Cryptocurrency tax in Poland: PIT-38 explained for investors

If you bought or sold cryptocurrencies (or, to use the formal term, virtual currencies) during the tax year, you will need to report either the income you earned or the costs you incurred in your annual PIT-38 return. The deadline for filing is April 30 of the following year.

This requirement also applies if you used crypto to pay for goods, services, or other non-crypto assets – essentially, any disposal that is not a straight crypto-for-crypto swap.

Understanding how cryptocurrency is taxed in Poland is essential for crypto investors who want to reduce tax risk and ensure full compliance.

How is crypto taxed in Poland – PIT-38 tax form

Profits from selling cryptocurrencies are treated as capital gains and taxed at a flat rate of 19%. These earnings are reported separately from other income – like employment, IP rights, or business activity.

You will report them using tax form PIT-38, which is dedicated to capital income. Just keep in mind: crypto gains do not get cumulated with profits or losses from stocks, mutual funds, or other investments.

On your PIT-38 return, you should include:

• Revenue from selling crypto, including:
  • Converting crypto to fiat currency (like PLN, EUR, or USD, etc.),
  • Using crypto to pay for goods, services, or property rights (that are not crypto).
• Acquisition costs, such as:
  • Documented purchase costs,
  • Transaction fees or exchange commissions.

One important note: costs related to mining crypto are not deductible.

Even if you did not sell anything, you are still obliged to file a PIT-38 return if you spent money to acquire crypto. These unused costs can be carried forward and applied against future crypto profits.

Crypto swaps

Exchanging one cryptocurrency for another – say Bitcoin (BTC) for Ethereum (ETH) – is considered tax-neutral under Polish tax law. This means crypto-to-crypto swaps do not trigger taxation and do not need to be included on your PIT-38 return.

However, you also can not claim any related expenses as deductions.

If the exchange goes bankrupt

A common challenge among crypto investors is the bankruptcy of an exchange where assets were stored.

If, after legal proceedings, you manage to recover your assets and later sell them or use them to pay for something, that counts as taxable income — and it needs to be reported.

According to guidance from the Polish tax authorities[1], selling recovered crypto in or after 2024 generates income taxed at 19%.

But here is the good news – you can deduct the original purchase price (even if the exchange no longer exists), along with any fees or commissions involved in the sale.

To claim these deductions, proper documentation is required, such as bank transfers to the exchange that filed for bankruptcy.

If you bought the crypto before 2019, you did not have to report it at the time. You can now include those costs in your PIT-38 return for the year you eventually sell the assets.

What documents should be kept on file?

To avoid problems if you’re audited by a tax office in a future, you should keep documentation confirming your crypto activity. Examples include:

• Bank transfers to exchanges,
• Bank statements,
• Receipts or invoices for crypto purchases,
• Exchange transaction histories,
• Exchange or bank-generated reports.

Without documentation, the tax office may reject your cost deductions – and that could significantly increase your tax liability.

How we can support you

We offer practical, end-to-end support for individuals navigating the crypto tax rules in Poland. This includes, among other things:

• Guidance on how your planned crypto transactions might be taxed,
• Preparing your PIT-38 return (including income and deductible costs),
• Verifying whether your crypto-related expenses can be deducted,
• Reviewing your previous returns for any crypto gaps,
• Preparing amended returns if needed,
• Tax residency analysis and future planning in the context of crypto disposals.

Need guidance on your cryptocurrency tax obligations in Poland? Our team is ready to support you every step of the way.

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[1] Individual tax ruling issued by the Director of the National Tax Information Office, dated 21 November 2024, reference: 0114-KDIP3-1.4011.619.2024.2.AK.