Belarus Extends The Tax Exemption For Cryptocurrency Enterprises Until 2025

Belarus has stated that it would continue to provide crypto firms with a tax exemption until the year 2025. The tax exemption for miners and token creators in Belarus has been extended until 2025, allowing the country to continue to attract cryptocurrency enterprises. A directive exempting miners and operators of cryptocurrency businesses from paying value-added tax, income tax, and income tax was reportedly signed by Belarusian President Aleksandr Lukashenko this week. Previously, the law of this nation stated that crypto firms and the people working for them are exempt from paying taxes until the year 2023 has passed. The Belarusian government began providing assistance to crypto enterprises for the first time in 2017, the year in which they initially began providing assistance to crypto companies. developed an exclusive neighborhood in Minsk known as the Hi-Tech Park. The extension of the tax exemption for cryptocurrency enterprises until 2025 is a positive development for both the cryptocurrency industry and the Belarusian economy. It demonstrates the government’s commitment to supporting and promoting the industry.