Find general guidance about taxes and requesting tax statement when using Wise Interest.
When you turn on Interest, you’re investing in units in an accumulating money market fund. You can see more information about the funds here.
If you're a tax resident in Poland, you may need to pay income tax on your Wise fund income.
Income Tax can become due when you dispose of units in the fund and you realise a gain — through spending, sending, converting or simply moving money within Wise or to an external account. This will trigger Wise to sell units in the fund, known as disposing.
There may also be a solidarity tax obligation on income derived from disposal of fund units.
'Exit tax' may also be due and is derived on income from unrealised profits under certain cases for a Polish tax resident (in the event that you move to live in a different country).
Filing a tax return
Polish tax residents may need to report their income and gains realised from the fund in their annual tax return.
You can find more information at the Polish Ministry of Finance website.
If you're a sole trader using Wise Interest passively, the guidance above may be elected to apply to you.