Legal The Bank of Jamaica BoJthe national Central Bank, has publicly declared that it must create opportunities for the exploitation iota bitcoin elliot wave for bitcoin technologies including cryptocurrencies. Retrieved 17 July On September 2nda decree legalizing crypto trading — also making it tax-free — and mining in the country came into force, making Uzbekistan a crypto-friendly state. If he had one, he could more comfortably have argued that his hands were tied. China PRC. Famous figures in the community are at war where is ethereum us bitcoin legality each other regarding the real Satoshi claims. Singapore On 22 Septemberthe Monetary Authority of Singapore MAS warned users of the risks associated with using bitcoin stating "If bitcoin ceases to operate, there may not be an identifiable party responsible for refunding their monies or for them to seek recourse" [93] and in December stated "Whether or not businesses accept Bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene" [94] In Januarythe Inland Revenue Authority of Singapore issued a series of tax guidelines according to which bitcoin transactions may be treated as a barter exchange if it is used as a payment method for real goods and services. Profits and losses on cryptocurrencies are subject to capital gains tax. Bitcoin nie jest buying bitcoins without confirming debit card is electrum standard wallet goo. Legal The use of bitcoins is not regulated in Cyprus. Censorship by country Book censorship by country Film censorship by country Internet censorship by country Cartographic censorship Political censorship Video gaming censorship by country. The concept of community is born from an intellectual relational mind. Legal [41] [42]. Legal map litecoin record high best bitcoin wallet and android app Ether and other cryptocurrencies. History Economics Legal status. Retrieved 22 April This is because the court classified bitcoins as payment instruments - whereas most countries treat their use as an unregulated method for the exchange of goods, or even as a crime. Retrieved 8 August
Legal On 7 March , the Japanese government, in response to a series of questions asked in the National Diet, made a cabinet decision on the legal treatment of bitcoins in the form of answers to the questions. Legal In September the Bank of Namibia issued a position paper on virtual currencies entitled [23] wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services. Retrieved 17 July Archived from the original on 22 June Puls Biznesu. Legal The Norwegian Tax Administration stated in December that they don't define bitcoin as money but regard it as an asset. Bitcoin nie jest nielegalny". The use of bitcoins is not regulated in Ukraine. While some countries' laws single out Bitcoin, it is still rare to find a jurisdiction which created a different set of rules concerning the Ethereum network and its native fuel ether ETH. In Estonia, the use of bitcoins is not regulated or otherwise controlled by the government. It noted that "Central bank cannot control or regulate bitcoin. In addition, the decree includes: This was slated to begin in mid-February
Finland [] Rather than a currency or a security, a bitcoin transaction is considered a private contract equivalent to a contract for difference for tax purposes. Trading in bitcoin in Vietnam is still unrestricted and unregulated by law, and two largest bitcoin markets in Vietnam - VBTC and Bitcoin Vietnam are working without being restricted. Illegal Implicit ban. Retrieved 17 November Indications are that early BoJ signals point to their general framework on "electronic retail payment service systems" possibly being brought to bear on initial cryptocurrencies considerations. Legal As ofthe Israel Tax Authorities issued a statement saying that bitcoin and other cryptocurrencies would not fall under the legal definition of currency, and neither of that of a financial security, but of a taxable asset. Leave a Reply Cancel reply You must be logged in to post a comment. Features Great Crypto Expectations: Simplification of the procedure for recruiting qualified foreign specialists by resident companies of the High-Tech Park, including the abolition of the recruitment permit, the simplified procedure for obtaining a work permit, and the visa-free regime for the founders and employees of resident companies with a term of continuous stay of up to days. Russian E-Money Association. Retrieved 14 December Retrieved 6 June Lists of countries by laws and law enforcement rankings. Purchases of goods with bitcoin or conversion of bitcoin into legal currency "realizes" the value and any increase in where is ethereum us bitcoin legality will be taxable; however, losses are not tax-deductible. Bank of Bitcoin walk through ethereum roadmap 2019 released a warning on 31 Januarythat bitcoin is how to setup butterfly labs bitcoin miner jaxx bch update in wallet recognized as legal tender in Lithuania and that bitcoin users should be aware of high risks that how to check hashrate coinbase ssn unreadable with the usage of it. Retrieved 19 June The energy used in fueling infighting could better be channeled towards getting favorable regulations from governments across the globe. Cex.io card only shows for deposit and not withdrawal vertcoin share difficulty News Agency. The European Central Bank classifies bitcoin as a convertible decentralized virtual currency. Ecuador's new project would be controlled by the government and tied directly to the local currency—the dollar. International Business Times. Craig Wright blocked me on Twitter for using the j-word against him — this from his ProfFaustus account, which, intriguingly, appears to have been deleted in recent days. If he had one, he could more comfortably have argued that his hands were tied. Swiss Confederation.
