Ukrainians to Pay 19.5% Income Tax on Their Profit From Cryptocurrency

[Vladar49]

Crypto market in Ukraine remains unregulated, however, the government wants to impose taxes on this area anyway. According to an official from the Finance Ministry, a regular income tax is expected to be imposed on any digital currency activity, such as mining or trading.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/ukrainians-to-pay- ... ocurrency/

[Nilar]

That's if they will catch you anyway. And how it will be controlled, lot of people just withdraw USD and EUR to their personal banking accounts and that's it;) And nobody pays that 18% + 1.5% war tax in current conditions. They should do it automatically like with fixed deposits;)

[ErikaSanders]

That's if they will catch you anyway. And how it will be controlled, lot of people just withdraw USD and EUR to their personal banking accounts and that's it;) And nobody pays that 18% + 1.5% war tax in current conditions. They should do it automatically like with fixed deposits;)

Yes, but they pay this tax from their official salaries and pensions, so the general sum is really big. And it would be great to know that all this money goes for solving the issue as we all know about the level of corruption in Ukraine.

[juliusbag]

Wow, that's a lot... But there are so much black money in the Ukraine, so I don't think it will affect cryptopeople.

[CryptoWarrior]

It's cool to see how the third world countries recognize cryptocurrencies, but tax is too damn big, and who gonna pay it anyway? why people can't just trade anonymously?

[Qyuhn]

With such a percentage, everyone who was involved in cryptocurrency activities will hide their income and look for ways to avoid paying this tax.

[typical_user]

Crypto created for avoid taxes and banks

>Ukrainians to Pay 19.5% Income Tax

[BitcoinQueEs]

Ukraine does love its bureaucracy and financially oppressing it's own people. I have a feeling they will have trouble enforcing it, though.

[nandibear]

Here's the source:

Deputy Minister of Finance Sergey Verlanov: The time for reform in PowerPoint format is over
by Galina Kalachova
September 6th, 2018

https://www.epravda.com.ua/rus/publications/2018/09/6/640249/

The article (it's very long) mentions cryptocurrency twice. It also mentions, among many other tax applicable items, electric car imports which apparently weren't being taxed.

Talks about a new tax police (this was 2018 though).

Any errors in the foregoing are mine alone (based on what I read (or skim reading) after translation the Ukrainain to English.

[OneChain]

19% tax is too crazy!!!

[Dogas]

19% is too much. Even when there was no talk of taxes, everyone hid their income from cryptocurrency, if such a tax is introduced, then people will simply work in the shadows.