There are major tax revolts looming over the Polish financial system – reports the financial portal infor.pl. The final months will likely be deducted from the savings tax, known as the BILCA tax. The new coalition government is committed to abolishing this tax, which promises big changes for individual investors.
Picture of Warsaw in brief
Belka tax: what is it?
Belka tax, i.e. capital gains tax, is a form of flat-rate personal income tax in Poland, regulated by Articles 30a and 30b of the Personal Income Tax Act. Introduced in 2002 during the term of Finance Minister Marek Belka, the aim of this tax was to tax capital gains.
Taxable income:
BELCA tax applies to a wide range of capital income. These include interest on loans and savings deposits, profits resulting from investments in securities, dividends and other income resulting from participation in the profits of legal persons. This scope also includes income from capital funds and profits resulting from the sale of shares or rights arising from financial instruments.
New financial horizons:
If the government’s new announcements are implemented, savers will be able to keep an additional 19% of their earnings, which has so far been seized by the tax office. This heralds greater incentives for citizens to save and invest, which could significantly impact the dynamics of the Polish capital market.
In summary, although the elimination of the BILCA tax may appear to be a long-term benefit for individual investors, its impact on the overall tax structure and public finances remains a subject for further analysis. Infor.pl is following the developments of the situation and promises to provide the latest information on this important financial issue.
Linguistic and English translator by profession. In the editorial office from the beginning. He loves cats and Warsaw.
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