cryptotax

Ukraine still hasn’t adopted its official cryptocurrency taxation bill the second reading won’t happen until early 2026 yet the Ministry of Finance and the State Tax Service have already launched a campaign called “Taxes Protect.”

And what are they explaining?
How we should already be paying taxes on crypto income… despite the fact that the Tax Code still doesn’t legally define “crypto assets,” “cryptocurrency,” or their tax status.
Yes. You read that correctly. 😂

💭 The Big Problem

There is no legal definition of:

crypto assets

how to classify them (property? claim? payment instrument?)

how traders, private entrepreneurs, miners, or freelancers should report them

But the message from fiscal authorities is:
“Just pay taxes — we’ll figure out the laws later.”

🤦 A Few Questions No One Answered

If I’m a private entrepreneur, do I still pay 18% + 5%?

What counts as working in the field of crypto trading?

How do I calculate capital gains if losses aren’t considered?

What documents prove “capital gain” if exchange statements aren’t fiscal documents?

If I report everything myself, do I risk a retroactive tax audit?

No explanations.
Just cheerful infographics — like something made for a kindergarten class — showing how “simple” the process is.

💸 Their Suggested Taxation Model

According to the presentation:

Personal income tax: 18%

Military tax: 5%

Basis: Net capital gain

But here’s the catch:
If yesterday you lost ₴100,000 and today you made ₴10,000…
They still count it as +10,000 gain, ignoring previous losses entirely. 😂

🏦 The “Bad Guy” Narrative

The presentation ends with emotional messages blaming underfunded:

military

emergency services

kindergartens

…on people who “don’t pay crypto taxes.”
Not a word about inefficient governance or wasteful ministries.

💳 My Personal Favorite Part

They warn that receiving crypto-related money on:

personal bank cards

or in cash

…is “bad practice.”
Anyone who has used P2P even once knows this is literally how 100% of non-exchange fiat flows work in Ukraine.

This shows a deep misunderstanding of the market from the very authorities trying to regulate it.

⚖️ Legal Reality

With no law, unclear asset classification, and no defined mechanisms for:

tax agents

calculation methods

documentation

…the first fine for “crypto tax evasion” would collapse in court immediately.

🎯 Final Thoughts

This is yet another attempt to pressure crypto users before giving them a legal framework.
In the midst of war and crisis, such incompetence isn’t just unhelpful it’s harmful.
Ukraine needs modern, clear legislation, not improvised “guidelines” that contradict reality.

I’ll keep watching how this unfolds.

#CryptoNews #ukrainecrypto #RegulationUpdate #web3community #cryptotax