Poland Suspends Decision of Taxing Cryptocurrency Transactions

[kreslik.news]

Poland’s finance ministry published an update of the country’s tax ‎code, stating that it will not tax income from transactions on ‎cryptocurrencies.‎

The MoF justified its taxing decision by stating that it considers conducting an in-‎depth analysis to better regulate the emerging industry.‎

Under this provision, cryptocurrency traders will get tax exemptions after they were ‎required to pay two tax brackets of 18 percent and 32 percent regardless ‎of whether they made a profit.‎

More painful for digital currency traders in Poland, the ministry’s ‎guidance had previously considered the cryptocurrency transaction a ‎transfer of property rights, which triggers a 1 percent levy on ... (read more)