Issue: № 10, 2024
Doi: https://doi.org/10.37634/efp.2024.10.6
Introduction. In today's world, digital assets are becoming a crucial component of the financial system. While offering new business opportunities, they also present challenges for legal regulation and tax oversight. The rapid growth of the digital asset market necessitates effective legal regulation and harmonization of tax policies on an international level. The purpose of this paper is to explore the legal aspects of taxation of digital (virtual) asset transactions in the context of their rapid development and impact on the financial system. The authors aim to identify the main challenges associated with the legal regulation of digital assets and propose recommendations for implementing effective and fair tax policies that meet both national and international requirements. Results. Taxation of digital asset transactions faces several challenges, including defining the legal status of digital assets, lack of uniform taxation standards, difficulty tracking transactions due to the anonymity of cryptocurrencies, and the volatility of assets, complicating their valuation for tax purposes. International harmonization of tax approaches is essential to prevent tax abuse and protect national economies. Ukrainian tax legislation in the field of virtual assets is in the process of actively developing a regulatory framework to ensure legal certainty, investor protection and implementation of European standards. The authors emphasize that among the long list of transactions and services with digital assets, only five are subject to taxation. Conclusion. Adopting legislative changes that regulate the taxation of digital assets is a crucial step to ensure legal certainty and stable development of this sector. A key element of success is dialogue between market participants, the government, and regulators to create a fair tax policy that addresses the interests of all stakeholders.
Keywords : digital assets, virtual assets, cryptocurrencies, taxation of operations with digital assets, harmonization of tax policy
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