The Polish Finance Ministry is going to publish a new regulation to “temporarily abandon” the tax on transactions with digital currency. It also intends to provide “in-depth analysis” and develop “system solutions” to regulate this particular economic space. This step arrives after an interpretation of the tax code in April caused angry reactions from the country’s crypto community, an online petition, and even protests in Warsaw.
The Ministry of Finance has accepted the irrational effect of the PCC tax on cryptocurrencies. So far, the Ministry hasn’t done anything about the PCC, except for recognizing cryptocurrencies as property rights, which automatically means obligation to pay the civil law transactions tax.
Deputy Finance Minister, Poland
Gruza meant a controversial decision to tax crypto earnings and profits, that was declared less than a month before the end of the tax campaign in Poland on April 30. In an official position published last month, Ministerstwo Finansów claimed that Polish residents should report on their tax returns all revenues from trade and exchange for cryptocurrencies like bitcoin, litecoin and ethereum.
After this realization, plans to tax crypto transactions have been ceased. The new regulation on the matter is anticipated by June 15.