WARSAW: The sale and conversion of cryptocurrency aren’t subject to a 1 percent civil law levy, but personal income tax will continue to apply, Polish Deputy Finance Minister Pawel Gruza said at a news briefing on April 20.
He spoke following a meeting with representatives of cryptocurrency traders and investors. His comments come more than two weeks after the Polish Ministry of Finance said the 1 percent levy would apply—an announcement met with sharp criticism from traders.
Unlike personal income tax, which is paid on taxable income, the 1 percent levy—deemed a civil law transaction tax in Poland—is paid on market value regardless of whether the taxpayer turns a profit.
