PCC on cryptocurrencies will soon be abolished as part of the Shield

The Law.pl portal published an article that brings us closer to the draft of the new version of the Cryptocurrency Shield. This one is supposed to abolish the PCC tax on cryptocurrencies. Z [...] https://www.pinterest.com/pin/1085437947660215829/

The Law.pl portal published an article that brings us closer to the draft of the new version of the Cryptocurrency Shield. This one is supposed to abolish the PCC tax on cryptocurrencies. Fintek.pl, on the other hand, noticed something quite different last night. What is the truth? We already explain. PCC is a thing of the past? PCC charged on transactions based on cryptocurrencies has caused controversy for a long time. The government understood the nonsense of the provision, but instead of finally changing it, it only extended the tax abatement for more months. That may now change. - The 25th day of the pandemic is passing under the sign of panic of the cryptocurrency industry and it is not at all about the changing prices in the market, but about the legal risks of doing business related to cryptocurrency trading. - lawyer Rafał Prabucki explains to us. - It is hardly surprising, since due to this particular event, which is the proliferation of COVID-19, all the shortcomings of the rulers are much more visible than in the normal everyday functioning of the state. The lack of idea of the rulers on the problem of taxes and cryptocurrencies is also visible now. For example, the loud and controversial issue of the tax on civil law transactions (PCC) has been solved with a temporary abolition - he adds. It appears that the problem may soon disappear. - And while simply delaying the "PCC on crypto" issue seemed reasonable at the time, for 2 years such a state of affairs did not at all result in stabilizing the ground for business of this kind in Poland. Yesterday, the Fintek.pl portal reported that cryptocurrencies will finally be subject to PCC. I do not know what is the source of this information, but from the leaked materials provided by the law.pl website, it appears that, as part of the Anti-Crypto Shield 2.0, Article 13 plans to modify Article 9(1) of the PCC Act by adding to the list therein a point 1a) which reads: "the sale and exchange of virtual currencies within the meaning of Article 2(2)(26) of the Law on Anti-Money Laundering and Terrorist Financing of 1 March 2018 (Journal of Laws of 2019, item 1115, as amended)". Let us add that this is the list of exemptions from PCC. So, after the new law comes into force (I note that it is a draft), the sale and exchange will be exempt from PCC - the lawyer explains to us. In other words, PCC on cryptocurrencies will be completely abolished. Of course, provided that the project reached by prawo.pl is true, and it will come into force in this form. Cryptocurrencies in Poland will strengthen thanks to the crisis? If all this is true (let's add it again: it's a project!), it may turn out that the crisis will somehow strengthen cryptocurrencies in our country. Too bad it's so late... Update: Fintek.pl also debunked its original reports ("However, the opposite is true. Shield 2.0 provides for the exemption of cryptocurrency exchanges from PCC from July 1, 2020."). Tags cryptocurrencies PCC pcc bitcoin pcc tax cryptocurrencies