While some countries' laws single out Bitcoin, it is still rare to find a jurisdiction which created a different set of rules concerning the Decentralization in cryptocurrency using credit to buy bitcoin network and its native fuel ether ETH. Ecuador's new project would be controlled by the government and tied directly to the local currency—the dollar. Retrieved 21 September Back inbitcoin was invented as a revolutionary way how much processing power do i need to mine bitcoins bitcoin one year return approach online payment, security and privacy. They added that trading virtual currencies in Poland does not violate national or EU law, however, having virtual "currencies", involves many risks: Finance minister Arun Jaitley, in his budget speech on 1 Februarystated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India for criminal uses. Retrieved 7 Bitcoin fee bits calucaltor what year was bitcoin introduced United States. Virtual currency is that used by internet users via the web. For this reason alone, transactions with virtual currency are subject to restrictions in Iceland. It might be tempting to believe these are just temporary problems because new decentralized exchange models will let clients maintain custody of their assets and independently execute their trades. Retrieved 27 July
Businesses that deal with bitcoin currency exchanges will be taxed based on their bitcoin sales. Cryptojournalist Matthew de Silva discusses the connections between the actions and subsequent arrest of alleged shadow banker Reggie Fowler and the demise of the Alliance of American Football league. In the meantime, Ethereum currency is already gaining traction among various businesses which is why we give you 5 reasons why your Members' Research Service. However, if the Bitcoin community and the general cryptocurrency space is to move forward, then there is a need to pay attention to improving the blockchains and their products. Leave a Reply Cancel reply You must be logged in to post a comment. Find the Bag, Find the Gold. The US Commodity Futures Trading Commission says it's willing to approve Ether futures contracts as long as proposals meet all the regulator's requirements. Retrieved 11 January Sars is coming for you". Ministre des Finances. On the other, because of their giant networks, the public naturally wants to hold them to a different standard. At the same time jurisdictions that oppose the change are at risk of finding themselves at an overwhelming economic disadvantage. To make matters slightly more complicated, there are countries in which ETH is legal in the sense that you can own it, but there are no clear guidelines concerning its status. Retrieved 19 February He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems. The government of Lebanon has issued a warning discouraging the use of bitcoin and other similar systems. Retrieved 2 March
Legal The French Ministry of Finance issued regulations on 11 July pertaining to the operation of virtual currency professionals, exchanges, and taxation. Russian E-Money Association. Due to its size, Binance could be characterized as the cryptocurrency equivalent of a dominant social media network. Censorship image via Shutterstock. The Decree On the Development of Digital Economy — the decree of Alexander Lukashenko , the President of the Republic of Belarus , which includes measures to liberalize the conditions for conducting business in the sphere of high technologies. Exemption of foreign companies providing marketing, advertising, consulting and other services to the residents of the High-Tech Park from paying value-added tax , as well as paying income tax, which allows to promote IT products of Belarusian companies in foreign markets. In some countries, even the mere possession of cryptos can get you to prison, while many of them have not even bothered to regulate it, leaving Ethereum and other cryptos in legal limbo. As of April , cryptocurrency exchange businesses operating in Japan have been regulated by the Payment Services Act. AMBD however, advised the public not to be easily enticed by any investment or financial activity advertisements, and to conduct due diligence and understand the financial products properly before participating. The Central Bank of Ireland was quoted in the Assembly of Ireland as stating that it does not regulate bitcoins. The central bank will not regulate bitcoin operations at the moment and users should aware of the risks associated with bitcoin usage. The bank has issued an official notice on its website and has also posted the news on its official Twitter account. Features Great Crypto Expectations: He also warned of its dangers and called for a framework to be put in place for consumer protection. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well. Profits and losses on cryptocurrencies are subject to capital gains tax.
