Capital gains tax

Trigon Dom Maklerski S.A. kindly informs that for those of you who sold financial instruments (securities or derivatives — futures and options) in 2024 for consideration, it has prepared Information on income from other sources and certain income from capital (PIT-8C) for 2024. Information PIT-8C for 2024 will be sent to By registered letter or by electronic means no later than the end of February 2025.

Information PIT-8C was prepared by Trigon Dom Maklerski S.A. for the period from 1 January 2024 to 31 December 2024 on the basis of Article 39 (3) of the Act of 26 July 1991 on personal income tax (Journal of Laws of 21 February 2024.226, as amended) (hereinafter the Act), subject to the following rules.

1) The PIT-8C information has been prepared together for all the Client's accounts maintained by Trigon Dom Maklerski S.A., including accounts of which the Client is a co-owner.

2) Information PIT-8C includes income obtained by the Client on the basis of transactions registered in the Client's accounts with Trigon Domu Maklerskim S.A., including transactions concluded outside the regulated market and relating to instruments not admitted to trading on the regulated market (“non-public market”).

3) In the case of a marriage account, each of the spouses receives Information PIT-8C, taking into account half of the income realized on the account and the income (loss) achieved. Each of the spouses is obliged to file a tax return and pay any tax.

The PIT-8C information is only and exclusively information in the strict sense of the word, it does not constitute a document determining the amount of tax liabilities of the owner of the account to which it relates. According to Article 30b of the Act, income tax on income obtained in 2024 from the sale of securities or derivative financial instruments for consideration and from the exercise of rights arising therefrom is 19% of the income received. This income shall not be combined with other income received by the taxpayer. The taxpayer is obliged to:

— prepare and submit a separate tax return on the amount of earned income (loss incurred) PIT-38 to the competent tax office by the end of April 2025,

— payment of any possible tax.

Part D of PIT-8C shows income from transactions that are taxable (for which the disposal occurred in 2024), regardless of the date of acquisition of the financial instruments. The costs of obtaining income included: the purchase price of financial instruments and commissions and fees charged by Trigon Dom Maklerski S.A. in connection with the sale or acquisition of these financial instruments. The costs of obtaining income did not include in particular: loan costs for the acquisition of financial instruments, stamp and notarial fees and fees and commissions charged by other financial institutions. If Trigon Dom Maklerski S.A. could not determine unequivocally the amount of the costs of obtaining income on the basis of the documents in its possession, they were included in the amount of 0 (zero).

Information PIT-8C does not include any exemptions from tax on certain income pursuant to Article 21 (1) (105) of the Act (income obtained from the disposal of shares in a capital company, securities and shares in capital funds received by donation — in the part corresponding to the amount of inheritance and gift tax paid).

Part E shows income from sale for consideration in 2024 of securities for which Trigon Dom Maklerski S.A. could not unequivocally determine whether they meet the conditions set out in Article 19 of the Act of 12 November 2003 amending the Personal Income Tax Act and certain other acts (Journal of Laws No. 202, item 1956, as amended). The client should independently analyze which of these revenues should be shown in the PIT-38 tax return for 2024.

The PIT-8C Information does not disclose income from the sale for consideration of securities referred to in Article 19 of the Act of 12 November 2003 amending the Personal Income Tax Act and certain other Acts (Journal of Laws No. 202, item 1956, as amended).

Information PIT-8C contains data on revenues and costs of obtaining income, which were known and are available to Trigon Domov Maklerski S.A.

It should be emphasized that when drawing up the PIT-38 statement, you may, on the basis of the information and documents in your possession, take into account other incurred acquisition costs and costs of obtaining income, and in case of obtaining other income, not included in the attached PIT-8C Information, referred to in Article 30b (2) of the Law, they should be included in the submitted PIT-38 return.

Can I receive more than one PIT-8C form?

YES
The form contains information about the income received on all accounts in a single financial institution. If the Client has made transactions in different institutions, he will receive a PIT-8C form from each of them. The tax return must show the totals of the amounts from the same items on the individual PIT-8C forms.

