Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: cryptoc on September 03, 2018, 08:46:08 AM

Title: What do you think of Poland new bill on Clarifying Crypto Taxation?
Post by: cryptoc on September 03, 2018, 08:46:08 AM

The previous cryptocurrency taxation policy met with ringing rejection from the cryptocurrency community. Thus, legislators went back to reconstitute the present program, thence the new bill. The Polish Council of Ministers can meet to review it come back the third quarter of 2018. The new bill aims at creating taxation laws additional relatable and simplified for the everyday crypto merchant in the Republic of Poland.

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Title: Re: What do you think of Poland new bill on Clarifying Crypto Taxation?
Post by: brecalynch on September 03, 2018, 09:02:44 AM

The new bill classifies cryptocurrency (relating to the Act on Counteracting concealing an act of terrorism Financing) as a digital variant of cash. In detail, here, virtual currencies area unit stratified into two categories: centralized virtual currency and cryptocurrency. Such virtual currencies have the legal impetus to interact payment, acting as a legitimate medium of exchange likewise as in e-commerce, This new bill, crypto-to-crypto transactions are going to be free from taxes in Poland. Such exempted crypto-to-crypto transactions cut across those distributed singly or on the stock market.

Furthermore, cryptocurrency miners WHO work on their own wouldn’t need to pay taxes, because the new bill absolves them of such financial obligations. On the opposite hand, miners who work for alternative people or entities wouldn’t fancy the same land in Poland. They'll remit taxes on their crypto dealings to the govt.