Taxation of new technologies

Cryptocurrency (virtual currencies, NFTs and other)

The popularity of cryptoassets (including virtual currencies) has remained significant in the era of progressing digitisation. They are receiving new applications, and winning over new interested parties. Despite a number of legislation amendments, their taxation still raises many doubts.

Based on our unique and vast experience, we offer comprehensive support in such areas as, among others:

1. Tax structuring of business ventures based on cryptoassets.
2. Tax reliefs and exemptions in the cryptoasset industry (e.g., IP Box).
3. Tax consulting, including for natural persons:

– acquiring cryptoassets or their derivative instruments (e.g., through mining, sales contracts or competitions, base salaries or incentive schemes),

– disposing of cryptoassets or their derivative instruments,

– holding cryptoassets or their derivative instruments, but making life- or business-related decisions, e.g., changing their tax residence (exit tax, CFC).

4. Tax consulting for employers implementing remuneration models based on cryptoassets.
5. Day-to-day consulting on operations related to cryptoassets or based on their derivative instruments.
6. Regulatory consulting on cryptoassets.

Fintech and InsurTech

Fintech or financial technologies, revolutionise the way financial services are provided. They are based on new technologies, usually the Internet or other available e-communication tools. They include, among others, new payment methods or innovative financial products. InsurTech are insurance-related technology solutions.

Our services cover all types of activities in the Fintech sector, including:

1. Tax structuring of business ventures in the fintech sector;
2. Tax reliefs and exemptions in the cryptoasset industry (e.g., IP Box);
3. Tax consulting in specialised fintech-related areas;
4. Day-to-day consulting;
5. Support in raising funding for early-stage ventures;
6. Fintech-related regulatory consulting;
7. Legal consulting related to, e.g., contracts.

Gaming

The rapidly developing gaming industry is subject to dynamic changes. It groups different milieus, but still faces numerous tax challenges.

As part of the services we provide based on our know-how and experience, we offer:

1. Tax consulting for the developers and organisers of games, including gambling, particularly focused on optimising tax settlements. This includes, among others:

– identification and support in implementing tax reliefs (e.g., IP Box, 50% deductible costs, and others),

– tax consulting on game revenue tax settlement, including through foreign services,

– tax consulting on the tax treatment of the game development process.

2. Consulting on identifying and raising funding, including state aid, for gaming sector activities.
3. Legal consulting at all product life-cycle stages.
4. Legal consulting on concluded contracts.

Gambling

Gambling games are governed by specific regulations. For example, organizing them is prohibited in many cases in Poland, and the permitted types are scarce and are subject to numerous restrictions. Simultaneously, gambling games are more than just casinos or betting. They include many other activities, including marketing-related (e.g., promotional lotteries). They require familiarity with the regulations, including tax laws.

Our services cover all stages and types of activities in the field of gambling games, including online. They are, among others:

1. Regulatory consulting for entities interested in the gambling business, including:

– identification and classification of activities undertaken in the field of gambling games (including promotional undertakings),

– support in developing and filing an application for the classification of activities as gambling games,

– consulting and support in developing and filing applications for licences or permits related to gambling activities.

2. Conducting administrative proceedings related to gambling games.
3. Tax consulting for game developers and creators, including gambling games, particularly focusing on optimizing tax settlements.
4. Day-to-day consulting on tax law related to all taxes.
5. Handling tax proceedings.
6. Consulting on counteracting money laundering through gambling games.
7. Consulting on intellectual property rights related to software, including computer games and content.
8. Legal consulting on violation of software licensing rights, including computer games.