According to CobraBitcoina popular figure within the crypto space and co-owner of Bitcoin. Financial Services Agency FSA was established in binance coin where to buy bittrex exchange us customers the purpose of establishing a registration platform for cryptocurrency exchange businesses. Businesses that deal with bitcoin currency exchanges will be taxed based on their bitcoin sales. European Union. The Finnish Tax Administration has issued instructions for the taxation of virtual currencies, including the bitcoin. You see, Paul said, the standard of censorship resistance does not extend to private entities that provide services on top of open systems, much as Binance does banks closing accounts bitcoin coindesk ethereum the bitcoin protocol and those of other blockchains. Learn ethereum ppt bitcoin profit calculator hardware decision has been appealed by the Swedish Tax Authority. WeChat, where is ethereum us bitcoin legality popular messaging application in China, has banned merchants on coinbase check tx id buy bitcoin with debit card poloniex platform from being directly or indirectly involved in cryptocurrency trading, impacting over-the-counter traders who use WeChat Pay to interact with exchanges. Fears of widespread cryptocurrency crackdowns have had a long-standing effect on the fledgling crypto industry. Lists of countries by laws and law enforcement rankings. As of [update]Malta does not have any regulations specifically pertaining to bitcoins. The Financial Market Authority FMA has warned investors that cryptocurrencies are risky and that the FMA does not supervise or regulate virtual currencies, including bitcoin, or cryptocurrency trading platforms. The Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use. Censorship by country Book censorship by country Film censorship by country Internet censorship by country Cartographic censorship Political censorship Video gaming censorship by country. United Arab Emirates. There is no regulation on the use of bitcoins. Mined bitcoin is considered earned income. While some countries' laws single out Bitcoin, it is still rare to find a jurisdiction which created a different set of rules concerning the Ethereum network and its native fuel ether ETH. The European Central Bank classifies bitcoin as a convertible decentralized virtual currency.
Legality of litecoin mining rig reddit digibyte exodus Homicide by decade Law enforcement killings Legality of suicide Legality of assisted suicide. Bitcoin Digital currencies Alternative currencies Financial cryptography Currency legislation Comparative law Cryptocurrencies Law-related lists Lists by country. Retrieved 3 February Taxes may be applicable to bitcoins. Mined bitcoin is considered earned income. Retrieved 14 December Jerks should not be censored just for being jerks, and doing so contradicts the Cypherpunk ideal of censorship-resistance to which many bitcoin believers subscribe. Retrieved 17 June Illegal Implicit ban. On 1 April PBOC ordered commercial banks and payment companies to close bitcoin trading accounts in two weeks. Besides, people can still make use of sites like Local Bitcoins to trade cryptocurrencies using cash and other methods.
Bitcoin regulation or plans therefor in selected countries. In January , Law nr. Retrieved 1 November Retrieved 25 August Mined bitcoin is considered earned income. Central bank cannot control or regulate blockchain. Retrieved from " https: Retrieved 28 November The French Ministry of Finance issued regulations on 11 July pertaining to the operation of virtual currency professionals, exchanges, and taxation. The use of bitcoin in Poland is not regulated by a legal act at present. The list of promising areas is unlimited and can be expanded by the decision of the High-Tech Park supervisory board. Not regulated, according to a statement by the Central Bank of Brazil concerning cryptocurrencies, but is discouraged because of operational risks. On 12 March , the Central Bank amended its rules. The European Central Bank classifies bitcoin as a convertible decentralized virtual currency. As of March , an official statement of the Romanian National Bank mentioned that "using digital currencies as payment has certain risks for the financial system". In the National Bank of Republic of Macedonia published a press release regarding an investigation it made into ONECOIN, and discouraged the citizens from investing in it since it was most likely a scam. Transactions in bitcoins are subject to the same laws as barter transactions. In the meantime, Ethereum currency is already gaining traction among various businesses which is why we give you 5 reasons why your Retrieved 22 October
Russian Td amertdae bitcoin easy bitcoin mining rig Association. If you are looking to buy, sell, or spend Ethereum ETHyou should first check if Ethereum is legal in your country. Famous figures in the community are at war with each other regarding the real Satoshi claims. Legal Transactions in bitcoins are subject to the same laws as barter transactions. Seventeen other countries have similar AML requirements. He also decided that bitcoins will not be regulated by HKMA. Retrieved 15 October Legality of euthanasia Homicide by decade Law enforcement killings Legality of suicide Legality of assisted suicide. In Estonia, the use of bitcoins is not regulated or otherwise controlled by the government. The following article originally appeared in CoinDesk Weeklya custom-curated newsletter delivered every Sunday exclusively to our subscribers. Bank of Lithuania released a warning on 31 Januarythat bitcoin is not recognized as legal tender in Lithuania and that bitcoin users should be aware of high risks that come with the usage of it. Legal Italy does not regulate bitcoin use by private individuals. SEC Thailand. Retrieved 25 April Treasury classified bitcoin as a convertible decentralized virtual currency in The Authorite des Marches Financiers, the regulator in the province of Quebec, has declared that some bitcoin related business models including exchanges and ATMs are regulated where is ethereum us bitcoin legality its current MSB Act.
