1% tax of the total trade value on each crypto to crypto transaction in Poland - Cryptocurrency Reporters - A Light To Cryptocurrency World

Friday, 6 April 2018

1% tax of the total trade value on each crypto to crypto transaction in Poland


Polish Ministry of Finance has just published guidelines for taxes on crypto, three weeks before the dealine for tax report.According to them crypto is treated as commodity and you are required to pay 1% of the total value of the transaction, even on crypto to crypto just like you would paid for selling or buying an used car or yacht. But wait, there is more. For each transaction you make you are obliged to fill in a special paper form and send it to tax deparment. Imagine having a bot which makes 100 trades a day with your total capital, yup you have to pay 100% tax worth of your portfolio and fill in 100 papers.But wait, there is more. On top of that, you have to pay your normal income tax on any gains at the end of year, 18% or 32% depending on your income.Viva la revolution!Here is an official statement, use google translate if you are interested: https://ift.tt/2GDlaCt via /r/CryptoCurrency https://ift.tt/2Jo6dll Polish Ministry of Finance has just published guidelines for taxes on crypto, three weeks before the dealine for tax report.According to them crypto is treated as commodity and you are required to pay 1% of the total value of the transaction, even on crypto to crypto just like you would paid for selling or buying an used car or yacht. But wait, there is more. For each transaction you make you are obliged to fill in a special paper form and send it to tax deparment. Imagine having a bot which makes 100 trades a day with your total capital, yup you have to pay 100% tax worth of your portfolio and fill in 100 papers.But wait, there is more. On top of that, you have to pay your normal income tax on any gains at the end of year, 18% or 32% depending on your income.Viva la revolution!Here is an official statement, use google translate if you are interested: https://ift.tt/2GDlaCt

Polish Ministry of Finance has just published guidelines for taxes on crypto, three weeks before the dealine for tax report.

According to them crypto is treated as commodity and you are required to pay 1% of the total value of the transaction, even on crypto to crypto just like you would paid for selling or buying an used car or yacht. But wait, there is more. For each transaction you make you are obliged to fill in a special paper form and send it to tax deparment. Imagine having a bot which makes 100 trades a day with your total capital, yup you have to pay 100% tax worth of your portfolio and fill in 100 papers.

But wait, there is more. On top of that, you have to pay your normal income tax on any gains at the end of year, 18% or 32% depending on your income.

Viva la revolution!

Here is an official statement, use google translate if you are interested: https://www.mf.gov.pl/pl/ministerstwo-finansow/wiadomosci/aktualnosci/ministerstwo-finansow2/-/asset_publisher/M1vU/content/skutki-podatkowe-obrotu-kryptowalutami-w-pit-vat-i-pcc?redirect=https%3A%2F%2Fwww.mf.gov.pl%2Fpl%2Fministerstwo-finansow%3Fp_p_id%3D101_INSTANCE_NsX0%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26p_p_col_id%3D_118_INSTANCE_9Jwz__column-1%26p_p_col_count%3D1#p_p_id_101_INSTANCE_M1vU_

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