Polish Tax Man Says Bitcoin Mining Profits Subject to VAT
Mining bitcoins or other digital currency in Poland? You may be required to pay a value-added tax (VAT). That's according to CoinDesk, who says the decision was made by tax official's in Poland's third-largest city, Łódź. Said decision was made in response to an inquiry from a bitcoin miner in the country, who was looking to sell his mined bitcoins to three different companies. Two of the organizations the miner was planning to sell to were based inside the European Union, the other outside. The miner's understanding was that he wouldn't have to pay a VAT on his transactions, prompting him....
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In the latest turn of events related to the disputed legal status of digital currencies in Poland, a local tax authority has announced that the sale of mined bitcoins is subject to a VAT (value-added tax) of 23%. The interpretation was made by the director of the tax authorities in Łódź, central Poland, following a request submitted by a Polish bitcoin miner. In the released statement, the authorities said that the party requested an interpretation of the Polish regulation regarding taxes imposed on the sale of mined bitcoins. 'Not a commodity'. "The applicant is planning to launch sales....
While its government has yet to issue a firm ruling on Bitcoin, Poland’s Ministry of Finance is on record saying Bitcoin is at least not illegal. Speaking at a seminar on Bitcoin legality last week in Warsaw, Szymon Wozniak, an official representative of the finance ministry, said: “What is not forbidden is permitted. However, we certainly cannot consider Bitcoin to be a legal currency.” Instead, the Polish government intends to keep an eye on Bitcoin’s development, he said. “We expect [Bitcoin] users to declare whether they want the state to protect and regulate, or to remain uninvolved.”....
Polish police have uncovered a secret crypto mining operation at their headquarters in Warsaw, local media reported. An IT specialist accused of minting digital coins on police computers has been dismissed and the case has been handed over to the Prosecutor’s Office. Polish Police Force Fires IT Specialist for Crypto Mining at Work Officers from the Polish National Police have found what local media described as a crypto mining farm at the Policja headquarters in Warsaw. The mining operation was allegedly organized by an IT technician, a civilian employee of the law enforcement....
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