⚠️ Belarus🥔: New tax rules for cryptocurrency operations starting January 1, 2025

⚠️ Belarus🥔: New tax rules for cryptocurrency operations starting January 1, 2025

Currently, activities with digital tokens are only permitted within the High-Tech Park (HTP), designed to promote the IT sector and cryptocurrency projects. Therefore, the regulation only affects operators who are residents of the HTP, which can be legal entities or individual entrepreneurs. Note: If the amendments are approved, tax benefits will be significantly reduced.
What changes will be implemented for individuals ❓
➡️ It is proposed to add Article 202-1 to the Tax Code. If approved, all income generated from operations with digital tokens, such as buying and selling, mining, or trading, will be subject to a 13% income tax.

➡️ Exceptions are established for:

• Residents of the High-Tech Park (HTP); their income from mining, token creation, or exchange will not be taxed unless linked to illegal activities.
• Assets received by inheritance or as a gift.

➡️ Income from "grey" activities will be subject to a higher tax rate of 26%.

For legal entities:

➡️ A 9% rate on gross profits will be established as the income tax.

➡️ Profits from the sale of tokens will not be subject to VAT.

➡️ Additionally, digital assets may be sold to both Belarusian residents and foreign entities.
Experts believe these changes are unlikely to cause a mass exodus of cryptocurrency companies from Belarus, as the country remains an attractive destination for those looking to collaborate with Russia🇷🇺.

#news #belarus #crypto

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