Token Transactions Taxation: Updates
Some peculiarities of determining the tax base of personal income tax are established by the Edict of the President of the Republic of Belarus of 23.04.2025 № 166 “On taxation of income received from operations with digital signs (tokens)”.
The Edict applies to income (subject to a combination of the following conditions):
- received only from illegal and (or) prohibited by law transactions with digital signs (tokens),
- established in the course of administrative proceedings and reflected in a ruling on an administrative offense.
Recall that illegal and (or) prohibited by law transactions with digital signs (tokens), in particular, include:
- rendering assistance to other persons in transactions with tokens,
- operations on acquisition, alienation of tokens for money (including electronic ones) in the territory of Belarus not through the residents of the High Technologies Park who carry out the corresponding type of activity,
- sale of tokens for money (including electronic ones) on foreign platforms by a citizen located in Belarus at the time of sale or using an account in a Belarusian bank,
- sale of tokens for money (including electronic ones) directly between individuals who are located at the time of sale in Belarus or using an account in a Belarusian bank.
The tax base of personal income tax on the specified income is determined as the product of income and the yield coefficient from transactions with tokens.
The yield coefficient is set annually by the Tax Ministry in accordance with the procedure stipulated by the Edict. The calculation is based on information on the rates of purchase and sale of tokens received from crypto platforms operators and (or) cryptocurrency exchange operators - HTP residents.
