Crypto Traders in Poland Will No Longer Be Taxed for Every Online Transaction

The Government of Poland submitted an

updated draft law

with the rules of taxation of the cryptocurrency trade. According to the document, traders can not pay taxes for transactions.

Now income from the sale of goods and services will be taxed according to the same pattern as traditional incomes. The bill applies to both individual traders and large companies.

In April, the Polish Ministry of Finance announced the introduction of a "tax on transactions according to the civil law" for all cryptocurrency transactions. By its decision, it obliged residents of the country to report in their tax declarations on all income from trade and exchange on cryptocurrencies such as Bitcoin, Litecoin and Ethereum. Given the number of transactions that a trader can perform, this taxation system seemed absolutely unaffordable.

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