As of 1 January 2025, changes in the tax legislation of the Republic of Belarus regarding the payment of taxes on income of individuals on transactions with tokens have come into force. Also, the tax exemptions extended by the Decree of the President of the Republic of Belarus No. 80 of 28 March 2023 ‘On Certain Taxation Issues’ will be terminated. Chapter 18 of the Tax Code, which regulates the procedure for calculating and paying income tax, from 1 January 2025 is supplemented by Article 202-1, which establishes the procedure for calculating and paying personal income tax on income received on transactions with tokens.
We tell you what has changed and how it will affect TRADEX clients - individuals.
What is subject to income tax?
Income from authorised token transactions on exchanges and trading platforms that are not residents of the High Technology Park (HTP) will be taxed at a rate of 13% if a tax return is filed. If no declaration is filed, income will be taxed at the rate of 26%. Tax deductions provided for in Articles 209-211 of this Code will not be applied and expenses provided for in Article 205 of this Code will not be taken into account.
What is not subject to income tax?
- Income from transactions with tokens created or acquired through residents of the High Tech Park
- Income from mining
- Income from exchanging tokens for other tokens (exception - income received as part of activities that are illegal and/or prohibited by law)
- Tokens received as an inheritance or gift. The annual donation limit for all sources of income is taken into account - 11,516 Belarusian rubles.
TRADEX Crypto Exchange is a resident of the High Technology Park, so income from transactions of individuals on our exchange is not taxed! This means that TRADEX clients - individuals - will not be affected by the changes!
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