Dividend Tax Calculator
Report foreign dividends in PIT-38 (section G). Automatic deduction of withholding tax (WHT) up to the double tax treaty limit and currency conversion at NBP rates.
Calculate dividend tax
Import dividends from IBKR (Flex Query), Revolut, XTB and other brokers. Automatic WHT deduction in section G of PIT-38.
Import dividends from your brokerDividend tax calculator — how does it work?
Our calculator computes the tax on foreign dividends. You import a broker report (Flex Query from IBKR, CSV from Revolut, report from XTB) — the system recognises dividends and withholding tax, converts currencies at the NBP average rate from the last business day before the payment date (art. 11a ust. 1) and calculates the tax due. Result: ready-made amounts for section G of the PIT-38 form, with the deduction limit for each country.
How does dividend tax work?
In Poland, dividends are subject to a 19% flat-rate tax (art. 30a ust. 1 pkt 4 of the PIT Act). On dividends from Polish companies, the tax is collected by the withholding agent (płatnik) — the brokerage house or the company — and that completes the settlement. You settle foreign dividends yourself in section G of the PIT-38 form.
Dividend settlement flow
Where do you report foreign dividends in PIT-38?
You report foreign dividends in section G of the PIT-38 form. NOTE: field G.47 is the CALCULATED TAX (19% of the revenue from foreign dividends and interest, art. 30a), NOT the dividend amount! This is the most common mistake in reporting dividends.
| Field | Name | Description |
|---|---|---|
| G.47 | Flat-rate tax calculated | 19% × revenue from foreign dividends and interest (art. 30a). This is the TAX, not the dividend amount! |
| G.48 | Tax paid abroad | WHT withheld abroad, deductible at most up to the rate in the double tax treaty (art. 30a ust. 9). |
| G.49 | Difference | G.47 minus G.48, rounded to full złoty — the amount to pay in Poland |
You do not attach PIT/ZG because of dividends — that attachment concerns only income under art. 30b (sale of securities, derivatives and virtual currencies abroad). The calculator splits dividends by country solely to calculate the WHT deduction limit for each of them.
Foreign dividends — double taxation
With dividends from abroad, the company's country usually collects withholding tax (WHT — Withholding Tax). For example, the USA withholds 15% (with the W-8BEN form), Germany 26.375%, the United Kingdom 0%. You deduct the tax paid abroad in PIT-38 (field G.48), but at most up to the rate in the double tax treaty with that country and no more than the Polish tax on that dividend (art. 30a ust. 9).
Example: an Apple dividend via Interactive Brokers
Step 1: You receive a dividend. Let's assume a payout of $0.96 per share (example amount). You have 100 shares → $96.00 gross.
Step 2: Withholding tax is deducted. IBKR withholds 15% WHT (because you have filed W-8BEN): $96.00 × 15% = $14.40. $81.60 net is credited to your account.
Step 3: Conversion to PLN at the NBP average rate from the last business day before payment — let's assume 4.0520. Gross revenue: $96.00 × 4.0520 = 388.99 PLN. WHT paid: $14.40 × 4.0520 = 58.35 PLN.
Step 4: Polish tax. G.47: 388.99 PLN × 19% = 73.91 PLN. G.48 (WHT within the 15% of the US treaty): 58.35 PLN. G.49: 73.91 − 58.35 = 15.56 PLN → after rounding, 16 PLN to pay in Poland.
Summary: in total you hand over 19% of the dividend — 15% in the USA and 4% in Poland. Without W-8BEN the USA would withhold 30% ($28.80), and in Poland you can deduct at most the 15% under the treaty — so you would still pay an extra 4% and lose 34% in total. You can recover the excess over 15% only from the US tax authority (IRS).
Withholding tax on dividends and the deduction limit in Poland
With the W-8BEN form; without it 30%. Deduction limit in Poland: 15%
25% tax + 5.5% solidarity surcharge. Deduction limit in Poland: 15% — you can recover the excess in Germany
No withholding tax on dividends
Deduction limit in Poland: 15%
Deduction limit in Poland: 15% — you can recover the excess in Ireland
Deduction limit in Poland: 15% — you can recover 20 percentage points in Switzerland
Rate for individuals. Deduction limit in Poland: 15%
Deduction limit in Poland: 15% — you can recover the excess in Norway
Listed companies. Deduction limit in Poland: 10% — you can recover the excess in Japan
With the NR301 form usually 15%. Deduction limit in Poland: 15%
The W-8BEN form — what is it and why do you need it?
