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How can I settle cryptocurrency tax in Poland?

Polish tax residents must pay a 19% tax on income from cryptocurrencies every year. Here's what you need to know:

  1. Income is calculated by deducting costs such as the purchase price and/or transaction costs from the revenue.
  2. However, the tax authorities will not allow you to include the cost of purchasing a computer or electricity costs if you mine cryptocurrencies yourself.
  3. No revenue is generated if one cryptocurrency is exchanged for another.
  4. It is only recognized when cryptocurrency is exchanged for fiat currency or used to purchase a product or service.
  5. Importantly, you must calculate your income yourself, as cryptocurrency exchanges are not able to issue PIT forms.
  6. The PIT-38 tax return must be filed by April 30 at the latest.