Belarus extends tax incentives for the Bitcoin industry until January 1, 2025

Belarusian President Alexander Lukashenko signed a decree extending tax incentives in the cryptocurrency sphere until January 1, 2025.

The document applies to residents of the Hi-Tech Park (HTP), within whose territory since 2018 cryptocurrency and token trading has been allowed under a framework regime.

Under the decree, the acquisition, disposal, mining and exchange of tokens for any currencies are not subject to personal income tax.

Previously these benefits were in effect until January 1, 2023.

The document also requires the administration of the HTP to develop a concept for the development of the token sphere, including taxation, by July 1, 2024.

Earlier in November 2022, the Belarusian president proposed to enshrine in the Tax Code the possibility of regulating taxation of cryptocurrency operations by other laws.