Re: The Polish government and MF has just destroyed the cryptocurrencies in Poland.
There's however one exception. Transactions below 50 PLN are not a subject of taxation. As PCC is being rounded to wholes. All above 50 PLN however are taxable.
Can you point out where this exception is specified? Is there any mention of structuring regarding the 50 PLN threshold? That amounts to ~$15. Does that mean you can trade in high volume lots of that size without triggering liability?
It was found later and is not mentioned in article - https://twitter.com/krzysztof_piech/status/983388470705033217
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tax bases are rounded to full Zlotys (PLN 0-49 are rounded down, and PLN 50-99 - up)
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Wait what? You still have to pay taxes even if you didn't profit? Isn't that the point of taxation? I still find that hard to believe, but as I don't know Polish, I'll take your word for it. I'm glad I don't live in Poland.
I've always considered taxation to be fair if crypto played by the same rules as everything else (except some minor differences in filing), but specific rules for crypto is just bad news. If this were truly the case, then people were right in saying that they might as well have banned it.
I've always considered taxation to be fair if crypto played by the same rules as everything else (except some minor differences in filing), but specific rules for crypto is just bad news. If this were truly the case, then people were right in saying that they might as well have banned it.
Yup, that's the funniest and scariest thing of PCC tax.
Btw, there is no intention from my and others side to distribute false information.
This article was originally published on biggest Polish bitcoin website - bitcoin.pl, I've only translated it.
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I'm going to post this image once again
https://i.imgur.com/PkbC6PE.png
the tax obligation ends on April 30. This message was published on 9th of April. Comedy.