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Tax changes to Belka coming? Soboy: We’re working on it

Podatek Belki wzrośnie do 20 proc.? Są nieoficjalne propozycje

The Ministry of Finance is studying an amendment to the capital gains tax, which initially assumes profits of up to PLN 10,000. PLN will be exempted annually from it, and above this amount they will be taxed at a rate of 20 percent. – Results of the assumptions made by PAP Biznes. Currently, the so-called Belka tax is 19%.

PAP Biznes interlocutors state that there is no free amount – 10 thousand. PLN, nor a tax increase by 1 p. Not 100 percent yet. surely. These assumptions will be analyzed and calculated further.

Tax free allowance PLC includes earnings from both interest on deposits, bank and stock exchange accounts, as well as dividends and interest/discount on bonds.

“The solution is to be neutral to the state budget, i.e. losses should be offset from the tax-exempt amount by increasing the tax rate by 1 pp, up to 20%.” – said the interviewer to PAP Biznes.

For the more than 90 percent of taxpayers who pay tax on capital gains, the proposed solutions will be helpful. The change will be neutral for those who will make an annual profit of PLN 200,000. PLN and less favorable for those whose investment earnings will exceed the level of PLN 200 thousand. PLN per year.

According to preliminary calculations, the revenue structure from today’s capital gains tax is a 1 percent increase for the wealthiest taxpayers. Up to 20 percent of 19% for full compensation of the exemption amount of about 10,000 zlotys. However, it still requires careful conversion.

The Ministry of Finance assumes that long vacant legislation will be necessary and that banks will be given enough time to adjust. Entering the free amount of earnings from bank deposits is more complex and will require the adaptation of IT systems on the part of the banks and the National Revenue Administration.

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The proposals will be consulted with representatives of the banking sector to agree on a roadmap. Consultations on this issue will be held in cooperation with the Association of Polish Banks in the coming days.

The Ministry of Finance intends to adopt the regulations by Parliament for the current term, while their entry into force is likely to be postponed to allow everyone to prepare.

“Thanks to the changes, the capital gains tax will have a more progressive character. The reform is to ease tax obligations for small savers and investors who manage to save small amounts with great effort” – said interviewer PAP Biznes.

The amendments to the law relate to the implementation of the capital market development strategy.

According to PAP Biznes, the Ministry of Finance does not want to make preferences only with respect to one type of asset, such as bank deposits, that some market participants have suggested. This would favor this form of saving, while the aim of the SRRK is to encourage Poles to invest.

At the beginning of October, Deputy Finance Minister Artur Suboye announced that the ministry is working to amend the tax on capital gains for small savers.

“We are working on resolving the tax credit amount, which is analogous to income tax, for capital gains tax,” Suboy told RMF FM on Thursday.

“It comes to those who have little income, some investments, and they have some profits in this account. We are studying this solution today, it is difficult to offer this project by operators. In response, they will be able to adapt their systems to implement that solution “- he added.

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Piotr Rożek (PAP Biznes)

Public relations /

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