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Poland 1% bitcoin sales tax

  • EU VAT
  • 14 April 2018 | Richard Asquith

Poland 1% bitcoin sales tax

The Polish Finance Ministry has made all bitcoin trades subject to a 1% turnover tax.

The tax, Podatek od czynności cywilnoprawnych, is a limited financial transaction tax on certain loans and mortgages.

Under EU VAT rules, following an ECJ ruling, cryptocurrencies are treated as a private currency and therefore not subject to VAT on trades. Gains are still though subject to capital gains tax or corporation tax.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.