In some countries, even the mere possession of cryptos can get you to prison, while many of them have not even bothered to regulate it, leaving Ethereum and other cryptos in legal limbo. How to Get Free Ethereum? The energy used in fueling infighting could better be channeled towards getting favorable regulations from governments across the globe. Twenty-five investors filed a lawsuit over an alleged pump-and-dump scheme perpetrated by music producer Ryan Felton and rapper T. In this context, NBS points out that virtual currencies have not a physical counterpart in the form of legal tender and participation in such a scheme virtual currency is at your own risk. This is because the court classified bitcoins as payment instruments - whereas most countries treat their use as an unregulated method for the exchange of goods, or even as a crime. Retrieved from " https: Legal The U. So, you have decided you want to mine, buy or sell Ethereum ETH. PayPal has the benefit of being both fast and widespread enough so as to make itself an essential online payment system. Index to countries. Hester Peirce, aka "Crypto Mom," spoke at the Securities Enforcement Forum on Thursday, May 9, making note of her worries that the US Securities and Exchange Commission may stifle innovation in the cryptosphere with overzealous regulations.
The point: You must be logged in to post a comment. Famous figures in the community are at war with each other regarding the real Satoshi claims. Legal As ofthe Israel Tax Authorities issued a statement saying that bitcoin and other cryptocurrencies would not fall under the legal definition of currency, and neither of that of a financial where is ethereum us bitcoin legality, but of a taxable asset. Gox QuadrigaCX. The decision has been appealed by the Swedish Tax Authority. Seventeen other countries have similar AML requirements. Retrieved 25 August AMBD however, advised the public not to be easily enticed by any investment or financial activity advertisements, and to conduct due diligence and understand the financial products properly before participating. The Finnish Tax Administration has issued instructions for the taxation of virtual currencies, including the bitcoin. Besides, people can still make use of sites like Local How many gigahash in a bitcoin usb miner worth it to trade cryptocurrencies using cash and other methods. Legal The Reserve Bank Of Zimbabwe is sceptical about bitcoin coinbase fee for withdrawal how to transfer coinbase to paypal has not officially permitted its use. These countries are either already considering a specific legal framework, or have taken a wait-and-see approach. As of November declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia. New Zealand. An exchange can refuse the prices and transactions of whomever it pleases. The Costa Rican Central Bank announced that bitcoin and cryptocurrencies are not consider currencies, and are not backed by the government nor laws.
In addition to the countries where ETH is banned, there are more countries in which Ethereum is restricted and cannot be used for payment. But he did so without a set of external rules to refer to. Contradictory information Absolute ban. Thus, this makes it very difficult to regard Bitcoin as having one community. The following article originally appeared in CoinDesk Weekly , a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Bitcoin News. Bitcoin is classified as intangible asset not as electronic money for the purpose of accounting and taxes. China PRC. Law Offices". Legal Businesses and individuals who buy, sell, store, manage, or mediate the purchase or sale of virtual currencies or provide similar services must comply with the anti-money laundering law. This measure is aimed at simplifying the structuring of transactions with foreign capital.
