Ukraine to Charge Regular Income Tax on Non-Corporate Crypto Profits

Ukrainian government wants to gain their citizens’ crypto profit. Officials report their income of crypto transactions before coins are even getting any particular status

Fri, 7/09/2018 - 14:04

Ukraine to Charge Regular Income Tax on Non-Corporate Crypto Profits

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Similarly to other countries, the Ukrainian government wants to gain part of their citizens’ crypto profit– in the form of taxes. Ukrainian state officials report their income from crypto transactions before electronic coins are even getting any particular economic status.

The deputies of Ukrainian government reckon that when electronic assets do receive an economic status, online exchanges will make sure traders declare their income and specify the source of it.

So far, Ukrainian deputies have declared their crypto either as property or as financial assets. Regular citizens are offered to do likewise. Otherwise, the situation with the legal status of virtual coins remains unclear.

#Cryptocurrency exchange

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.