Bitcoin will be exempt from taxation in Ukraine. This words could be quite plausible.
All over the world as well as in Ukraine cryptocurrency is in focus. News about Bitcoin and taxes in Ukraine are becoming more and more frequent. It was only four months since the day we had knew about bill project No. 7183 of 10.06.2017 on the circulation of cryptocurrency in Ukraine, and in october we saw "alternative" draft No. 7183-1 of 10.10.2017. Below you will find a link to these both of them.
There were numerous problems (all operations with cryptocurrencies could be regulated as barter operations, cryptocurrency are considered as object of intellectual property rights and so on) in the draft law number 7183 dated 06.10.2017. What about new one "alternative"?
Fortunately, in the new draft law, we see a reconsideration of taxation in favor of more understandable deductions to the Pension Fund of Ukraine. However, the desire of the state to regulate everything and all while not taking on weighty commitments was further aggravated.
Thus, in the last draft of the Law we see the "end" of the anonymity of cryptocurrency market participants (in particular in paragraph 6.1 of article 15 of the draft law). Also in Ukraine we will have licensing procedure of cryptocurrency exchanges. Many propositions seems to be quite logical but some of them are almost absurd.
However, there are also positive points in the last draft law on cryptocurrency. Among them the promise of adopting "special" electricity tariffs for the Miners. However, only the subjects of entrepreneurial activity will have such right.
"And again back to USSR"
Turning to the issue of a strict regulation we simply quote the provisions of the new wording of article 39 (it is supposed to be adopted together with the draft law No. 7183-1) of the Law of Ukraine "On Telecommunications":
"Duties of operators and telecommunication providers
...
18-2) take measures to prevent the access of their subscribers to the websites of financial institutions that provide financial services on the market of cryptocurrency, through which the activities of such financial institutions are carried out without complying with the requirements of the Law "On stimulation of the cryptocurrency market and its derivatives in Ukraine", in including by limiting the access of their subscribers to the websites of the financial institutions through which the activity is carried out, based on a court decision."
We are in anticipation of how Poloniex complies with the requirements of the Law "On stimulating the market of cryptocurrency and its derivatives in Ukraine". The consequences are obvious.
It is hard to imagine how Ukraine is going to break the main philosophy of cryptocurrency including Bitcoin, but with full confidence it can be said that this is not the last attempt. We are waiting for extremely interesting and dramatic events ahead.
Sincerely
Evgeny Movchun
+38 050 643 79 03
#NGOLegalSupport /FB/G+
Ukrainian version of publication
Links on law drafts: No.7183 10.06.2017 and No.7183-1 10.10.2017