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In Poland the cryptocurrency transactions will be tax-imposed

November 21, 2018 00:21:54 - Most recently there were heated discussions in Poland about imposing taxes on digital assets. And the other day the leader of Eastern European state Andrzej Duda signed the bill imposing a 19% tax on income from making cryptocurrency transactions.

The document states that profits from operations with digital currencies will be considered as capital gains. It is worth saying that the rate will be the same for both individuals or different organizations. For the exchange of the coins there will be no additional tax. However if the coins are exchanged for one of the country real currency then the tax will be imposed in favor of the state.

The new bill also provides the so-called “solidarity tax”, it will be 4%. It will be imposed only in case if the profit for working with digital assets reached more than 250000$.

Every year Poles will have to file the tax returns on their income in this area. The law is expected to come into effect on January 1, 2019.

Category: News

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