Post by account_disabled on Dec 2, 2023 4:28:00 GMT
The Polish tax authorities were of the opinion that such a transaction could not benefit from VAT exemption. Only the ruling of the Court of Justice of the EU of October in case C- changed this approach. The conclusion of this judgment is binding on EU countries and it follows that bitcoin trade is exempt from VAT within the European Union. Such turnover has been classified as a financial service which benefits from an objective exemption under the Polish VAT Act. Exchange of traditional currencies for bitcoins – summary.
Bitcoins are a digital currency whose circulation is not supervised by any institution. However it is not prohibited to purchase and exchange this cryptocurrency. In Poland every person who comes into possession of bitcoins is obliged to report their purchase and sale photo editing servies in the PIT- annual tax return. For personal income tax purposes bitcoins are treated as cash capital. However they cannot in connection with trading in financial instruments such as securities shares shares derivatives of financial instruments.
This means that the rules for reporting and settling them in PIT- are slightly different. There is no obligation to allocate the income obtained to tax-deductible costs in the case of trading in virtual currencies. When settling PIT there is no mention of a loss accumulating costs is more popular. People interested in this type of investments should know that large fluctuations in purchase and sale rates are noticeable on this market even in short time frames. When it comes to VAT settlement bitcoin trade is subject to an objective exemption so no tax will be charged on such transactions. Share with others Up Previous article.
Bitcoins are a digital currency whose circulation is not supervised by any institution. However it is not prohibited to purchase and exchange this cryptocurrency. In Poland every person who comes into possession of bitcoins is obliged to report their purchase and sale photo editing servies in the PIT- annual tax return. For personal income tax purposes bitcoins are treated as cash capital. However they cannot in connection with trading in financial instruments such as securities shares shares derivatives of financial instruments.
This means that the rules for reporting and settling them in PIT- are slightly different. There is no obligation to allocate the income obtained to tax-deductible costs in the case of trading in virtual currencies. When settling PIT there is no mention of a loss accumulating costs is more popular. People interested in this type of investments should know that large fluctuations in purchase and sale rates are noticeable on this market even in short time frames. When it comes to VAT settlement bitcoin trade is subject to an objective exemption so no tax will be charged on such transactions. Share with others Up Previous article.