POLISH CRYPTOCURRENCY LAW SUSPENDED AS INVESTORS RESIST DRACONIAN REGULATION

BTC Manager on 26th May reported that Polish digital currency investors have refused to abide by the PPC Law, due to its draconian nature.  Now the Polish authorities have agreed to temporarily suspend the “Civil Law Transactions Tax,” which aims to tax all crypto-related transactions regardless of profits made.  The Polish Finance Ministry plans to formulate another regulation after conducting an “in-depth analysis“ of the virtual currency industry. In April 2018, the ministry had issued a notice saying that all digital currency transactions attract an income tax of either 18% or 32%, plus an additional 1% levy tax since the government sees cryptocurrency trading as a transfer of property rights.

https://btcmanager.com/polands-cryptocurrency-tax-law-crashes-as-investors-resist-draconian-regulation/

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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