Back

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

Cover image via U.Today

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.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

Recommended articles
Russia and China Want to Stop Their People from Buying Bitcoin: Investor Marius Landman

Russia and China Want to Stop Their People from Buying Bitcoin: Investor Marius Landman

XRP Liquidity Index on Largest ODL Venue Hits New ATH

XRP Liquidity Index on Largest ODL Venue Hits New ATH

CoinMarketCap Upgrades Ranking System for Cryptocurrency Trading Pairs. Here's What's New

CoinMarketCap Upgrades Ranking System for Cryptocurrency Trading Pairs. Here's What's New