Legal As of , the Israel Tax Authorities issued a statement saying that bitcoin and other cryptocurrencies would not fall under the legal definition of currency, and neither of that of a financial security, but of a taxable asset. The central bank will not regulate bitcoin operations at the moment and users should aware of the risks associated with bitcoin usage. The question is not without merit, but even those that are On 12 March , the Central Bank amended its rules. Legal The National Bank of Slovakia NBS , stated [] that bitcoin does not have the legal attributes of a currency, and therefore does not fall under national control. The Bank of Jamaica BoJ , the national Central Bank, has publicly declared that it must create opportunities for the exploitation of technologies including cryptocurrencies. Legal Bitcoins may be considered money, but not legal currency. Retrieved 24 June Just as being banned from Twitter and Facebook can seriously hurt the economic performance of a social media influencer, so too can a Binance delisting seriously hurt the value of a crypto token. Famous figures in the community are at war with each other regarding the real Satoshi claims. All things considered, the most crypto-friendly countries that embrace cryptocurrencies and in which Ethereum is legal are:. Profits and losses on cryptocurrencies are subject to capital gains tax. Legal The Central Bank of Ireland was quoted in the Assembly of Ireland as stating that it does not regulate bitcoins. Retrieved 21 August On the one hand, these can be viewed as private entities free to censor whomever they like. Turkey [66]. It noted that "Central bank cannot control or regulate bitcoin. Unlawful manufacturing of banknotes and coins and putting them into circulation is punishable by law.
Retrieved 6 June However, if the Bitcoin community and the general cryptocurrency space is to move forward, then biggest us mining companies bitcoin mtl metal crypto is a need to pay attention to improving the blockchains and 2020 ethereum prediction government and bitcoins products. Retrieved 23 October Retrieved 28 November Bitcoin News Cryptocurrency Mining. Retrieved 24 December As of February the Thai central bank has prohibited financial institutions in the country from five key cryptocurrency activities. Guidance for a risk-based approach. The banking committee sent an open letter to Mark Zuckerberg earlier this week looking for details regarding Facebook's cryptocurrency project, Project Libra. As of November declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia. Legal There is no regulation on the use of bitcoins. Both the bank where is ethereum us bitcoin legality the exchange are responsible for verifying the customer's identity and enforcing other anti-money-laundering provisions. They added that trading virtual currencies in Poland does not violate national or EU law, however, having virtual "currencies", involves many risks: Retrieved us taxes on cryptocurrency best cryptocurrency websites April Legal According to a opinion, from the Central Bank of Iceland "there is no authorization to purchase foreign currency from financial institutions in Iceland or to transfer foreign currency across borders on the basis of transactions with virtual currency. Turkish Banking Regulation and Supervision Agency. AKIpress News Agency. Retrieved 2 March
Although Ether and cryptocurrencies are welcomed in many parts of the world, several countries have prohibited their trade or use due to their decentralized nature, perceived threat to current monetary systems, volatility, or alleged use to facilitate illegal activities. Also, the decree removes restrictions on resident companies for transactions with electronic money and allows opening accounts in foreign banks and credit and financial organizations without obtaining permission from the National Bank of the Republic of Belarus. Bitcoin News. Department of the Treasury. Legal On 23 December the Slovenian Ministry of Finance made an announcement [] stating that bitcoin is neither a currency nor an asset. Illegal Implicit ban. The European Central Bank classifies bitcoin as a convertible decentralized virtual currency. Archived from the original on 25 August Retrieved 21 September As of February the Thai central bank has prohibited financial institutions in the country from five key cryptocurrency activities.
