The Ministry of Finance has revealed fresh details of the changes in the Belka tax, which aim to reduce the taxation burden on monetary income. This proposal mainly concerns savings and equity investments and aims to introduce taxation exemptions limits for certain types of savings.
Proposals from the Ministry of Finance
Deputy Minister of Finance Jarosław Neneman announced that work on changes to the Belka taxation is ongoing, and that the fresh rules presume the introduction of tax-free income amounts. According to the announcements, savers in savings accounts and those investing in bonds may be exempt from the Belka taxation up to a certain yearly limit.
Restrictions on Taxation
In the context of the proposed changes, savers may benefit from taxation exemptions only under separate savings packages. specified packages may be conducted by financial institutions in Poland, with the aim of reducing the taxation of income from cash capital.
Tax Exemption Mechanism
Under the fresh rules, financial institutions with separate savings packages will not collect income taxation on fixed-term deposits and bonds up to a certain tax-free amount. However, above that amount, these institutions will charge a income taxation of 19%.
New Rules for Capital Investments
For capital investment income, an yearly tax-free income will be introduced. taxation payers will be required to settle these revenues in the yearly message PIT-38. The yearly taxation exemption limits for savings and equity investments will be set in the announcement of the Minister of Finance for each calendar year.
Proposal for a taxation exemption amount
Deputy Minister Neneman proposed that the amounts of exemption from savings and capital investments should be the product of NBP deposit rate on the last day of the 3rd 4th of the year preceding the taxation year and PLN 100 thousand. Currently, the proposed amount would be PLN 5250.
No another Changes planned
The Ministry of Finance is not presently planning any another changes to the taxation rules on income from monetary capital on individuals outside the proposed taxation exemptions limits.
The proposals for changes to the Belka taxation supply for taxation exemptions for savings income and capital investment. The aim of these changes is to reduce the taxation burden on savers and investers, which can increase the attractiveness of specified savings and investments.
Ignacy Michałowski
OSINT investigator with experience in global journalism projects. It has been publishing materials for over 20 years for the largest releases. In social activities he engaged in various projects and initiatives aimed at improving the quality of life of people, especially those of mediocre communities. He was besides active in the fight for human rights. Contact: kontakt@legaartis.pl
