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Kochanski & Partners to Present Tax Follow-up to Their Crypto and Metaverse Report

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On 27 October 2022, the first Polish tax report on crypto, NFT and, more broadly, on the metaverse will be released. With this, Kochański & Partners, the authors of the first Polish report on the metaverse (published in March this year), continue to pursue the hottest topics of technology and business in the tax front. The first report on the metaverse has just earned Kochański & Partners a place on the shortlist for The Lawyer European Awards 2022 in the Most Innovative Technology Initiative category. The presentation of the tax report will be accompanied by an expert debate opening up a space for discussion on the directions of crypto-asset regulation and taxation.

Kochanski & Partners’ latest tax report analyses the tax regulations of various events and transactions involving cryptocurrencies, NFTs and the metaverse. In the eyes of the principal market players, i.e. the cryptocurrency entrepreneurs, NFT creators or companies entering the metaverse, the Polish tax system is opaque and complicated, and as such, uncompetitive. Hence, the aim of the report is not so much to present and summarise the current state of affairs, i.e. Polish regulations and the practice of tax authorities, but to open a discussion on the desired regulatory paths for this market. To this end, the report analyses, i.a., solutions applied in other countries, including those considered to be cryptocurrency tax havens, and EU regulations.

Despite the very dynamic development of crypto and NFT technologies, Polish lawmakers are still at a very early stage of analysing the effects of transactions in virtual currencies. The report poses the most important questions regarding the taxation of crypto, including: how to account for profits from crypto taxing cryptocurrency exchanges and bureaux de change. Beginning with a discussion of crypto issues, the report also touches upon NFT transactions, including the question of what tax a creator of NFT will pay, and also key aspects of the metaverse such as renting office space in the virtual world.

The report was authored by lawyers from Kochański & Partners’ Tax Practice: Agata Dziwisz-Moshe, Wojciech Śliż, Aleksandra Pizon-Jaworska, Mirosław Malczeski, Jakub Dittmer, Sławomir Wnuczek, Katarzyna Pustułka, and Wiktoria Tracichleb.

The presentation of the report will be accompanied by an expert debate where the tax aspects of cryptocurrencies will be the subject of a lively discussion between the authors of the report and representatives of business. This will create a space for the formulation of proposals based on market expectations for a rational approach to regulating this area.

Taking part in the debate are Professor Witold Orłowski, economist, Paweł Łaskarzewski, an expert on NFT, FinTech, Web3, Blockchain & CBDC, Łukasz Wenskowski, CEO of RQ Wealth Management and co-founder of LoopExchange/L222, and others. Agata Dziwisz-Moshe will also participate in the discussion, and the debate will be moderated by Łukasz Węgrzyn, Partner and Head of Technology Practice at Kochański & Partners, originator and co-author of the first metaverse report.

The event is free of charge. For details and registration follow this link: https://www.kochanski.pl/en/events/tax-debate-metaverse-nft-cryptocurrencies-and-taxes/