Poland: Bitcoin miners to pay 23% VAT

Thursday 5 June 2014 14:01 CET | News

Miners of peer-to-peer decentralized digital currencies, like Bitcoin and Litecoin, will be subjected to a 23% value-added tax (VAT) in Poland, should they plan to continue selling the virtual currencies, reports.

The announcement came after a Bitcoin miner had submitted a request to seek further clarification of the country’s implementation of taxes on the sale of mined Bitcoins.

Polish authorities, in an official document which comes as a reply to the request, consider Bitcoin mining a service and the sale of these mined Bitcoins is similar to asking a fee for the service.

The argument of the authorities is contrary to that of the particular Bitcoin miner who states that Bitcoin mining and its respective sale is not applicable to taxes because it is not a commodity, the same source reports.

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Keywords: Poland, Bitcoin, VAT, Litecoin, digital currency, mining, taxes, online transactions, online sales
Categories: Payments & Commerce
Countries: World
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