The government has no plans to change the Belka’s tax, government spokesman Piotr Müller announced on Radio Plus. “There are no such decisions,” he said.
“This is how we end the adventure with a lower capital gains tax” – mBank analysts commented.
What is the Belka tax?
The concept of Belka tax refers to the tax on capital gains and income and is a flat-rate personal income tax. Currently, the so-called Belka’s tax is 19 percent.
The term came from the fact that it was first introduced in 2002, when Marek Belka was the Minister of Finance in the Council of Ministers in the government of Leszek Miller. All regulations regarding the calculation of Belka’s tax are included in art. 30a and 30b of the Act of July 26, 1991 on personal income tax.
What does the Belka tax cover?
A capital gains tax, that is, in essence Belka’s tax covers revenues from cash capital. Their catalog is indicated in art. 17 of the PIT Act. Belka’s tax is charged in connection with obtaining, among others:
- interest on term deposits and savings accounts,
- income from the sale of securities, including shares,
- bond interest,
- income from the dividend paid,
- income from participation in investment funds,
- income from the sale of derivatives.
Belka’s tax is paid whenever you earn a profit from cash capital. The obligation arises at the moment of obtaining income from investments or savings.
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