Income from cryptocurrency transactions is regulated by the tax code and the Ustawa o podatku dochodowym od osób fizycznych, which are updated periodically. Therefore, for a simple and effective solution to issues related to calculating cryptocurrency taxes, it is better to contact experts.
- Tax rate: 19% of the profit received from cryptocurrency transactions.
- Calculation of the taxable base: The tax is levied on the difference between the income from the sale of cryptocurrency and the costs associated with its acquisition. At the same time, the exchange of one cryptocurrency for another is not subject to tax.
- Filing a tax return: Individuals who have received income from cryptocurrency transactions are required to file an annual tax return PIT-38 by April 30 of the year following the reporting year.
- Expense accounting: Expenses include documented costs directly incurred for the acquisition of virtual currency, as well as costs associated with its alienation.
No taxation when exchanging cryptocurrencies: Exchanging one cryptocurrency for another is not considered a taxable event.
Calculation example:
- An individual purchased 1 BTC for PLN 150,000 (the exchange rate is conditional, in reality it may be different in 2025).
- Sold this BTC for PLN 180,000.
- Income was PLN 180,000 – PLN 150,000 = PLN 30,000.
- Tax — PLN 30,000 × 19% = PLN 5,700.
If the sale was at a loss, for example, for PLN 130,000, then the loss of PLN 20,000 is carried forward to the following tax periods and can be deducted from future income.
It is important to note that the acquisition and storage of digital currencies, as well as the maintenance of cryptocurrency accounts, are not taxed. However, income received from cryptocurrency trading is subject to taxation.
How to account for expenses?
The taxable base, i.e. the amount from which the tax will be taken, is income minus the expenses incurred in obtaining this income. And here the situation is less clear. The costs of obtaining income from the sale of cryptocurrencies are documented expenses incurred by the taxpayer for the purchase of virtual currency, and expenses related to their sale, for example, commissions to sales agents.
Difficulties begin when it comes to cryptocurrency mining. Will the costs of equipment and electricity be expenses that can be deducted from the taxable base? According to the official statement of the Polish tax authorities, neither the cost of computer equipment nor the costs of electricity consumption are costs for calculating profit from cryptocurrencies, since it is not possible to determine the exact amount of expenses for each income transaction (for each transaction for the sale of crypto).
BUT:
- There are already several cases where miners have managed to prove in court that without the specified expenses, it is impossible to make a profit on cryptocurrencies, and the proof of expenses, for example, for electricity, are bills from energy companies.
- Unfortunately, none of these court decisions are final yet. Accordingly, the tax authority still insists that the cost of mining equipment and energy costs cannot be deducted from the taxable base for transactions with cryptocurrencies.
What to do if the balance at the end of the year is negative
If, at the end of the year, there is an excess of expenses over income from the sale of virtual currency, then the non-taxable expenses for this category increase in the next tax year. In other words, in this case, the difference in expenses that exceeds the level of income can be carried over to the next year and deducted from the taxable base in it.
At the same time, the next year is also a single year from an accounting point of view, that is, it cannot be divided into any stages, but is taken into account as a whole. However, the taxpayer can, but is not obliged to use the “excess expenses” from the previous year – he has the right to take into account only the expenses incurred in the reporting year. This will not be considered an error.
How to indicate profit if you sold crypto for foreign currency
Income is recorded in zloty. If the sale was made in another currency, the report indicates the amount in zloty at the official NBP exchange rate on the day preceding the transaction.
When and what declaration should be filed
For income received from the sale of cryptocurrency, the PIT-38 declaration is filled out and submitted. It can be submitted both in electronic and paper format to the tax office at the place of residence.
Taxpayers who buy and sell cryptocurrencies must submit the annual PIT-38 by April 30, unless for some reason the date is postponed (for example, in 2022, due to the weekend, in both cases it was May 2). The tax payment deadline is standard. For reporting on cryptocurrencies, Section E of the declaration is filled out.
Thus, the cryptocurrency tax in Poland is an income tax of 19% applied to profits from transactions with digital currencies. To comply with tax laws, it is necessary to submit appropriate declarations in a timely manner and take into account all associated costs.