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Should PIT-8C be taken to the Tax Office?

NOT
This form contains information for the taxpayer about the income obtained, among others, from the sale of securities for consideration. Based on it, the taxpayer should file a tax return form PIT-38 with the competent Tax Office.

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Are commissions and interest on loans for the purchase of securities included in the column “Costs of obtaining income” in Part D of the PIT-8C form?

NOT
Trigon Dom Maklerski S.A. did not show in this column the cost of loans for the purchase of securities sold in 2024. To obtain information about the cost of such a loan, you should ask the bank that granted the loan to issue an appropriate certificate. It is also possible to show these costs in the tax return on the basis of an extract from the cash account for 2024 received from Trigon Domu Maklerskiego S.A. from the cash account.

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Does the column “Costs of obtaining income” in Part D of PIT-8C include commissions on transactions for the sale and purchase of securities?

YES
The costs of obtaining income include the commission paid by the Customer both on the transaction of the sale of securities and the purchase of these securities sold.

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Do the revenues and costs of obtaining revenue reported in items 27 and 28 of Part D of PIT-8C, respectively, include the values of the disposal and acquisition of derivatives - futures and options?

YES
The income and costs of obtaining income shown under these items consist of the values of derivative instruments — futures contracts and options entered into on the derivatives market.

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Can Part D of PIT-8C show zero cost of acquiring securities?

YES
This situation occurs if Trigon Dom Maklerski S.A. could not determine without dispute the costs of acquiring these securities (e.g. due to their acquisition in another brokerage office, on the basis of a civil-law contract).

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What income is indicated in Part E (item 37) of the PIT-8C form?

In the case of PIT-8C forms submitted by Trigon Dom Maklerski S.A. for 2024, this item shows income from the sale of securities for consideration and the exercise of the rights arising therefrom, in respect of which Trigon Dom Maklerski S.A. is unable to determine whether they are taxable or not subject to taxation pursuant to Article 19 of the Act of 12 November 2003 on amendment of the termination personal income tax and certain other acts (Journal of Laws No. 202, item 1956, as amended). A taxpayer who has documents allowing the classification of income as exempt from tax should independently make the appropriate adjustments and not show this income in the tax return.

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Is the income from the sale of NFI shares obtained from the exchange of PŚU (before 01.01.2010) exempt from income tax if PŚU were acquired outside the stock exchange?

NOT
In such a case, they do not meet the requirement laid down in Article 19 of the Act of 12 November 2003 amending the Personal Income Tax Act and certain other acts (Journal of Laws No. 202 item 1956, as amended), since the acquisition in particular did not take place on the basis of a public offer or on a stock exchange or in a regulated over-the-counter secondary public trading of course.

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Is there a special tax exemption on income from the sale of NFI shares?

NOT
The previously applicable Article 21 (1) (42) of the Personal Income Tax Act was repealed by Article 2 of the Act of 30 March 2012 on the Repeal of the Act on National Investment Funds and Their Privatization and on Amendments to Certain Other Acts (Journal of Laws 2012, item 596).

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In the case of the acquisition of shares by inheritance or donation, can the market value of those shares be accepted as of the date of acquisition?

If securities were acquired by way of a decrease in costs, their acquisition is taken into account in the amount incurred by the testator.
If the securities were acquired by donation, then in this case the acquisition costs are zero PLN. Taxable income from the disposal of such securities may be deducted by the amount of inheritance and gift tax paid.

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Does the divesti/acquisition in the case of transactions made on the exchange take place on the day of the transaction?

NOT
According to the Act of 29 July 2005 on trading in financial instruments, the disposal/acquisition of securities takes place at the time of posting to the securities account. In the case of transactions carried out on the Warsaw Stock Exchange S.A., the transfer of ownership of the shares/bonds to the buyer takes place after two working days from the date of conclusion of the transaction, after settlement of the transaction in the National Depository of Securities S.A.

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