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Poland proposes tax-free investment accounts for households

05.08.2025 14:00
Poland's finance minister on Tuesday unveiled plans for a new tax-free investment account that would allow individuals to invest up to PLN 100,000 (EUR 23,500, USD 27,000) without paying capital gains tax.
Polish Finance Minister Andrzej Domański.
Polish Finance Minister Andrzej Domański.Photo: Przemysław Chmielewski/Polskie Radio

The proposed Personal Investment Account (OKI) is aimed at encouraging household savings and long-term investment, Finance and Economy Minister Andrzej Domański told reporters.

Any investments above the PLN 100,000 threshold would be subject to a low, stable tax of 0.8 percent to 0.9 percent, significantly below the current 19-percent capital gains tax rate.

“Our proposal is simple: a tax-free investment account for up to PLN 100,000," Domański said. "It will give Polish households a chance to save and invest efficiently."

He added that the programme would be voluntary and is expected to launch in the second half of 2026.

The account would allow individuals to invest in regulated instruments including stocks, bonds, exchange-traded funds (ETFs) and other eligible assets.

Up to PLN 25,000 could be held in savings products such as deposits and government savings bonds.

The OKI model is inspired by Sweden’s Investment Savings Account (ISK), which has been in place since 2012, according to Domański.

"We reviewed systems across the European Union and concluded that the Swedish model best supports long-term household savings," he said, adding that around 40 percent of Sweden's adult population uses such accounts.

Domański also said that funds in the OKI accounts would be fully accessible at any time, with no withdrawal penalties, and that the proposal would undergo interministerial and public consultations before being finalised.

The government estimates the programme could reduce tax revenues by up to PLN 300 million in its first full year of operation, and expects inflows to the accounts to reach PLN 100 billion within the first three years.

Poland’s capital gains tax—commonly known as the "Belka tax" after former Finance Minister Marek Belka, who introduced it in 2002—applies to income from interest-bearing assets and securities. It stands at a uniform rate of 19 percent.

(gs)

Source: IAR, PAP