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Tax-PCC

Cryptocurrencies released from PCC – the relevant entry will be permanently in the act

July 25, 2019 at 9:56 AM | By Jit Sutradhar News

The need to calculate the PCC tax on transactions related to cryptocurrencies has caused great controversy over a year ago. In 2018, the Ministry of Finance – in the interpretation of the regulations published at that time – claimed that anyone who spins Bitcoins or other digital currencies must pay 1 per cent. on the transaction value in the form of the said PCC. It turns out, however, that the problem will eventually disappear for good.

The above-mentioned interpretation caused so much outrage among the crypto-currency community in Poland that even a protest under the finance ministry was organized. However, the government side approached the topic quite seriously. She quickly organized the consultations of deputy finance minister Paweł Gruza with representatives of the digital currency environment in our country. They took part in them, among others experts from the Trading Jam Session foundation.

Eventually, the problem was partially resolved as a result of the talks. The relevant amendment to the Act regulated issues regarding income tax. PCC problem remained. The Ministry published a document every six months, according to which it canceled the collection of this tribute. Now the problem is to disappear once and for all.

New law and PCC

“Whoever buys or exchanges virtual currency will not pay tax on civil law transactions also after 2020. Exemption from the tax will be saved directly in the Act on PCC”

– informs Gazeta Prawna.

The assumptions of the project, which will introduce the necessary changes, have been entered into the government list of legislative works under the heading UD565. The document is to be finally published at the end of September this year, and all changes will come into force quite soon, by the end of 2019.

Officials must hurry for a simple reason. Currently, cryptocurrency trading is free of PCC only until the end of this year. This results from the regulation of the Minister of Finance of 24 June 2019 (Journal of Laws of 2019, item 1184).

A hard nut to crack

The subject was supposed to be closed long ago. Originally, the abovementioned PCC suspension was to apply from July 13, 2018 to the end of June 2019. During this period, the Ministry of Finance was to complete all work on the Act. Eventually, the process took longer and the abolition of the tax was extended. Everything indicates, however, that eventually crypto-currency will be released from PCC in Poland.

This article is translated by Google Translate from bitcoin.pl

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