Cabinet-Approved Personal Income Tax Measures for Investment Tokens

On March 12, 2024, the Cabinet made significant strides in fiscal policy by endorsing tax measures designed to stimulate fundraising activities utilizing digital tokens for investment purposes, termed Investment Tokens. This legal article provides a comprehensive examination of the ratified tax measures, elucidating their ramifications and objectives within the framework of nurturing the digital economy in consonance with governmental directives.

Empowering the Future: Cabinet Extends Tax Relief Measures for Digital Assets Trading

In a notable development on February 6, 2024, the Cabinet announced its resolution to extend tax relief measures for digital asset trading, providing a lifeline for individuals and juristic entities involved in the realm of cryptocurrencies (“Cryptos”) and utility tokens. The Value Added Tax (VAT) exemption for transfers of Cryptos and utility tokens has been extended from December 2023 to January 1, 2024, onwards.