IDEAS home Printed from https://ideas.repec.org/a/sja/journl/v10y2021i2p123-129.html
   My bibliography  Save this article

Blockchain Technology And Mining Process: How Does Polish Tax Law Tackle The Problem?

Author

Listed:
  • Robert Siucinski

    (University of Lodz, Poland)

Abstract

This essay aims to analyze the new phenomenon of the blockchain technology from the perspective of Polish tax law. Beginning with the description of the way blockchain technology operates, the notions of decentralization , proof of work consensus, and practical immutability are explained. The author researches the new tax regulations in force in Poland since 1 January 2019 and focuses on revenues from cryptocurrency trading, which are classified as revenues from money capital and revenues from capital gains. The article presents a definition of the disposal for valuable consideration of a virtual currency, explains how high is the income tax on income earned from the disposal for valuable consideration of virtual currencies, and provides an overview of the legislation related to tax deductible expenses. Finally, some reflections on the cryptocurrency trading in the context of the pursuit of an economic activity are given.

Suggested Citation

  • Robert Siucinski, 2021. "Blockchain Technology And Mining Process: How Does Polish Tax Law Tackle The Problem?," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 10(2), pages 123-129, June.
    • Handle: RePEc:sja:journl:v:10:y:2021:i:2:p:123-129
    as

    Download full text from publisher

    File URL: http://www.adjuris.ro/revista/articole/An10nr2/15.%20Robert%20SIUCINSKI.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Bitcoin; virtual currency; blockchain technology; mining; tax law; Polish law; revenues from money capital; revenues from capital gains.;
    All these keywords.

    JEL classification:

    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sja:journl:v:10:y:2021:i:2:p:123-129. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catalin-Silviu Sararu (email available below). General contact details of provider: https://edirc.repec.org/data/ssjarea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.