Belarus Extends Tax Benefits for Crypto Industry for 2 Years

Aleksandr Lukashenko, the president of Belarus, has signed a decree which extends the tax preferences in the cryptocurrency sector until January 1, 2025.

This applies to the residents of the High Technology Park, who since 2018 have been permitted to trade cryptocurrencies and tokens in a framework mode.

The decree specifies that the acquisition, alienation, mining and exchange of tokens for any currencies are not subject to personal income tax, which was previously valid until January 1, 2023.

The document also requires the HTP administration to develop a concept for the development of the token sphere, including taxation, by July 1, 2024.

In late November 2022, the president proposed to register in the Tax Code the possibility of regulating the taxation of cryptocurrency transactions by other laws.