2 142

Poland Clarifies the Taxation of Crypto Income

A new document that devoted to amendments in the taxation of crypto incomes has been published in Poland, reports Bitcoin.com. The adoption by the Council of Ministers is planned for the 3rd quarter of this year. 

The main purpose of the document is to simplify and clarify the methods for reporting and paying taxes from crypto assets. The bill differentiates between decentralized cryptocurrencies and centralized virtual money.  

The stated proposal is to declare revenues from virtual currency transactions as part of the taxable income of individuals and businesses, that is the bill is applicable both for natural persons and corporate entities. These include proceeds from the sale of cryptos on exchanges, other trading platforms and in over the counter deals on the free market. Incomes from the sale of goods, services and property for cryptocurrency will also be treated as revenues from capital gains. The exchange between cryptocurrencies, however, will not be taxed.

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