The National Securities and Stock Market Commission (NSSMC) has presented a draft matrix describing options for taxation of transactions with virtual assets in Ukraine. The innovations also affect cryptocurrency, which is rapidly gaining popularity among Ukrainians.
The draft document has been published on the regulator's website. It proposes to tax profits from the sale of cryptocurrency, received in fiat or in the form of goods or services. It also plans to tax payments for goods and services directly in cryptocurrency.
Tax rates will vary depending on the type of transaction. The standard rate will be 18% plus 1.5% military levy. However, for some cases, preferential rates of 5% or 9% are proposed, which are still being discussed.
However, some actions with virtual assets are proposed to be tax-free. These include: mining, staking, holding or storing tokens, token creation, and airdropping — provided that it is not used to pay for goods or services.
The Chairman of the National Securities and Markets Commission of Ukraine Ruslan Magomedov noted that this matrix is based on international experience and adapted to Ukrainian realities. According to him, the document has already been presented to the working group under the relevant committee of the Verkhovna Rada, and is now presented to potential participants in the crypto market.
"Our task is to help the authorities make a balanced decision. It is necessary to assess the benefits and risks of each taxation model, because they critically affect both the market and tax responsibility," Magomedov explained.
We will remind, in February, the head of the budget committee of the Verkhovna Rada, Danylo Hetmantsev, stated that the legalization of cryptocurrency in Ukraine is a matter of time.
Cryptocurrency is also increasingly appearing in the electronic declarations of Ukrainian civil servants. In 2024, the number of declarants who indicated digital assets increased by 10% compared to the previous year. And compared to 2021, by an impressive 220%.
