The Polish government submitted to the President Andrzej Duda (Andrzej Duda), and he in turn approved the draft document regulating the taxation of income received from operations with cryptocurrencies.

According to the document, from 1 January 2019 users are obliged to enter data about purchases and transactions with cryptocurrencies in the annual tax return, and also to pay a tax of 19% when using cryptocurrencies to be exchanged for a payment instrument, a product, a service or a right of ownership that is different from the virtual currency. Such tax rate will be applied to individuals and legal entities.

Conversion from one cryptocurrency to another is exempt from taxation. Received from sale of cryptocurrencies for Fiat money, the income is considered as income from capital gains and investments. And exceeding 1 million PLN revenues from sales of digital assets will be subject to a “solidarity tax” an additional 4%.

Recall that in early November the Finance Committee of the Lower house of the French Parliament adopted amendments to the draft budget law for the year 2019, according to which the income from sales of scriptaction will be considered capital income. From January 1 next year, the country plans to reduce taxes for owners of cryptocurrencies for operations from 36.2% to 30%.