Poland Senate passes Personal Investment Accounts law, adds new asset tax

The Senate of Poland approved the Personal Investment Accounts (OKI) act on 22 July 2026, removing the 19 % capital‑gains tax known as the Belka tax for gains held in these accounts up to set limits. The bill passed without amendments, with 60 votes in favour, 23 against and two abstentions, and now awaits the president’s signature.

The legislation creates an annual levy on the value of assets that exceed the exemption thresholds – 25 000 PLN for savings‑type products and 100 000 PLN for market‑linked investments. The first‑year rate is set at 0.85 % and will later be tied to the National Bank of Poland’s reference rate, potentially reaching 19 % of the excess value. Accounts are scheduled to become operational on 1 January 2027. The government estimates the new tax will generate less than 1 % of asset value and could channel about 25 billion PLN to the Warsaw Stock Exchange by 2030 and 74 billion PLN by 2040.