Bullet Points
- Belarus has extended its tax exemptions for crypto businesses and miners until 2025.
- Exempted taxes include value added tax, income tax and personal taxes.
- The decree replaces the previous one that required crypto businesses to pay applicable taxes up to 2023.
Belarus Extends Tax Exemptions for Crypto Firms to 2025
Belarus will allow crypto businesses, including miners, to operate tax-free until 2025. Exempted taxes include value added tax, income tax and personal taxes. Belarus is one of the countries looking to incentivize more crypto-related investments.
Tax Free Status in Other Countries
Belarus is one of the many countries not looking to lock out crypto firms from their jurisdiction with excessive taxation. As the regulatory environment becomes increasingly hostile to several crypto firms, other countries such as Singapore, the UAE, Switzerland and Germany have also become crypto tax-free.
No Taxation Till 2025 in Belarus
Offering access to tax-free operations to businesses and industry players is the latest move by Belarus suggesting fresh incentives to crypto related projects. The country unveiled its High-Tech Park in 2017, targeting a new wave of crypto miners, and moved the efforts a notch higher with incentives for crypto firms, including through making initial coin offerings (ICO) legal.
Belarus is taking steps towards creating an attractive environment for cryptocurrency investors by offering them various incentives. With this recent decree allowing companies operating in cryptocurrency business till 2025 without paying any form of taxation it seems like Belarus is set on becoming an attractive destination for those looking into investing or starting a business in cryptocurrencies.
Incentives For Crypto Related Projects
Conclusion