On April 24, the Finance, Tax and Customs Policy Committee of Ukraine’s Verkhovna Rada will review the updated draft law “On Virtual Assets” in its first reading. This was announced by the committee’s head, Danylo Hetmantsev.
@getmantsev_danylo Законопроект про віртуальні активи – про регулювання обігу, статус регуляторів, оподаткування. В четвер будемо розглядати на комітеті. Всі питання пишіть в коментарях до відео чи в telegram getmantsevdanil. #гетманцев #криптовалюта #крипта #віртуальніактиви #податки #новини ♬ оригінальний звук — Данило Гетманцев
The draft includes provisions on the regulation of circulation, taxation, and the status of regulators.
According to Hetmantsev, the document proposes to tax profits from cryptocurrency transactions, as it is considered “the simplest and most understandable model.”
“The tax is levied on the difference between what the cryptocurrency owner spent on its acquisition during the reporting annual period and the income received from its sale,” the official explained.
The standard rate is 18%. A transitional period is provided, during which citizens can sell and declare income from virtual assets at a 5% rate without confirming past acquisition costs.
One unresolved issue is determining who will regulate the cryptocurrency market in Ukraine. This is expected to be addressed in subsequent readings.
Earlier in April, Ukraine’s NSSMC published a detailed matrix for the taxation of virtual assets. As one possible option, the regulator suggested an 18% tax rate on Bitcoin transactions. Hetmantsev described the document as “detached from reality.”