Belarus Ministry of Finance proposed to allow investment funds to buy digital assets

The proposals will be discussed until February 11

04.02.2022 - 08:00

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What’s new? The Ministry of Finance of Belarus has drafted amendments to the legislation that will, among other things, enable funds to invest in digital assets. , according to the ministry’s website.

Link to the Ministry of Finance of Belarus website

What did the Belarusian Ministry of Finance propose? The document states that the grace period, within which the profits of funds investing in digital assets are subject to a reduced tax, can be extended until early 2031.

The agency also considers it necessary that professional securities market participants have the right to become residents of the Hi-Tech Park (HTP).

How did the Ministry of Finance explain the need for the proposals? The initiatives are due to the virtual absence of investment funds in Belarus, despite the existing regulatory framework, the agency noted.

“In this regard, a draft of provisions has been prepared, which, if approved by the professional community, may be implemented in the tax legislation,” the Ministry of Finance statement says.

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