President signs law for tax-free investment accounts

Polish President Andrzej Duda has officially signed into law a new piece of legislation that establishes tax-free Personal Investment Accounts (OIK). This significant financial reform is set to take effect at the beginning of the upcoming year, aiming to encourage savings and investment among Polish citizens.

The new "Belka tax" exemption will apply to investment assets held within these dedicated accounts. Individuals will be able to accumulate up to 100,000 Polish zloty in investment value without incurring the capital gains tax, commonly known as the "Belka tax." This measure is designed to make investing more accessible and attractive.

Furthermore, the law extends a similar tax benefit to savings accounts. Polish citizens will be able to hold up to 25,000 Polish zloty in savings accounts, with the interest earned being exempt from taxation. This dual approach aims to incentivize both long-term investment and prudent saving habits across the population.