In the electronic system Rządowy Proces Legislacyjny (RPL), through which Poland are the new laws were prepared by the Ministry of Finance a bill to amend the approach to the taxation of income of natural and legal persons, received in the result of operations with cryptocurrencies. The decision of the Council of Ministers of Poland on the document expected in the third quarter of this year.
The draft law says that the virtual currency as “a digital equivalent value” can be considered as a means of payment, store, transmit in electronic form and used in electronic Commerce. The Finance Ministry proposes to divide them into “cryptocurrencies” and “centralized virtual currency”.
The authors intend to abandon the idea of levying taxes for the implementation of cryptocurrency transactions, but to levy a tax on capital gains income from sales of property, goods, and services related to cryptocurrency. In addition, under the bill, they will need to specify to annually fill in a tax return. However, the bill provides for a tax on the profit from the sale of cryptocurrency – miners who are natural persons, as well as levying tax on consideration received by a group of persons or entrepreneurs engaged in mining cryptocurrency.
Recall that in winter, national Bank of Poland has launched a website with the slogan “Beware of cryptocurrency” and statement that “Virtual currency is not money” on the home page. Later, the Finance Ministry ordered the owners of the cryptocurrency to specify the gains from trade or exchange of these assets in the tax returns and to pay income tax for transaction with them in the amount of 18-32% and 1% for the transfer of property rights, which caused dissatisfaction among the local crypto community.
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