The Ukraine parliament would be taxing profits generated from cryptocurrencies by individuals and commercial entities at 5% as per the recent proposal. The bill emphasized that the disclosure of such gains are to be reported separately from the other forms of income. The commercial entities would be taxed at 18% from 2024 on the approval of the bill.
Since the implementation of tax charges towards cryptocurrency, the Japanese tax authority revealed the high-income taxpayers declared cryptocurrency profits for the first time. Jiji Press reported, “The number of taxpayers with miscellaneous incomes of 100 million yen and over from sources other than public pensions jumped from the previous year’s 238 to 549,” and 331 generated income from crypto transactions.
The Poland Finance Ministry has declared that the income generated from cryptocurrencies will not be taxed. The Ministry of Finance (MoF) is performing a detailed study in regulating the crypto industry. The government has also recently cracked the use of cryptocurrencies in Poland reasoning the increase in money laundering and tax evasion cases.