Belka’s tax to be changed. The deputy minister gives the rates and dates

“Changes to the Belka tax will probably be possible from January 1, 2024, but it is possible that they will be introduced earlier, so I’m not saying that this is the final date. It all depends on how the banks respond, because they are the operators, who see this tax, “Deputy Finance Minister Artur Soboń told TVP 1 on Wednesday (2 November).

According to the deputy minister, this tax would become a progressive tax. Those who achieve the highest profits would pay 1 percent. tax more, i.e. not 19 but 20 percent, while annual profits up to 10 thousand. PLN would be exempt from taxation.

Initially, the rate of the so-called Belka’s tax (introduced during Marek Belka’s rule in 2002) was 20 percent. and it included only interest earned on bank deposits. Now his rate is 19 percent. and is payable in the event of a profitable sale of shares or investment funds, as well as when a bank deposit is due.

“We would like to propose a budget-neutral solution, ie one in which this small group of people earning the most in the form of capital gains – mainly on the stock exchange, of course not in banks – would have 1 percent more of this tax,” Soboń said. “On the other hand, all the rest who invest in the stock market, but most of all those who have deposits and deposits in banks [byliby] fired […] on capital gains tax, added the deputy finance minister.

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