The Ministry of Finance has submitted a proposition concerning changes in the rules of rounding the basis for taxation and the tax on income from bank interest (the so-called Belka’s tax). The change is to make it impossible to avoid taxation on savings from bank deposits, which will lead to elimination of the currently popular one-day deposits. The tax will be payable irrespectively of the type of a deposit and the amount of funds deposited.

The changes will consist in that the basis for taxation and the tax will be rounded up. At the moment the endings of the amounts are rounded to full amounts in zloties in such a way that the amounts lower than 50 gr are omitted and the amounts equal to or exceeding 50 gr are rounded up to full zloties. These rules are to apply also to interest or discounting on securities.

Contact person: Małgorzata Lewandowska, mlw@pnplaw.pl