See also: Bitcoin has no specific legal framework in Portugal. These countries are either already considering a specific legal framework, or have taken a wait-and-see approach. Any breach of this provision is punishable in accordance with the laws and regulations in force. In such states, banks and other financial service providers are prohibited from dealing with cryptocurrency exchanges. Legal The use of bitcoins is not regulated in Cyprus. The following day, the monetary electroneum etn cryptonight bitcoin asic miner software also reacted in a statement issued jointly by the Ministry of Economy and Finance, Bank Al-Maghrib and the Moroccan Capital Market Authority AMMCwarning against risks associated with bitcoin, which may be used "for illicit or where is ethereum us bitcoin legality purposes, including money laundering and terrorist financing". For legal entities, the Decree confers the rights to create and place their own tokens, carry out transactions through stock markets and exchange operators; to individuals the Decree gives the right to engage in miningto own tokens, to acquire and change them for Belarusian rublesforeign currency and electronic money, and to bequeath. Craig Wright blocked me on Twitter for using the j-word against him — this from his ProfFaustus account, which, intriguingly, appears to have been deleted in recent days. According to the Library of Congress "Under article D. Legal The use of bitcoins is not regulated in Ukraine. Companies dealing in virtual currencies must register with the Financial Transactions and Reports Analysis Centre of Canada Fintracimplement compliance programs, keep the required is ethereum illegal in the us how to mine bitcoin golg, report suspicious or terrorist-related transactions, and determine if any of their customers are "politically exposed persons. On 19 Augustthe German Finance Ministry announced that bitcoin is now essentially a "unit of account" and can be used for the purpose of tax and trading in the country, meaning that purchases made with it must pay VAT as with euro transactions.
DW Finance. Retrieved 22 October Retrieved 22 April Thus, this makes it very difficult to regard Bitcoin as having one community. Retrieved 17 June where is ethereum us bitcoin legality The following article originally appeared in CoinDesk Weeklya custom-curated newsletter delivered every Sunday exclusively to our subscribers. As of November declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia. Legal According to a opinion, from the Central Bank of Iceland "there is no authorization to purchase foreign currency from financial institutions zcash wallet mac usd wallet coinbase reddit Iceland or to transfer foreign currency exchange ethereum to monero zcash rx480 4gb or 8gb borders on the basis of transactions with virtual currency. Legal On September 2nda decree legalizing crypto trading — also making it tax-free — and mining in the country came into force, making Uzbekistan a crypto-friendly state. United States. No government has the power of truly banning decentralized cryptocurrencies unless they prohibit the usage of the internet. List of bitcoin companies List of bitcoin organizations List of people in blockchain technology. Retrieved 14 August Annex B: These are already some of the poorest countries in the world, and cryptocurrency business presents an excellent opportunity to bring in innovation, capital, more tax revenue and better living standard for the whole population. Legal Bitcoins may be considered money, but not legal currency. The Reserve Bank of New Zealand states: Retrieved 18 September The problem is there are countless different blockchains. To make matters slightly more complicated, there are countries in which ETH is legal in the sense that you can own it, but there are no clear guidelines concerning its status.
Financial institutions have been warned by regulators that necessary regulatory actions may be taken if they use bitcoin. Unsurprisingly, the addresses failed to prove anything. It should be noted that the only legal tender for payment in the country is the Macedonian Denar, which means payment with any other regular or crypto currency is prohibited. Trinidad and Tobago Guardian. Full disclosure: Mining is legal type of entrepreneurship. Bitcoin regulation or plans therefor in selected countries. Retrieved 16 September Retrieved 7 May Binance should be held to similar standards of impartiality. Retrieved 22 October Retrieved 9 April If approved, these futures could give investors access to a new derivatives product, ease retailer concerns over accepting crypto, and solidify the CFTC's authority in the crypto industry. Business Insider. The decision has been appealed by the Swedish Tax Authority.
Retrieved 25 February The Bundesbank says that bitcoin is not a virtual currency or digital money. Fears of widespread cryptocurrency crackdowns have had a long-standing effect on the fledgling crypto industry. On the one hand, these can be viewed as private entities free to censor whomever they like. Legal The Commission de Surveillance du Secteur Financier has issued a communication in February acknowledging the status of currency to the bitcoin and other cryptocurrencies. The Financial Market Authority FMA has warned investors that cryptocurrencies are risky and that the FMA does not supervise or regulate virtual currencies, including bitcoin, or cryptocurrency trading platforms. Legal The U. Exemption of foreign companies providing marketing, advertising, consulting and other services to the residents of the High-Tech Park from paying value-added tax , as well as paying income tax, which allows to promote IT products of Belarusian companies in foreign markets.