Hetmantsev outlines the mechanism for cryptocurrency legalization and taxation in Ukraine
The head of the Verkhovna Rada Committee on Tax Policy, Danilo Hetmantsev, announced a new approach to the taxation of crypto assets in Ukraine. In his speech, he noted that a mechanism similar to the taxation of securities is planned, which involves taxing only the profit — the difference between investments and income earned over the year.
This is reported by AgroReview
According to Hetmantsev, individuals engaging in transactions with crypto assets will be required to submit a tax declaration annually. In the case of losses, they will be allowed to carry them forward to subsequent periods until fully compensated. Additionally, for those who cannot confirm their expenses for acquiring crypto assets, a transitional period in 2026 is provided. During this time, they will have the opportunity to sell their assets, declare their income, and pay a fixed tax of 5% on the amount received.
Taxation mechanism for cryptocurrencies and the transitional period
Hetmantsev stated that this mechanism is intended to stimulate the development of the investment market in Ukraine and make it more civilized. “I believe this will significantly invigorate the investment sector and bring Ukraine closer to modern financial standards that already widely recognize cryptocurrency,” he emphasized.
He also highlighted that earlier the parliamentary committee on finance, tax, and customs policy supported a draft law proposing a simple and clear taxation mechanism — taxing profits, that is, the difference between the costs of acquiring crypto assets and the income from their sale. A transitional period is also provided during which assets can be sold and income declared at a rate of 5% without the need for expense confirmation.
Furthermore, the National Securities and Stock Market Commission proposes to refine the draft law, involving all responsible authorities and considering the opinions of law enforcement agencies to create an effective and transparent mechanism for regulating cryptocurrencies in Ukraine.