Sejm Approves Personal Investment Accounts: A Tax-Free Shift for Retail Investors

Poland’s parliament has passed the Personal Investment Account (OKI) act, a government initiative set for 2027 that exempts up to 100,000 PLN in investment assets from capital gains tax to boost domestic capital.

A Major Overhaul for Polish Capital

Finance and Economy Minister Andrzej Domański announced that the Sejm has officially passed the legislation for Personal Investment Accounts (OKI). The minister described the move as one of the most significant changes for individual investors in years and a cornerstone of the government’s strategy to build domestic capital to fuel the Polish economy.

Key Provisions and Implementation Timeline

Under the new law, OKI accounts are scheduled to take effect on January 1, 2027. The framework provides tax relief on assets denominated in Polish zloty: investment assets, such as stocks and investment fund units, will be exempt from the “Belka tax” up to 100,000 PLN, while savings assets, such as bonds and deposits, will be exempt up to 25,000 PLN.

Addressing Limits and Future Projections

Assets exceeding these designated limits will be subject to a new tax on their value, which the government states will not exceed 1 percent. This tax will be calculated using a detailed algorithm based on daily valuations and account balances. Officials estimate the initiative could channel approximately 25 billion PLN into the Warsaw Stock Exchange by 2030, rising to 74 billion PLN by 2040.