Tax Authorities Monitor Polish Cryptocurrency Investors

The tax authorities are investigating the foreign bank accounts of Poles, particularly in the context of cryptocurrencies. The Tax Office has summoned an investor to explain the balance on their account, which amounted to 2.5 million PLN in 2021 and 1.5 million PLN in 2022. This information was obtained through the Common Reporting Standard, which has been in effect in Poland since 2017. The Ministry of Finance confirmed that the audits are conducted based on risk analysis. The EU directive DAC8 strengthens the powers of authorities, obliging cryptocurrency exchanges to report user data. Experts indicate that officials will seek to recover unpaid taxes, and issues may arise if the taxpayer cannot prove the source of their cryptocurrencies. Individuals who have not paid taxes on cryptocurrency income can take advantage of the institution of active regret to avoid consequences.

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