The President of Belarus Alexander Lukashenko signed a decree on the extension of tax preferences in the cryptosphere until January 1, 2025. This was reported by the press service of the Belarusian President.
“The President signed a decree <...> which extends until January 1, 2025 the effect of tax preferences in the cryptosphere,” the message says. In particular, the decree provides for the development by July 1, 2024 of a concept for the development of the sphere of digital signs in the republic.
Such benefits were previously valid until January 1, 2023. According to them, the acquisition, alienation, mining and exchange of tokens for any currencies are not subject to personal income tax.
Belarus became the first country in the world to legalize cryptocurrency activities on its territory.
After signing the relevant decree, Lukashenka proposed opening bitcoin mining farms. “Let's build farms and mine these bitcoins and sell them. Moreover, they say that if there is bitcoin, it is not a problem to sell it, ”the president of the republic said then.
In Russia, a similar property tax regime is applied to cryptocurrency. Upon receipt of income from the sale of such currency, a person is obliged to pay personal income tax in the amount of 13%, with an income of more than 5 million rubles. - 15%. However, advertising and using cryptocurrency as a means of payment is prohibited.