Capital Gains Tax – Calculation and Amount

[shukla7789]

If you have made a profit from capital gains, such as selling shares on the stock exchange, you are required to pay tax. This tax is called the Belka tax after the minister who introduced it. Although the correct name is capital gains tax. You will learn how to calculate it and what its amount is. You are not always required to pay it. I will tell you in what situations you should settle and share your profits with the tax office. This tax is not paid by entrepreneurs, because it applies only to individuals; in some situations it must be declared in the annual tax return (PIT).

Capital Gains Tax
The principles for calculating the tax are regulated by the Personal egypt whatsapp database Tax Act, Articles 30a and 30b of the Act of 26 July 1991. The tax was introduced in Poland by the then Minister Marek Belka in 2002.

The Belka tax covers the following forms of earning :

Interest and discount on securities, e.g. shares.
Profits earned in capital funds, e.g. investment funds.
Interest on funds in bank accounts , savings accounts, deposits and other savings deposits in banks. With a few exceptions.
Dividend income from companies with legal personality. For example, from joint-stock companies listed on the stock exchange.
Gains from the exercise of rights to financial derivatives.
Belka tax rate
opinions-ekonto-mbank
scx.com

The tax on the above-mentioned capital gains is levied at a fixed rate of 19%. There is no possibility of changing the Belka tax rate. Although until 2012 banks had a way to avoid paying it. Savings accounts with daily interest capitalization appeared in the offer. If their amount did not exceed 50 full groszy, the tax rate was rounded down to full złoty. After the amendment of the regulations, banks rounded to full groszy. This resulted in the withdrawal of daily interest capitalization from bank offers in Poland.

Banks will pay tax for you
In financial institutions such as banks, tax is calculated and collected automatically. You do not have to worry about calculating and paying it. Your bank will do it for you. You do not have to declare earnings from deposits and savings accounts in your annual tax return (PIT). You also cannot include the tax paid by the bank in the costs of obtaining income.

You settle your stock market profits yourself
If you invest in the stock market, you are required to settle capital gains yourself. You do this in your annual PIT-38 tax return for the previous calendar year. The same 18% tax rate applies to income, understood as revenue minus costs of obtaining revenue (brokerage commissions are included).

You will receive the transaction settlement (on the PIT-8C form) from your brokerage house by the end of February . It usually arrives free of charge by post to your correspondence address. In the same way, you also settle income earned while investing in bonds and on the Forex market.

Dividends will be settled by the broker
cash-calculator
pixabay.com

By owning shares, you may be entitled to a dividend. This is a form of sharing the company's profit with its shareholders. This form of income is also subject to an eighteen percent capital gains tax. However, in this case, the dividend tax will be automatically deducted by the brokerage house. You will receive the amount reduced by the 19% Belka tax.