If a private person receives income from trade, purchase and sale of virtual currency or from the exchange of virtual currency against another virtual or traditional currency, the received income must be declared in the tables 6.3 or 8.3 of the income tax return as gains from transfer of other property.
The gain is calculated based on the transaction as the difference between the selling price and the purchase price, or, in the case of exchange, between the price of received property and the purchase price of the virtual currency.
Only the transactions that generated income have to be declared. In the taxation of property, each transfer transaction, including exchange, is considered as a separate object of taxation.
The transaction of transfer which caused loss can be taken into account for taxation purposes only in the case of transfer of securities on the terms and conditions provided for in § 39 of the Income Tax Act. Virtual currency is not considered as a security and loss suffered upon the exchange of virtual currency cannot be taken into account for taxation purposes. Therefore, it is not possible to declare such a transaction. Consequently, the costs of economic risks in the case of decrease in the value of virtual currency will be borne by the person concerned.