in the world.”