Belarus extends tax breaks for crypto businesses until 2025

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The Government of Belarus has extended the validity of tax benefits for cryptocurrency companies until January 1, 2025.

President of Belarus Alexander Lukashenkosigned decree No. 80 “On certain tax issues”, which extends the validity of tax benefits, and also provides for the development, until July 1, 2024, of a promising concept for the development of the digital token sector in the country.

In the Decree on the development of the digital economyBelarus states that cryptocurrency mining, purchase and sale of tokens by individuals are not considered entrepreneurial activities, and tokens are not subject to declaration.

Thus, the owners of cryptocurrency firmsare exempt from paying personal income tax, value added tax and corporate income tax. In addition, the new law allows foreign owners of fintech companies and their employees to enter the country without a visa.

For the first time, the government of Belarus provided preferences to representatives of the cryptocurrency industry in 2017, enshrining them in the first edition of the decree “On the development of the digital economy.”

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