Poland to launch tax-free investment accounts
The Polish government is planning to introduce Personal Investment Accounts (OKI) that will allow for investing up to PLN 100,000 (EUR 23,394) without the need to pay the capital gains tax.
Finance Minister Andrzej Domanski announced the new initiative at a press conference on Tuesday.
"We're offering the Personal Investment Account, with PLN 100,000 to be tax-free," Domanski said. "The account will enable Polish households to save efficiently, to invest efficiently without incurring the capital gains tax to the amount of PLN 100,000."
According to Domanski, funds in the OKI can be invested in bank deposits, stocks, bonds or exchange-traded funds (ETFs), but the amount that can be invested in deposits and Treasury bonds without tax will be capped at PLN 25,000 (EUR 5,849).
Assets exceeding PLN 100,000 will be taxed at "a low, stable rate... below 1 percent," Domanski added.(PAP)
jd/ jch
