Crypto traders in Poland have been unpleasantly surprised with a controversial tax they thought they wouldn’t have to pay. The Civil Law Transactions Tax (PCC) is applicable to digital asset trades conducted before the introduction of last year’s moratorium on its collection, the Polish tax administration recently clarified. The matter has been discussed on European level as well.

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PCC Tax Applies to Crypto Transactions

In Poland, the PCC tax (Podatek od czynności cywilnoprawnych) is a 1 or 2% tax levied on sales of assets outside the scope of Europe’s widely implemented value added tax (VAT). The transfer tax on civil law transactions is usually due when the seller is not a business entity or the sale is of a movable property, real estate or various rights. The tax is payable by the buyer and is calculated on the value of the purchased asset.

Poles Hit With Backdated Tax on Crypto Trades

According to an interpretation of the tax code issued in April last year, a 1% PCC tax should in principle…

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Source: https://news.bitcoin.com/poles-hit-with-backdated-tax-on-crypto-trades/