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In Poland, they will introduce a 19% tax on bitcoin operations



President of Poland Andrzej Duda signed a bill implying the introduction of a 19% tax on income from operations with cryptocurrencies. This is reported by Crypto News .

According to the document , the profit from operations with cryptocurrencies equates to capital gains. The rate of 19% is the same for individuals and organizations. However, the tax is not charged when converting one cryptocurrency to another, but only when exchanging digital assets for fiat money, goods, services, etc.

In addition, the new legislation provides for a so-called “solidarity tax” in the amount of 4%, which is levied if the income from cryptocurrency exceeds 1 million Polish zlotys (about $ 250,000).

Citizens will report annually in tax returns on operations with cryptocurrencies. The new rule should come into force in January 2019.

Earlier, BlockchainJournal reported that in France they are going to tax 20% of funds raised during the ICO.

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