June 8, 2023


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Belka tax remained unchanged. A government spokesperson explains this

The government has no plans to change the Belka tax, government spokesman Piotr Müller announced on Radio Plus. “There are no such decisions,” he said.

mBank analysts commented: “This is how we end the gamble with lower capital gains tax.”

What is Belka tax?

The concept of Belka tax refers to the tax on capital gains and income and is a flat personal income tax. Currently, the so-called Belka tax is 19 percent.

The term came from the fact that it was first introduced in 2002, when Marek Belka was Cabinet Minister of Finance in Leszek Miller’s government. All regulations regarding Belka tax calculation are included in Art. 30a and 30b of the Law of July 26, 1991 on Personal Income Tax.

What does the Belka tax cover?

Capital gains tax, that is, in essence Belka tax covers revenue from cash capital. Their catalog is indicated in Art. 17 of the Pit Law. Belka tax is levied in connection with obtaining, among other things,:

  • interest on time deposits and savings accounts,
  • income from the sale of securities, including shares,
  • bond interest,
  • income from dividends paid,
  • income from participation in investment funds,
  • Income from selling derivatives.

Belka tax is paid when you earn a cash capital gain. The obligation arises at the moment of earning income from investments or savings.

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