Belarus to create a regulatory environment for circulation of cryptocurrencies
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Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#2No taxes (until 2023) on mining, selling/buying tokens. Here are details:
• The rights of physical and legal entities in terms of token circulation are defined. Legal entities are entitled to possess tokens, create and list their own tokens through HTP residents; buy, exchange tokens and perform other operations using tokens only through the cryptocurrency exchanges and cryptocurrency exchange operators. • Individuals are entitled to possess tokens; perform mining; exchange tokens, buy and sell them for Belarusian rubles, foreign currency, e-money, as well as present and bequeath tokens. The mining activity of individuals, tokens purchasing and sale shall not be considered entrepreneurial activity. • Tokens and revenues from operations with them shall not be subject to declaration by the individuals. • Turnovers, profits (income, proceeds) from various operations with tokens are not recognised as taxable items until January 2023.
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#3There's some interesting chances here for governments.
In the 80's, Luxembourg introduced some progressive tax-incentives for space companies. The inflow of business related to space (mainly satellite parts and software suppliers) has had and enormous impact on the economy of Luxembourg.
I think there's chances in the Crypto/blockchain space for small economies as well.
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#4No taxes (until 2023) on mining, selling/buying tokens. Here are details: • The rights of physical and legal entities in terms of token circulation are defined. Legal entities are entitled to possess tokens, create and list their own tokens through HTP residents; buy, exchange tokens and perform other operations using tokens only through the cryptocurrency exchanges and cryptocurrency exchange operators. • Individual…
So we're all setting up shop in Belarus to get our Crypto profits tax-free?
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#5No taxes (until 2023) on mining, selling/buying tokens. Here are details: • The rights of physical and legal entities in terms of token circulation are defined. Legal entities are entitled to possess tokens, create and list their own tokens through HTP residents; buy, exchange tokens and perform other operations using tokens only through the cryptocurrency exchanges and cryptocurrency exchange operators. • Individual…
So we're all setting up shop in Belarus to get our Crypto profits tax-free?
There are plenty of European countries and other tax havens that offer tax free gains with a much better track record of trustworthiness.
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#6No taxes (until 2023) on mining, selling/buying tokens. Here are details: • The rights of physical and legal entities in terms of token circulation are defined. Legal entities are entitled to possess tokens, create and list their own tokens through HTP residents; buy, exchange tokens and perform other operations using tokens only through the cryptocurrency exchanges and cryptocurrency exchange operators. • Individual…
So we're all setting up shop in Belarus to get our Crypto profits tax-free?
you got it
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#7No taxes (until 2023) on mining, selling/buying tokens. Here are details: • The rights of physical and legal entities in terms of token circulation are defined. Legal entities are entitled to possess tokens, create and list their own tokens through HTP residents; buy, exchange tokens and perform other operations using tokens only through the cryptocurrency exchanges and cryptocurrency exchange operators. • Individual…
Some oligarch must've invested into cryptocurrencies, otherwise they wouldn't give a crap about it.
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#8So Belarus becomes tax heaven for crypto-currencies, but is it safe heaven? One can transfer money out of Belarus but then one's country tax collector will knock the door. And what if one day Mr Alexander decides to nationalize these companies including foreign currency assets?
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#9Just FYI Belarus is not a democracy and the laws change at the whim of the rulers. Read the journal of this blogger who got arrested there https://www.bbc.com/news/amp/blogs-trending-38804499, the people(the foreign nationals) who were in jail with him...
Re: Belarus to create a regulatory environment for circulation of cryptocurrencies
#10So Belarus becomes tax heaven for crypto-currencies, but is it safe heaven? One can transfer money out of Belarus but then one's country tax collector will knock the door. And what if one day Mr Alexander decides to nationalize these companies including foreign currency assets?
Nothing is safe. A fact, that validity period of HTP's special legal status will be extended until Jan 2049, give us some level of confidence. It won't be that easy to turn around.