Poland Petition Against Government's Over-taxation

Poland Petition Against Government's Over-taxation

 Cryptocurrency users in Poland start a petition in protest of the government's tax regulations on cryptocurrency transactions on the grounds of over-taxation. 

Cryptocurrency users in Poland start a petition in protest of the government's tax regulations on cryptocurrency transactions on the grounds of over-taxation. 

A petition was recently created in protest of the Polish government's plan to tax every single cryptocurrency transaction, whether a loss or gain has been realized. A major point of contention with the tax measures are the automatic subjectivity to a 1% tax on "transfer of property", which is counted anytime one buys, sells or trades cryptocurrency. 

The contract for the sale and conversion of cryptocurrencies, which is a property right, is subject to the tax on civil law transactions (PCC) [16]. In the case of a sales contract, the obligation to pay this tax - in the amount of 1% of the market value of the acquired property right sold to the cryptocurrency - concerns the buyer. At the exchange agreement, the obligation to pay tax - in the amount of 1% of the market value of the property right, from which a higher tax applies - concerns jointly the parties to the transaction.
— Polish National Tax Administration

The crypto-community in Poland believe it is unfair that the government be able to tax these transactions multiple times, by way of, personal income tax (PIT), value added tax (VAT) and the PCC tax, which is the 1% tax ("of the market value of the property (cryptocurrency)", which is charged to both the buyer and seller of the cryptocurrency, even if a loss is realized. The petition suggests that Polish cryptocurrency users could be subjected to being taxed "a hundred or even a thousand times". These unappreciated regulations have prompted this petition, and make the plea that this will ultimately restrict access of Polish citizens to the "constantly growing market of cryptocurrencies". In summation of their plea, the petition has this to say:  

There is no doubt that the blockchain technology and its applications are another of the revolutions, similar to the one that the Internet has given us. As Poles, we are demanding the release of the blockchain technology market and the abolition of all taxes related to this industry. We want to be active creators of this technology, not just its passive recipients in the coming years, from centralized Polish institutions or foreign entities.
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