Ukrainian Cryptocurrency Investors Will Pay the 19.5% Income Tax

Bitcoin miners and traders in Ukraine will have to pay the income tax of 19,5%.

Crypto investors in Ukraine will pay the 19.5% income tax on their profits from such activities related to cryptocurrency, as mining or trading. A representative of the Ministry of Finance in Ukraine, Sergey Verlanov, said that it is a rhetorical question, whether the tax of 19.5% on income from cryptocurrency is large or small.

Verlanov added that under the laws of Ukraine a cryptocurrency (while it still doesn’t have legal status) is an intangible property. He also compared buying and selling Bitcoins with buying and selling tanks in the popular game World of Tanks.

At the same time, Sergey Verlanov is convinced that the legal status of cryptos should be determined in Ukraine. Until this happens, those who report profits from cryptocurrency activities can declare them in either the ‘financial assets’’ section or the ‘property’ section of electronic declarations.

In May 2018, BitcoinBuster shared with the readers that the Ukrainian Government is going to legalize cryptocurrency.

And what do you think? Is the income tax of 19,5% high or normal for crypto trading/mining?