Ukraine has a robust crypto community, but bringing its regulation to Mica standards still needs to be completed.
Most Ukrainian blockchain companies operate outside the country, and the shadow sector is significant.
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Ukraine has a robust crypto community, but bringing its regulation to Mica standards still needs to be completed.
Most Ukrainian blockchain companies operate outside the country, and the shadow sector is significant.
Ukraine has a considerably dangerous security level, according to our rating. Jurisdiction has 53.2 points (from 100) for safety level in Numbeo crime rating (1). Homicide level (2) is 3.8 per 100,000 inhabitants a year. Story of firearm-related death (3) 1.36 per 100,000 inhabitants a year.
Crypto payments are possible in Ukraine. It is a common practice(4) to buy goods and services for crypto, including marketplaces. Purchases are made through conversion into hryvnia. However, there have yet to be any legal mechanisms for crypto payments in the country.
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On February 18, 2022, the Verkhovna Rada of Ukraine passed the law “About virtual assets”(5).
For the law "On Virtual Assets" to enter into force, the Verkhovna Rada of Ukraine must adopt amendments to the tax code (6). Currently, these amendments have yet to be adopted.
The NBU has been assigned to supervise the turnover of virtual assets backed by currency values. Other virtual assets, including those supported by securities or derivatives, will be supervised by the NCSSM.
It will also issue authorizations and control the activities of service providers related to the turnover of virtual assets. Subsequently, the authorities announced their intention to finalize the law (7). For this purpose, the NCSSM has created an advisory council (8).
The primary regulators are the National Bank of Ukraine (NBU) and the National Securities and Stock Market Commission of Ukraine (NSSMC)(9).
Tax name | Index |
PIT tax Min | 18 |
PIT tax Max | 18 |
Corporate tax (CIT) | 18 |
Min Individual CGT (for crypto) | 18 |
Max Individual CGT (for crypto) | 18 |
Wealth tax Min | 0 |
Wealth tax Max | 0 |
Taxable income from abroad is subject to a tax rate of 18%. by PWC(10).
Based on PWC, Ukraine's standard CIT rate is 18% (11).
Capital gains are subject to the standard CIT rate of 18%, according to PWC (12).
1)Crime Index by Country 2023 Mid-Year
2)List of countries by intentional homicide rate
3)List of countries by firearm-related death rate
4)Криптовалюты и налоги: как это устроено в мире и чему стоит поучиться Украине. Article
5)Пропозиції Президента до Закону "Про віртуальні активи”. Law
6)КАРТА ПРОХОДЖЕННЯ ПРОЕКТУ, ПРОЕКТ ЗАКОНУ УКРАЇНИ. Law
7)Украина обновит закон о криптовалютах согласно требованиям ЕС. Article
8)Разработку налогообложения биткоина в Украине поручили консультационному совету при НКЦБФР. Article
9)НКЦФР (The National Securities and Stock Market Commission of Ukraine). Question and Answers
10)Individual - Taxes on personal income. PWC
11)Corporate - Taxes on corporate income. PWC
12)Overview. PWC