Overview

• Domestic crypto sellers will see their transaction tax rise to 0.21% on August 1, up from 0.1%, while trades on foreign exchanges face a new 1% levy.
• Crypto buyers will no longer pay VAT on purchases, ending previous charges of 0.11–0.22%.
• VAT on mining activities will increase to 2.2% and the special 0.1% mining income tax will be phased out in favor of standard personal or corporate rates by 2026.
• The regulation recasts cryptocurrencies as financial instruments under the Financial Services Authority’s oversight to strengthen tax enforcement.
• Exchanges and advisory firms are seeking at least a one-month grace period and fiscal incentives to help the industry adapt and comply.