December 12, 2016 Bitcoin officially entered the Polish Classification of Goods and Services or PKWiU for short. On December 12, 2016, Bitcoin officially entered the Polish Classification of Goods and Services or PKWiU for short. At the same time, Bitcoin trading found its place in the PKD (Polish Classification of Activities). From now on, and actually from December 1, establishing a business based on bitcoin trading or bitcoin emissions must be declared by giving PKD 64.19.Z classification at company registration. If the company already exists, the declared classification of activities can be edited at any time. Information about these changes can be found on the website of the Central Statistical Office. Issuing and trading in electronic currency (buying, selling), via the Internet In connection with the decisions made by the EU member states on how to classify activities/services according to the NACE and CPA classifications, whose equivalents at the national level are the Polish Classification of Activities (PKD), introduced by the regulation of the Council of Ministers of December 24, 2007. (Dz. U. Nr 251, poz. 1885 z późn. zm.), Polish Classification of Goods and Services (PKWiU) introduced by the regulation of the Council of Ministers of 29 October 2008. (Dz. U. No. 207, item 1293, as amended) and the Polish Classification of Goods and Services (PKWiU 2015) introduced by the Regulation of the Council of Ministers of 4 September 2015. (Journal of Laws 2015, item 1676) as of December 1, 2016, the following activity/service is classified, by the Public Statistics Service, as follows: electronic currency issuance and trading (buying, selling), via the Internet PKD 64.19.Z "Other monetary intermediation", PKWiU 64.19.30.0 "Other monetary intermediation, not elsewhere classified" - according to PKWiU 2008 and PKWiU 2015. Under the new guidelines, bitcoin trading cannot be taxed at a flat rate of 3%. On what exactly the new change means for entrepreneurs, we asked lawyer Beata Marek from Cyberlaw.pl "From the beginning I have this view that you should account for income from BTC on a general basis according to the tax scale. However, there were large discrepancies in interpretations because there was no regulation in this matter and people didn't know how to account for their income. It should be treated in this respect in accordance with the principle of in dubio pro reo and remember that the main principle of law is that it cannot work retroactively and despite the fact that in tax law this principle is distorted, someone cannot be punished for making a wrong settlement when there was no clear and consistent interpretation of how to settle accounts. Only since then it has been clear how to account for income tax. The introduction by the Central Statistical Office (GUS) of the issue of digital currencies and trading in them (buying, selling) via the Internet under the PKD 64.19.Z "Other monetary intermediation" and accordingly PKWiU 64.19.30.0 "Other monetary intermediation not elsewhere classified" indicates that officials assume that the main function of digital currencies is that of a means of payment and people exchange digital currencies for legally binding ones, which is perfectly legal. However, it is important not to treat this as financial intermediation, because then for sure this dynamically developing fintech market in Poland will move abroad. I think that a certain level of regulation for the operation of digital currency exchanges/exchanges is necessary for this market to develop well, but its specificity should be kept in mind. However it is about such level of regulation as consistent interpretations and functioning based on freedom of business activity and self-regulation based on codes of conduct or good practices of entrepreneurs and regulations ensuring protection of consumer rights, i.e. users of the services." - says Beata Marek, Cyberlaw.pl Tags bitcoin btc CENTRAL STATISTICAL OFFICE PKD PKWiU taxes Poland law
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