This year, cryptocurrency traders in Poland will be required to pay income tax on revenue derived from the sale of cryptocurrencies, reports cryptonews.

According to the new tax regulation, cryptocurrency investors will be subject to a minimum tax rate of 19%, depending on their revenues in a year:

“The applicable tax rate will be lowered from 32% to 19% for those investors whose revenues will exceed the first tax threshold (PLN 85,528),” says Marcelina Szwed-Ziemichód, a tax advisor from tax advisory firm MSZTax.

Polish legislators had proposed changes regarding taxation of cryptocurrencies in a bill published in August 2018.

The bill refers to taxable revenues generated from crypto related activities of both individuals and businesses. These would include proceeds from the sale of crypto on exchanges, other trading platforms, in over-the-counter deals on the free market, and crypto mining.

Income from selling services, property, and goods will be treated as revenues from capital gains. However, the exchange between cryptocurrencies will be tax-free.

The current Polish taxation system is scaled into two brackets – 18% for annual incomes of up to 85,528 zloty ($23,000), and 32% for incomes above this limit.