Question 1

What is "podatek Belki"?

Accepted Answer

It's the common name for the Polish 19% capital gains tax on, among others, selling stocks, ETFs and bonds, and on dividends and interest. It's named after the finance minister who introduced it.

Question 2

When and how do I file PIT-38?

Accepted Answer

You file PIT-38 by 30 April for the previous year. Polish brokers send a PIT-8C form with ready figures by the end of February. Foreign brokers don't issue it, so you work out revenue and costs yourself.

Question 3

Which exchange rate should I use?

Accepted Answer

The NBP average rate (table A) from the last business day before the transaction. The purchase uses the rate from before the purchase, the sale the rate from before the sale. The calculator fetches these rates for you, but you can also enter them manually.

Question 4

What counts as a cost?

Accepted Answer

The purchase price of the securities sold and the brokerage commissions on buying and selling. Account fees usually can't be assigned to a specific transaction, so the calculator leaves them out.

Question 5

What can I do with a loss?

Accepted Answer

Losses on some transactions reduce gains on others in the same year. If the whole year ends with a loss, you can deduct it from gains over the next 5 years – up to 50% of the loss in a single year, or once up to PLN 5 million.

Question 6

How do I settle a foreign dividend?

Accepted Answer

Poland is owed 19% tax on the gross dividend. You subtract the tax withheld abroad, but only up to the limit in the double tax treaty – usually 15%. You pay the difference in PIT-38.

Question 7

What is the W-8BEN form?

Accepted Answer

It's a US form confirming you live in Poland. With it, dividends from US companies are taxed at 15% instead of 30%. Without it you can credit only 15% in Poland and lose the rest.

Question 8

How can I legally avoid the tax?

Accepted Answer

In an IKE you pay no tax on gains if you withdraw after age 60. In an IKZE you pay only 10% when withdrawing after 65, and contributions lower your income tax each year.

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