In recent weeks, we've covered the taxation of investments in stocks, bonds, derivatives, and cryptocurrencies. But is there a way to avoid tax on such investments? And do it legally? We'll discuss this in today's Taxes and Taxes.
1. Planning
Properly staggering transactions will help manage tax liability. For every investment asset, the tax base is income. This means the acquisition itself is tax-neutral. Selling after December 31st will result in income the following year, meaning tax will be due by the end of April of the following year. This deadline is "postponed" by 12 months compared to selling in the current year.
Another option for planning is cutting losses and generating costs. If an investment in a given asset is generating losses and we want to exit it out of concern that these losses will deepen, we can sell it at a loss in the current year. This reduces our income from profitable investments, thus reducing our tax liability. In the case of cryptocurrencies, we can also purchase additional assets. In this case (unlike with other instruments), the cost is accounted for in the year it is incurred, not the year of sale.
2. Change of tax residence
Relocating for at least six months to the country where your center of personal and economic interests is located can allow you to avoid tax in Poland. It's important to remember two things:
- on taxation in the country of the new tax residence – changing residence to a country with higher taxation will be like falling out of the rain into the gutter,
- Exit tax – this tax will occur if, as a result of a change of residence, Poland loses the right to tax assets worth more than PLN 4 million. However, in the case of personal assets, this limit applies only to all rights and obligations in a company that is not a legal person, company shares, stocks and other securities, derivative financial instruments, and participation in capital funds. This means that a change of tax residence will allow holders of cryptocurrencies to avoid tax in Poland, regardless of their value, as these are not subject to exit tax.
3. Retirement accounts
Planning allows you to postpone the tax payment or reduce it due to a decrease in profit. Changing your tax residency, however, is usually a logistical challenge that not everyone can afford. Special retirement accounts are a viable way to avoid the stock market tax. These accounts are designed for investing in stocks and bonds, but they are not a solution for those investing in derivatives and cryptocurrencies. However, they allow you to completely forget about taxes on interest, dividends, and sales.
Currently, in Poland it is possible to open three types of such accounts: Individual Retirement Account (IKE), Individual Retirement Security Account (IKZE), Pan-European Individual Pension Product (OIPE).
Individuals aged 16 and over can invest in an IKE. Funds accumulated in an IKE can be invested in stocks, Treasury bonds, and investment fund units. An IKE can also be used as a savings account. Annual contributions to an IKE are equivalent to three times the average projected monthly salary in the national economy for a given year. To benefit from the IKE tax exemption, the funds accumulated in the IKE must not be withdrawn until the age of 60 or until the age of 55, when pension entitlement is acquired, and the following conditions must be met:
- making payments to IKE in at least 5 calendar years, or
- making more than half of the deposit value no later than 5 years before the date the saver submits the withdrawal request.
IKZE, like IKE, is available to individuals aged 16 and over. The contribution limit is lower than for IKE, at 1.2 times the average projected monthly salary in the national economy for a given year, as defined in the Budget Act for individuals not running a business, and 1.8 times for individuals who are.
Profits from IKZE are not completely tax-exempt. They are subject to a preferential 10% tax rate. This tax is payable for the year in which the withdrawal occurs. However, if the withdrawal occurs before the age of 65 or no contributions have been made for at least five calendar years, then the profits are taxed at the standard 19% rate.
The key difference between IKE and IKZE is that the amount contributed to IKZE in a given year can be deducted from income (revenue for flat-rate taxpayers). This relief reduces income tax for the current year.
People aged 15 and over can invest in PEPPs. The contribution limits and basic rules governing PEPP investments are the same as those for IKEs.
A non-business person with both an IKE, IKZE, and OIPE account can contribute a total of PLN 62,445.60 in 2025. The income generated will not be taxed in 2025. Additionally, such a person will be able to deduct PLN 10,407.60 from their income (revenue) for 2025 (IKZE tax relief). For business owners, these amounts will be higher.
This article is for informational purposes only and does not constitute legal advice.
Legal status as of March 3, 2025
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