W-8BEN is a US form that you submit to your broker (NOT to the tax office). It reduces the withholding tax on US dividends from 30% to 15% under the double tax treaty between Poland and the USA. The form is valid until the end of the third calendar year after the year it was signed — after that it must be renewed. Most brokers that give access to US shares collect W-8BEN electronically, when you open an account or in the client panel.
Polish vs foreign dividends — key differences
Polish dividends
- The withholding agent (płatnik — the brokerage house or the company) collects 19% tax on payment
- That completes the settlement — the dividend goes neither into PIT-8C nor into PIT-38
- Exception: if the withholding agent did not collect the tax, you report it yourself (PIT-38, pos. 46)
Foreign dividends
- The company's country collects withholding tax (WHT) under its own rules
- You report the 19% tax yourself in PIT-38, section G — without PIT/ZG
- You deduct WHT in field G.48, at most up to the rate in the double tax treaty
ETF dividends — accumulating vs distributing
Distributing ETFs (Dist) pay dividends to your account — you settle them like ordinary dividends (19%, section G of PIT-38). Accumulating ETFs (Acc) reinvest income inside the fund — the reinvestment itself is not a taxable event for you. You pay tax only when you sell the ETF units (section C/D, not G). Many European ETFs (e.g. iShares, Vanguard UCITS) come in both versions — check for 'Acc' or 'Dist' in the name.
Do you need PIT/ZG for dividends?
No. You attach PIT/ZG only for income under art. 30b earned abroad — from the sale of securities, derivatives and virtual currencies. Foreign dividends and interest (art. 30a) are reported only in section G of the PIT-38 form.
How to settle dividends from Interactive Brokers — step by step
Log in to IBKR Client Portal
Go to Reports → Flex Queries
Create a Flex Query with the Trades and Cash Transactions sections (dividends and withholding tax)
Export a CSV for the period 01.01–31.12 of the given tax year
Import the file into the Podatek Giełdy calculator
The system will recognise dividends, deduct WHT up to the treaty limit and prepare section G of PIT-38
How to settle dividends from Revolut
In the Revolut app, download the investment account statement for the given tax year in CSV format. Import the file into the calculator — the system will recognise dividends and calculate the tax. Revolut withholds WHT on US dividends automatically (15% with W-8BEN or 30% without it).
Frequently asked questions
How much is the tax on dividends?
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19% flat-rate tax (art. 30a ust. 1 pkt 4). On Polish dividends it is collected by the withholding agent (płatnik) on payment. On foreign ones you settle it yourself in section G of PIT-38, deducting the tax paid abroad.
Do Polish dividends require PIT-38?
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Usually not. The withholding agent (płatnik) — the brokerage house or the company — collects 19% tax on payment and that completes the settlement: such dividends go neither into PIT-8C nor into PIT-38. Exception: if the withholding agent did not collect the tax, you report it yourself in PIT-38 (pos. 46). Dividends are also not combined with a stock-market loss.
How do I deduct withholding tax (WHT)?
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You enter the tax paid abroad in field G.48 of PIT-38. The deduction is limited to the rate in the double tax treaty (e.g. 15% for the USA) and cannot exceed the Polish tax on those dividends (art. 30a ust. 9). The calculator applies this limit separately for each country.
Are ETF dividends taxed?
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Yes. Distributions from distributing ETFs are subject to the same 19% tax as dividends from shares (art. 30a). If the ETF is foreign, you report them in section G of PIT-38 — PIT/ZG is not needed.
What is the W-8BEN form?
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W-8BEN is a US form that reduces the withholding tax on US dividends from 30% to 15% (under the double tax treaty). You submit it to your broker, not to the tax office.
What is a return of capital (zwrot kapitału) and is it taxed?
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Some foreign companies and funds label part of a payout as a return of capital. The calculator treats such a payout as revenue from a share in profits (art. 24 ust. 5) and reports it in section G of PIT-38 together with dividends. If you have a document showing that the payout actually returned contributed capital, consult a tax adviser on how to classify it.
Are reinvested dividends taxed?
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It depends on the type of ETF. In distributing ETFs — YES, the dividend is taxed when it is paid out. In accumulating ETFs — NO, you pay tax only when you sell the units.
How does the WHT deduction limit work?
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You can deduct foreign tax at most up to the rate in the double tax treaty with the given country (art. 30a ust. 9) — for the USA that is 15% — and no more than the Polish 19% tax. You cannot deduct the excess in Poland; you can recover it only from the foreign tax authority. That is why W-8BEN (which reduces US WHT to 15%) is key — then you can deduct all the WHT you paid.