Poland Introduces New Bill to Clarify Crypto Taxation

Polish legislators have introduced a long-awaited new bill to clarify the current crypto taxation policy.

The document was published on the country's government site on Friday, August 24, and explained by local crypto media outlet Kryptowaluty August 25.

The previous taxation policy, which had been resisted by country's crypto community earlier this year, was taken into account but has been slightly changed.

The purpose of the bill, as stated by government, is to simplify the tax system for crypto transactions.

As for taxation, the bill refers to both individuals and businesses.

The document then covers crypto miners, noting that those who work for themselves won't be charged, while others who work for entities or individuals will be obliged to pay taxes.

The current taxation system in Poland is 18% is for an annual income of up to 85,500 zloty, and 32% for incomes above this limit.

In February, the Central Bank of Poland admitted to funding $27,000 worth of content aimed against crypto, which was published on YouTube and then broadcast by local press.

As the Polish crypto community criticized the campaign along with the newly announced taxation for digital currencies, the local Finance Ministry rolled the measure back, promising to elaborate more convenient regulation.

In June, crypto owners from Poland blamed banks for deliberately denying service to cryptocurrency entities and selectively closing accounts, Cointelegraph reported.