Calculating Profits from Tokens in 2025: A Comprehensive Guide to Taxing Cryptocurrency Income
In a fresh twist to the world of digital finance, Belarus has put forth detailed tax guidelines for earnings derived from cryptocurrency transactions, highlighted in Decree No. 166 of April 23, 2025. Let's break it down, shall we?
Starting from the year at hand, income arising from cryptocurrency operations will be taxable. This taxable income encompasses proceeds from acquisition (mining, receipt), placement, disposal (transfer), exchanging tokens for other tokens, selling for Belarusian rubles, foreign currency, or electronic money.
However, income accrued from specific transactions, such as those conducted by residents of the High-Tech Park (HTP) and transactions through HTP residents, mining activities, swapping tokens for other tokens (except for income gained from illegal activities), inheritance, and gifts up to a certain limit, are exempt from tax.
Moreover, Decree No. 367 of September 17, 2024, permits legal transactions involving tokens if carried out through authorized operators, including cryptocurrency exchanges and HTP residents engaged in relevant activities.
To make this even more interesting, a coefficient of profitability will be established, effective from March 1 of the current year, to determine the tax base for income tax on illegal or prohibited cryptocurrency operations. The Secretariat will determine this coefficient, considering the average daily and annual yield for each type of token.
Local Councils, when evaluating tax exemptions on personal income tax resulting from illegal and prohibited cryptocurrency activities, may consider this established tax base order.
As for the type of transactions that are subject to this regulation, these are purchases and sales of tokens for Belarusian rubles, foreign currency, or electronic money, transacted by operators on their own account.
For your convenience, the yield coefficient, once established, will be published on the official website of the MNS (Ministry of Antimonopoly Regulation and Trade).
Lastly, Belarus, known for its friendly posture towards cryptocurrency, could witness further innovations with plans to introduce a Central Bank Digital Currency (CBDC) by 2026, which might shape future regulatory frameworks. So, keep your eyes peeled!
As a journalist, I've tracked Belarus's crypto scene, and I can tell you that the High Technologies Park has been a haven for favorable tax rates for cryptocurrency residents, offering as low as a 9% corporate tax rate[4]. Until mid-2025, personal investments in crypto in Belarus were tax-free, considered personal investments[1][5]. For more accurate and up-to-date information, I recommend consulting official Belarusian government sources or legal advisories with recent legislative documents.
- The income derived from cryptocurrency operations in Belarus, starting from 2025, will be taxable, including proceeds from mining, receiving, disposing, exchanging tokens, selling for Belarusian rubles, foreign currency, or electronic money.
- Income acquired by residents of the High-Tech Park (HTP), transactions through HTP residents, mining activities, swapping tokens (except for income gained from illegal activities), inheritance, and gifts up to a certain limit are exempt from tax.
- Decree No. 367 of September 2024 allows legal transactions involving tokens if carried out through authorized operators, like cryptocurrency exchanges and HTP residents engaged in relevant activities.
- A coefficient of profitability will be established to determine the tax base for income tax on illegal or prohibited cryptocurrency operations, considering the average daily and annual yield for each type of token, and the resulting tax base order may be evaluated by Local Councils when determining personal income tax exemptions on illegal and prohibited activities.
