In Ukraine, a draft amendment to the Tax Code concerning the taxation of transactions involving virtual assets (VAs) has been prepared. The document is in ForkLog’s possession.
The draft outlines the tax treatment of VA transactions, income reporting and the tax payment procedures. Under it, the taxable base is the profit obtained from selling VAs or from any other disposition.
A service provider’s profit is taxed at 5% on condition that the company has no other income besides that related to VA activities.
For individuals, a 5% tax is also set and an additional 1.5% military levy.
The documents are being circulated to lawmakers for consideration. The bill is slated for registration next week once it secures the backing of 50 MPs, according to ForkLog, from the inter-factional association of MPs Blockchain4Ukraine.
As a reminder, the previously adopted law ‘On Virtual Assets’ will not come into force without amendments to the Tax Code.
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