Polish traders have made a revision of the bill on cryptocurrency

Monday- 04.16.18

Almost 3 000 local traders signed a petition against the introduction of taxes on transactions with digital money. The Government planned to impose a fee for all transactions-regardless of whether they brought profit or loss
Polish traders protest after the decision of local authorities on taxation of all cryptocurrency operations, Bloomberg reports. Users have created a petition for Change.org, it has already signed more than 2 700 people. The Ministry of Finance on the official website reported that it had begun to develop "more convenient" rules, adding that it still maintained its position.

Last week, the government issued a document stating that the revenue generated by digital money transactions would be taxed at 18% and 32%. The authorities have recognized the purchase or sale of cryptocurrency transfer of property rights, which means that the state will charge 1% of any transaction.

This caused widespread discontent of users, and in this connection they created a petition, which indicated that the government is destroying kriptosoobshhestvo and hampering the growth of the industry in the country. Traders added that the capital invested in cryptocurrency can be taxed "hundreds or even thousands of times".

"We demand the release of the blockchain technology market and the cancellation of all taxes associated with the industry. We want to be active creators of this technology, not passive recipients of what will be prepared for us by the centralized agencies of Poland or foreign structures in the coming years, "the petition reads.

Mikhail Klementjevs, a partner of the tax and legal consulting Department of KPMG in Russia and CIS, believes that taxation is one of the main factors for investors in cryptocurrency. According to the expert, the introduction of such a system of taxes can negatively affect the development of the market.

"Increased taxation, in particular in the form of VAT in the case of cryptocurrency turnover or limitation of the offset of losses against the proceeds of individual transactions with cryptocurrencies, is capable of significantly increasing transaction costs for settlements with Use of cryptocurrency and, accordingly, to prevent their spreading ",-the expert noted.

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