In the ever-throbbing heart of Ukraine, where the digital and the fiscal dance a delicate waltz, a most peculiar debate ensues. The wise men of the nation, with their quills poised and their minds sharp, ponder upon a most perplexing question: Shall they demand but a modest tithe of 5-10% from the golden harvest of crypto gains, or shall they grasp at the more bountiful bounty of a full 23%?
As Ukraine steps cautiously toward the bright horizon of crypto legalization, the prospect of a 5-10% levy on such income is bandied about with great fervor. It seems the state, ever eager to swell its coffers and outfit its brave defenders, has set its sights on this digital treasure. Mr. Taras Kozak, a man of considerable influence in the securities regulator’s advisory circle, has deigned to share his thoughts with the local press. “A small tax, I say,” he proclaims, “for our soldiers must be armed, our defenses maintained, and our security ensured!”
“I lean toward a small tax — between 5% and 10%. All citizen income should be taxed because our state lives on this money, our army fights, we buy weapons, and we maintain security.”
Taras Kozak
Yet, the matter is far from settled. Mr. Danylo Hetmantsev, the head of Ukraine’s finance committee, predicts a bill to regulate this digital domain shall soon see the light of day. The first reading, he assures us, shall occur by the end of March, with a second to follow in short order. He speaks of full legalization by summer’s end, though Mr. Kozak is less sanguine, suggesting it may drag on until 2026.
It appears that many within Ukraine’s crypto circles are partial to a meager 5% tax on their gains, but the government, ever the pragmatist, contemplates more standard rates. A personal income tax of 18%, compounded by a 5% military levy, threatens to leave some less than pleased. And woe betide those unable to account for their initial investments, for they may find themselves staring down the barrel of a 23% tax on their entire holdings! Mr. Hetmantsev, it seems, has dashed the hopes of a lower tax, declaring that crypto profits shall be taxed much like stock investments — every last coin of the capital gain is fair game.
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2025-02-28 13:22