Poland publishes new legislation to clarify tax landscape with cryptocurrencies

[Brazio]

After months of waiting and discussions, Polish lawmakers have published new legislation that clarifies the current tax landscape around cryptocurrencies and decentralized trade. According to the information provided by the Kryptowaluty site, the new document will enter an evaluation phase by the Council of Ministers, during the end of the third quarter.

It should also be clarified that the previous tax regulations, which had been refuted by the cryptocurrency community at the beginning of the year, will be taken into consideration, but adding certain modifications. On the other hand, the new considerations define, in the first place, cryptocurrencies as "a digital representation of money". In this sense, virtual currencies are divided into two groups or categories: "cryptocurrencies and centralized digital currencies", which, in turn, can serve as a means of exchange in exchanges, e-commerce firms and be accepted as alternatives to Payments.

As for tax measures, transactions between peers and coordinated by an exchange will be tax free; while the income resulting from the sale of services, property, goods or other commercial acts, will be subject to taxes. The measures that concern the cryptocurrency miners establish that if the act is carried out for personal benefit and individually there will be no need to pay taxes; on the contrary, those who work with or for commercial entities must abide by the new ordinances.

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[DiZEL]

I think that in Poland they will not be able to independently enact any important laws on the regulation of crypto-currency without the relevant decision of the European Union! Draft laws can of course be prepared, but they will not be accepted, most likely.