The President of Belarus today legalized cryptocurrency exchanges and zeroed taxes for miners

Today, the leader of Belarus Alexander Lukashenko signed a decree on the development of the digital economy, which received the informal name “decree on HTP 2.0.” The decree provides a list of 38 types of activities in the field of high technologies and a list of tax breaks for them.

One of the important points of the document is the green light for miners. The decree creates conditions for the introduction of blockchain technology into the Belarusian economy, and sets conditions for the use of tokens and cryptocurrencies.

Legal entities and individuals have the right to carry out any transactions with cryptocurrencies - including transfers to regular currency and donations.

Moreover, individuals and entrepreneurs are exempt from taxes when engaged in mining. The exemption applies to income tax, VAT, tax under simplified options, and personal income tax. That is, mining, as conceived by Lukashenko, is not a business activity at all.

Experts point out that when developing the document, the High Technology Park collected the opinions of all residents, as well as IT companies not included in the HTP. Над декретом работали консалтинговые и юридические компании «Алейников и Партнеры», «Власова, Михель и Партнеры», «Бейкер Тилли Бел» и другие.

Самые интересные статьи подписанного документа: 

-Юридические лица вправе создавать и размещать собственные токены в Беларуси и за рубежом через резидентов ПВТ, приобретать, отчуждать токены и совершать с ними other operations through cryptocurrency exchanges, cryptocurrency exchange operators.

-Individuals have the right to own tokens and perform the following operations with them: mining, storage, exchange, their acquisition, alienation for Belarusian rubles, foreign currency, electronic money, as well as donate and bequeath tokens.

-It has been established that the activities of mining, acquisition, alienation of tokens carried out by individuals are not entrepreneurial activities.

-Participants in relations related to the use of tokens are provided with tax and other benefits and preferences.

-Economic entities are exempt from taxation of activities related to cryptocurrencies and tokens, including mining, in particular for token (cryptocurrency) exchange transactions. The exemption applies to income tax, VAT, simplified tax, and personal income tax.

“The President of Belarus supported all the ideas and initiatives of the IT community. Even before it was signed, the decree was sometimes called revolutionary in the press. In fact, that's what he is... Belarus truly creates some of the best conditions in the world for the development of IT, high-tech in general, businesses based on blockchain technology and much more. There is no point in talking much about the decree - its norms speak for themselves,” commented the head of the HTP Administration, Vsevolod Yanchevsky, on the document.

According to https://news.tut.by