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Belarus reduced taxes for crypto businesses

The government of Belarus has adopted new statutes aimed at encouraging the development of companies around cryptocurrency and blockchain.

23.Dec.17 7:05 AM
By Daria Zaytseva


Belarus reduced taxes for crypto businesses

According to the state media agency BelTA, on December 22, the President of Belarus, Alexander Lukashenko, signed a decree on the development of the digital economy, which legitimately secures the use of new technologies, such as blockchain, and also offers significant tax incentives to attract business activity.

The decree, compiled by the local IT firm in favor of legislation, stimulates the development of a high-tech park of the country, a special economic zone that the government wants to become the center of technological and financial startups.

One of the components of the law provides a legal basis for companies working in the field of developing intellectual contracts, issuing markers, cryptocurrency trading and mining - all this will be exempt from income taxes for the next five years.

As reported in July, the country's central bank has already considered the possibilities for domestic banks to include blockchain within the framework of the transaction guarantee system.

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