The income tax on capital gains is charged upon the execution of a redemption order for participation units.
The income tax on capital gains is charged upon the execution of a conversion order i.e. transfer of assets from one sub-fund into another.
In the case of redemption orders filed by the Participant, the tax of 19% is charged exclusively on the amount of profit yielded by the repurchased participation units.
The income from funds is not added to income from other sources, therefore the amount of tax withheld by the fund does not have to be disclosed in the annual tax return. The payer of the flat-rate tax is the fund.
In order to determine the tax obligations of individuals who are not residents of the Republic of Poland, it is necessary to consider the tax system in force in the country of their residence and the provisions of international agreements on avoidance of double taxation between Poland and the respective countries.
For the purpose of determination of the customer’s tax status, the customer should submit a certificate of residence which evidences the taxpayers place of residence for tax purposes, issued by a competent tax administration authority in the taxpayer’s country of residence.
Legal basis – Personal Income Tax Act (Art. 30a)
In the event of Participants who are legal entities, the tax on capital gains generated by Santander FIO or Santander Prestiż SFIO is not withheld.
Legal entities who are fund Participants are obliged to pay on their own the income tax on the profit realised upon the redemption of participation units.
The income tax rate applicable to entities subject to the Corporate Income Tax Act is 19%.
Legal basis: Corporate Income Tax Act
Detailed information about Santander FIO and Santander Prestiż SFIO funds, including the financial data, description of risk factors and information on fees related to participation in funds can be found in the Information Prospectuses and Tables of Fees available on SantanderTFI.pl and from the Fund Distributors.
The funds cannot guarantee achievement of the adopted investment objective or the expected return. Prior to making an investment decision, the Participant should review the fees charged by the sub-fund and take into account the potential tax imposed on the gains. The Participant has to take into consideration the possibility of losing at least part of the invested capital.