The Polish authorities realized how unacceptable their decision to introduce a tax on all cryptocurrency transactions was. Polish Deputy Finance Minister Pavel Gruza said in an interview with Business Insider that the ministry "recognizes the irrationality" of the tax that was levied on citizens for the purchase and sale of cryptocurrencies, regardless of the profit received.
The government will not adhere to the introduced law until proper regulation of the cryptocurrency sector is developed.
The Ministry of Finance will issue a decree to “temporarily cancel” the tax on cryptocurrency transactions, and a “systemic solution” will be developed to regulate this particular economic space.
This decision is associated with a massive protest by the country's cryptocurrency community and an online petition to repeal the law, which accused the government of limiting access to the growing cryptocurrency market, as well as the fact that the tax regime was adopted without prior consultation and without taking into account the interests of the affected party, that is, citizens.
Although the tax on cryptocurrency transactions is only 1%, given that it does not depend on profits, traders can spend all their funds on paying taxes.
The Ministry has decided to suspend the cryptocurrency transaction tax law until a solution is developed, which will happen in at least two years. A new ruling on this issue is expected before June 15. Deputy Minister Gruz also said that citizens who have already paid the tax will not receive a refund. “We are working to solve this problem. A working group was created to develop “simple and transparent tax rules” in relation to cryptocurrencies, the official assured.
Additionally, Polish citizens accuse the government of wasting taxpayers' money on campaigns against decentralized digital currencies, including a campaign to "raise awareness" about the risks of investing in digital currencies, and anti-cryptocurrency videos on Youtube. which were financed by the Central Bank.
According to https://news.bitcoin.com
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