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TAX ON DEPOSIT INTEREST IN POLAND


heywood100 5 | 5
17 Oct 2010 #1
I am from Ireland but living in Lodz. Love the place.

Anyhow, I have bank accounts with ING here and they are quoting 3.25% on Euro deposits.

Do you know if Polish banks deduct tax from the rates they quote or what hte tax situation is generally?

Thanks
Zed - | 195
17 Oct 2010 #2
Yes, all banks withhold 19% tax on interest at source. What you see advertised is gross interest rate.
tipo3s - | 3
20 Oct 2010 #3
At the end of the year you will receive a letter stating the amount that was remitted to the Polish tax office, even if you are not a Polish citizen or resident. This is proof of the income and that it has already been taxed in the EU, in case you need this for the future.
InWroclaw 89 | 1,915
24 Mar 2014 #4
even if you are not a Polish citizen or resident

Not all do --I can think of at least one bank that will not if they have you on record as not tax resident. Unless you change your tax status at their bank, they don't issue a certificate, or so they told me

My question is this: for interest earned on deposits (savings) in Poland during the previous tax year (for example 1 Jan 2013-31 Dec 2013) does this interest have to be declared on any PIT (or any other) tax return to the Poland tax office along with any other income earned in Poland during that tax year? My accountant said no because tax is deducted by the bank at 19% anyway. But that doesn't sound like the correct procedure because what if the tax office needs to adjust a person's tax band up or down -- surely they'd need to know what interest you received and what tax you already paid. (In the UK, you must declare both gross (untaxed) and nett (taxed) interest to the UK tax office on your return if you submit one.)


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