- Belarus has announced that crypto businesses, including miners, can operate without paying taxes until 2025.
- Tax relief is available for value added tax, income tax and personal taxes.
- The country is doing its best to attract more crypto-related investments.
Belarus is just one of the many nations that are not trying to shut out crypto companies by imposing burdensome taxation.
The latest news from Belarus has revealed that the country has prolonged its tax exemptions for crypto related businesses and entities.
This move puts Belarus in the same league as Singapore, the UAE, Switzerland and Germany, which are now all tax-free for cryptocurrency firms.
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Crypto Companies in Belarus Enjoy Tax Exemptions Until 2025
According to details in the local news outlet AFN, Belarus president Aleksander Lukashenko recently signed a decree that allows crypto miners and developers to operate without paying any taxes within the country until 2025. This applies to personal tax, value-added tax and income tax.
The decree also applies to individuals and firms that are exchanging coins and tokens for the Belarusian ruble and foreign currencies.
AFN reported Thursday that the new decree replaces the previous one that required crypto businesses and people working in the industry to pay applicable taxes up to the of 2023.
The country is clearly sending a message that it wants to attract more crypto related investments.
Belarus unveiled its High-Tech Park in 2017, targeting a new wave of crypto miners, and moved the efforts a notch higher with incentives for crypto firms, including by legalizing initial coin offerings (ICO).