6:58 17 January 2025
Proposed reforms to Belka tax
The Ministry of Finance is working on changes to Poland’s capital gains tax (the Belka tax) to encourage long-term investments. Deputy Finance Minister Jarosław Neneman stated that the draft proposal includes annual tax exemptions of up to PLN 100,000 for income from:
Treasury bonds with maturities of at least one year.
Fixed-term savings accounts lasting at least one year.
Capital gains from securities, shares, and financial instruments.
These reforms are still under internal review, and no timeline has been set for finalization. Finance Minister Andrzej Domański has indicated the goal of presenting the final proposal by mid-2025, with implementation in 2026.
The Belka tax, introduced in 2002, initially taxed savings at 20%, later reduced to 19% and expanded to include stock market investments. These proposed changes aim to foster long-term savings while retaining crucial state revenue.
