Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of April 23, 2025 No. 166

About the taxation of income gained from implementation of transactions with digital signs (tokens)

For the purpose of enhancement of procedure for the taxation the income tax from physical persons of income gained from implementation of transactions with digital signs (tokens) (further - tokens):

1. Determine that:

1.1. tax base of the income tax from physical persons according to income gained on transactions with tokens when implementing activities which according to legal acts are illegal and (or) are forbidden, determined as the work of the income gained from such transactions established within conducting administrative process and reflected in the resolution on the case of administrative offense and yield ratio from transactions with tokens (further - yield ratio);

1.2. the yield ratio is established by the Ministry of Taxes and Tax Collection annually no later than March 1 on the first of the current calendar year and applied in case of determination of tax base of the income tax from physical persons according to the income specified in subitem 1.1 of this Item and received in this calendar year on transactions with tokens when implementing activities which according to legal acts are illegal and (or) is forbidden.

The yield ratio for 2025 is established by the Ministry of Taxes and Tax Collection in two-month time from the date of entry into force of this Decree and applied in case of determination after entry into force of this Decree of tax base of the income tax from physical persons according to the income called in subitem 1.1 of this Item and received on transactions with tokens when implementing in 2025 and preceding tax periods of activities which according to legal acts are illegal and (or) is forbidden.

The procedure for determination of yield ratio is established in appendix.

2. Local councils of deputies by consideration of question of provision of privileges on the income tax from physical persons estimated before entry into force of this Decree according to income gained on transactions with tokens when implementing activities which according to legal acts are illegal and (or) it is forbidden, have the right to consider the procedure for determination of tax base of such tax established by this Decree.

3. This Decree becomes effective after its official publication.

Appendix

to the Presidential decree of the Republic of Belarus of April 23, 2025 No. 166

Procedure for determination of yield ratio

1. The yield ratio is determined based on data on buying rates and sale of the cryptoplatforms by operators and (or) operators of exchange of cryptocurrencies who are residents of the Park of high technologies (further - operators), three types of tokens concerning which for the expired calendar year they make the greatest number of transactions of purchase and sale * (further - data).

2. Data are created by operators by each type of token as of 23 hours 59 minutes for each calendar day of the expired calendar year and are represented to public institution "Secretariat of the Supervisory board of the Park of high technologies" (further - the secretariat of the Supervisory board of PVT) no later than February 1 of the year following for expired **. If the specified date is the share of day off and (or) holiday, such data are represented no later than the next working day.

3. The secretariat of the Supervisory board of PVT determines average day yield by each type of token as private the selling rate of token and rate of its purchase.

Average annual yield of each type of token is determined as arithmetic average of average day yields for the expired year.

The arithmetic average of annual dokhodnost of all tokens less unit is yield ratio.

Calculation of yield ratio annually no later than February 15 *** goes the secretariat of the Supervisory board of PVT to the Ministry of Taxes and Tax Collection for decision making about its establishment the current calendar year. The established yield ratio is posted on the official site of the Ministry of Taxes and Tax Collection on the global computer Internet.

______________________________

* For the purposes of this Decree transactions of purchase and sale are understood as transactions on purchase and sale of tokens for the Belarusian rubles, foreign currency, electronic money made by operators on its own behalf and at own expense.

** In 2025 - within 20 calendar days from the date of entry into force of this Decree.

*** In 2025 - within 15 calendar days from the date of receipt of data from operators.