How are cryptocurrencies and transactions with them regulated
in the tax legislation?
Cryptocurrencies and transactions with them are not regulated in
the tax legislation of Ukraine. At the same time, having thoroughly
and systematically analyzed the civil legislation, we can conclude
that for tax purposes cryptocurrencies are goods in the form of an
intangible asset. Accordingly, the analysis of the tax consequences
of transactions with cryptocurrencies should be carried out on the
basis of such qualification of cryptocurrencies.
It should also be noted that the carrying out of transactions
with cryptocurrencies without previously received individual tax
ruling can lead to tax surcharges and penalties. Therefore, the
following comments are solely the personal opinion of the author,
the use of which can lead to both positive and negative tax
consequences.
