Bank tax in Poland

Poland needs a bank tax as in our system banks may earn profits in the amount of 16 billion PLN. The government expects levy payments of about 6 billion PLN, this is a pretty simple and efficient solution.

A specialist from a Krakow university noted that introduction of bank tax with a rather high rate of around 0.44% in connection with possible interest rates cut made by Monetary Policy Council and the consequences of introducing an act on aid for CHF mortgage payers may lead to a situation when the bank system in Poland may be endangered and bank profits fall to nil.

Such situation calls for thorough observation and detailed financial analyses. Still, rating agencies need to observe and rate the economy of a given country objectively. Although the risk is substantial, tax changes should be introduced in our country. This will be better for our economy in the long run.

Such solutions as bank tax are used in EU countries, which is why Poland does not stand out. However, 0.44% is one of the bigger rates. Banks will certainly look for ways for tax optimization with respect to the bank tax. Most probably there will be attempts to move the bank assets to other countries for tax reasons.

You do not need to fear that the banks will transfer the costs related to bank taxes to clients. Competition among banks in Poland is very big, so none of the banks will take the risk of losing clients. Insurance companies, which have very large profits, have also been charged with the bank tax.

On 30 December 2015 the Sejm passed the bank tax act, which is to come into force as soon as 01 February 2016. According to the act, among the institutions that are to be taxed are: banks, insurance companies, savings and credit unions and loan companies.

For banks and savings and credit unions the amount of assets free of tax is to be 4 billion PLN, while for insurers 2 billion PLN, and for loan companies 200 million PLN.

What This Means for Businesses in Poland

Tax policy changes in Poland have direct implications for both domestic and foreign-owned businesses. Companies operating in Poland must stay informed about regulatory developments to optimize their tax position and maintain compliance. The Polish tax system includes CIT (19% standard, 9% for small taxpayers), VAT (23% standard rate with reduced rates of 8% and 5%), and various sector-specific levies.

For international entrepreneurs and investors, understanding the Polish tax landscape is essential for business planning. Poland offers several attractive incentives including the Polish Investment Zone (up to 15 years of CIT exemption), R&D tax relief (up to 200% deduction), and the IP Box regime (5% effective CIT rate on qualified intellectual property income). Professional tax advisory can help identify the most beneficial structure for your specific situation.

The interplay between Polish domestic tax law and international tax treaties is particularly important for foreign-owned entities. Transfer pricing regulations, withholding tax provisions, and anti-avoidance rules (GAAR) require careful navigation to ensure both compliance and optimization.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our tax advisory services in Poland, or contact us for a free consultation.