President of Belarus Alexander Lukashenko signed Decree No. 80 “On Certain Issues of Taxation”, which extends the effect of tax benefits, and also provides for the development of a promising concept for the development of the digital tokens sector in the country by July 1, 2024.
The Decree on the Development of the Digital Economy of Belarus states that the mining of cryptocurrency, the purchase and sale of tokens by individuals are not considered entrepreneurial activities, and tokens are not subject to declaration.
Thus, the owners of cryptocurrency firms are 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 granted preferences to representatives of the cryptocurrency industry in 2017, fixing them in the first edition of the decree “On the Development of the Digital Economy”.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
