3
1
I turned some profit when trading bitcoin on Bitcurex - likely enough to exceed the tax-free income value in Poland. That likely would mean I should declare the profits in my tax return forms and pay income tax on them, but I have no clue how they are classified and taxed in Poland. Do I have to pay tax on my profits? If so, how do I calculate how much to pay? Where do I fill it in, on my PIT forms?
1
Although I am no polish or live in Poland, I would recommend to claim it as you would do for a investment. If the government finds out your not paying tax, the consequences are far greater than the tax you would pay.
If your not sure then just call the tax department of the Polish government. On Forbes Cameron Keng has written this article, check it out and see if it answers your question. I've red it and it does give me a vague answer.
Hope this has helped
1
It's a little big dangerous and not easy, here you can find more information for Polish bitcoin taxa: https://cotojestbitcoin.com/
2 Welcome to Bitcoin! Whilst this may theoretically answer the question, it would be preferable to include the essential parts of the answer here, and provide the link for reference.
2Perhaps you should request this kind of information from your tax adviser? Also if it is a relatively small profit, I don't think anyone would care if it just went straight in your pocket :-). – Jori – 2013-10-14T12:59:15.143
@Jon: So far my taxes were simple enough that I didn't have to hire a tax adviser, and the profit wasn't high enough to grant hiring one. As for "relatively small", polish IRS persecutes even tiny violations and the fines are fearsome. It's not how much I owe, it's how much they can extort by persecuting me for not paying my dues - and it's completely disproportionate to what I owe! – SF. – 2013-10-14T13:09:12.980
Okay, I didn't know that. Guess the situation in Poland is a lot different from the Netherlands. Tax advisers are very common here and tiny untaxed profits aren't prosecuted. Can't you request information from your local government representatives? – Jori – 2013-10-14T13:16:40.260
@Jori: ...and go through the hell of explaining them what Bitcoin is, when most of them have trouble using computers? Another serious problem: any violations resulting from misinformation by a government representative is the sole problem of the misinformed citizen. They can make up anything they want to get me off their neck with questions they don't know answers to, and then hint the inspectors I'm worth investigating. In Poland IRS is NOT your friend. – SF. – 2013-10-14T13:50:27.050
@SF.: Is IRS (or whatever one calls it in his country) your friend anywhere? Italy's "Agenzia Delle Entrate" is colloquially called "ADE" (the Italian translation of "Hades") for a very good reason... – Massimo – 2013-10-15T06:47:13.063
@Massimo: In most countries they are merely to collect the taxes. Here it seems they deemed fines bring more money in than taxes, so misguiding people so that they could be fined later is the preferred tactic. – SF. – 2013-10-15T07:56:09.183
@SF.: The same applies to Italy. – Massimo – 2013-10-15T08:40:09.243