Belka tax
The colloquial name for Poland's tax on capital gains. Details depend on the account type and the instrument — always check the rules in force.
Definition
The Belka tax is the colloquial Polish name for the tax on capital gains — it covers, among other things, profits from selling stocks, ETFs and certain other instruments. The rate and the way it is settled depend on the account type and on the regulations in force; it is not a fixed “broker fee”.
Example
You sell an ETF listed on the GPW at a profit of 2,000 PLN in a brokerage account. You may be required to settle Belka tax on the capital gain in your annual tax return (often PIT-38) — the exact procedure depends on whether the broker issues a PIT-8C and on the rules in force at the time.
Anti-example / common mistake
Do not confuse the Belka tax with a broker commission or with the spread — it is a fiscal charge on profit, not a cost of entering a position. Another mistake: assuming that IKE/IKZE accounts and an ordinary brokerage account settle tax in exactly the same way.