Will bitcoin be taxed in the PIT as income from property rights?
Will bitcoin be taxed in the PIT as income from property rights? We inform you of the important judgment of the Supreme Administrative Court (II FSK 488/16) of 6 March 2018 year, which affects the harmonisation of the authorities ' positions on the source of revenue obtained from mining sales transactions. The judgment of the NSA referred to the case of the provincial administrative Court in Warsaw (III SA/Wa 3374/14) on the issue of the taxation of the income tax of the sale of Bitcoin. In connection with the trading of Bitcoin arose a dispute between the taxpayer and the skarbówką, whether Bitcoin will be taxed PIT as income from property law? The director of the Warsaw Tax Chamber in individual interpretation (IPPB1/415-276/14-4/EC) defined that revenue should be eligible for income from the sale of property Rights. By contrast, the proof of payment for cryptocurrencies recognized the printouts of the exchange receipts and the method of identification "first came, the first came out."
The Supreme Administrative Court confirmed the position of DIS and WSA and held that the cryptocurrency itself had no effect until it was sold or Acquired.
In addition, we would like to inform you that there is still no doubt as to whether a transaction of one type cryptocurrencies to another would result in a tax obligation.
therefore, we advise you to apply for individual interpretation in the relevant Scope.
Individual interpretation IPPB1/415-276/14-4/EC of the director of the Warsaw Treasury Chamber of 26 June 2014 The judgment in WSA in Warsaw III SA/Wa 3374/14 – dated 11 September 2015 Judgment in NSA II FSK 488/16 – of 6 March 2018