The Ukrainian Stock Market Commission presented the concept of taxation of virtual assets to the Finance Committee of the Verkhovna Rada of Ukraine

The National Securities and Stock Market Commission (NSSMC) presented the concept of taxation of virtual assets to the working group of the Verkhovna Rada Committee on Finance, Tax and Customs Policy. The commission also developed a bill on this issue, said NSSMC Chairman Ruslan Magomedov.

“The commission is leading efforts to create a legislative framework for regulating the virtual asset market. For several years, members of parliament have been discussing this issue, but it was the commission team that took the initiative. Finally, we are seeing progress. We have already prepared a bill (No. 10225), and work on it is actively ongoing,” Magomedov noted on Telegram on Friday.

He added that significant work had been done to create a tax framework for virtual assets based on international experience. This framework covers potential tax models in three main areas: personal income tax, corporate income tax and value added tax (VAT).

Magomedov expressed hope that this structure will help the working group assess risks and make an informed decision regarding the national taxation model.

“The main goal is to create economically sound and balanced conditions that will be beneficial to all interested parties,” he concluded.