The settlement of cryptocurrencies in Poland is regulated by the provisions of the Personal Income Tax Act (PIT). Since 2019, a clear tax classification has been introduced – trading in virtual currencies is treated as a sale of virtual currency (property rights) for consideration. Income from trading in cryptocurrencies is normally settled using the PIT-38 form. This also applies to entrepreneurs, provided that the transactions are carried out outside the scope of their business activity. However, if trading in cryptocurrencies is the subject of the business activity, the income must be settled as part of the business activity (PIT-36/PIT-36L) or CIT.
When does the tax obligation arise?
The tax obligation appears at the moment of exchanging cryptocurrency for:
- legal tender (e.g. GBP, EUR),
- goods or services,
- other property rights (excluding cryptocurrencies).
Important: crypto-to-crypto exchange is tax neutral and does not generate taxable income.
Cryptocurrency tax – rate
Income from cryptocurrencies is taxed at a flat rate of 19% for individuals. Companies settle profits from cryptocurrencies as part of CIT. The regulations do not provide for thresholds, allowances or exemptions – all income is taxed, regardless of its amount. However, it is possible to deduct documented costs of purchasing cryptocurrencies and transaction fees, which reduce the tax base.
How to calculate tax on cryptocurrencies?
The tax base is income (i.e., revenue minus tax-deductible costs).
Revenue includes:
- cash received from the sale of cryptocurrencies,
- the value of goods or services paid for with cryptocurrency.
Tax-deductible costs (must be documented):
- documented expenses for the purchase of cryptocurrencies (e.g. transfers, exchange history),
- commissions of exchanges, currency exchange offices and platforms.
Non-deductible costs:
- expenses for mining equipment and energy,
- purchase financing (e.g. credits, loans),
- crypto-crypto transactions.
Costs can be reported even if no income was generated in a given year – the excess can be carried forward to subsequent years.
Obligation to submit PIT-38
The PIT-38 declaration must be submitted by persons who:
- have obtained income from the sale of cryptocurrencies,
- have not obtained income but have incurred expenses for the purchase,
- conduct business activity but trade in cryptocurrencies outside the scope of that activity.
Note: in the case of professional cryptocurrency trading as part of business activities (e.g. currency exchange offices, trading services), the income may be classified as business activity and settled as DG or CIT.
Deadline: from 15 February to 30 April of the year following the tax year (e.g. for 2024 – until 30 April 2025).
Form: paper, by post or electronically (e-Declarations, Your e-PIT).
Cryptocurrency donations
Cryptocurrency donations are not subject to personal income tax, but to inheritance and gift tax. The tax liability rests with the recipient, and the amount of tax depends on:
- tax group (I, II, III),
- value of the donation,
- timely notification of the acquisition to the tax office.
Immediate family (the so-called ‘group 0’ within group I) – spouse, children, grandchildren, parents, grandparents, siblings – are fully exempt from tax, provided that the donation is reported within 6 months on the SD-Z2 form.
When selling cryptocurrency received as a gift, the recipient must pay 19% income tax. Since they did not incur any purchase costs, they cannot claim them – the exception is sales costs, e.g. exchange commissions.
Invoices and payments in cryptocurrencies
The regulations allow invoices to be issued with the option of payment in cryptocurrency. However, according to the VAT Act, the tax amount must always be expressed in PLN. The entire invoice – both the net value, VAT and gross value – must be formally issued in Polish zlotys. Cryptocurrency can only be a form of payment if the contractors agree to it.
Risks and penalties
The National Revenue Administration (KAS) monitors cryptocurrency transactions, especially large and repeated ones. Concealing income has serious consequences:
- overdue tax + interest,
- additional tax liability of up to 75% of the amount of tax understatement,
- risk of account blocking and criminal proceedings.
Taxpayers who have not reported their income can take advantage of the active repentance procedure – submit a correction to their tax return and explanations, which often protects them from criminal consequences.
If you have any questions about cryptocurrency tax or need support with virtual currency transaction settlements, getsix® is here to help. We offer tax situation analysis and comprehensive advice adjusted to individual needs to ensure correct settlement and tax security.
Legal basis
- Act of 26 July 1991 on personal income tax (Journal of Laws 1991 No. 80 item 350, as amended)
- Act of 15 February 1992 on corporate income tax (Journal of Laws 1992 No. 21 item 86, as amended)
- Act of 29 August 1997 – Tax Ordinance (Journal of Laws 1997 No. 137 item 926, as amended)
