Belka tax — 19% on capital gains
Definition
"Belka tax" is the colloquial name for the 19% flat tax on capital income in Poland — including gains from selling shares and ETFs, dividends and interest (e.g. on deposits and bonds). The name comes from the minister under whom it was introduced.
What it means in practice
- Ordinary brokerage account: you pay 19% on realised gains. With a Polish brokerage house you usually receive a PIT-8C form, which makes the annual return easier. With a foreign broker there is usually no PIT-8C — you file on your own.
- Deposits and savings accounts: the bank usually withholds the 19% on interest automatically (you don't file it yourself).
- IKE / IKZE: these are "wrappers" that change this picture — on IKE the gain can be exempt from Belka tax once conditions are met, while IKZE gives a deduction of contributions from income and a preferential 10% on withdrawal.
Why it affects your choice
The tax is the same regardless of broker, but the form of settlement differs (PIT-8C at a Polish brokerage vs filing on your own at a foreign one). That is a real difference in convenience, visible in the investing comparison (the "Settlement / PIT" field).
How to check this in our comparison
The "Settlement / PIT" field for each broker in the Investing lens.
Watch out
How you settle depends on your tax residence and double-taxation treaties — especially if you also have income abroad. Confirm with a tax adviser.
We do not give tax advice. Tax consequences depend on your situation and residence — confirm with an adviser or the tax office. WTP Finance is for information only.