What is PIT-38?
PIT-38 is an annual tax return used to report income from capital gains. It is a mandatory form for all Polish tax residents who earned income from stock market investments, sale of shares, ETFs, cryptocurrencies, or dividends in a given year.
PIT-38 is part of the tax system in Poland and is subject to the Personal Income Tax Act. The capital gains tax rate is 19% (the so-called Belka tax) and is applied regardless of the amount of income.
Tip: Even if you incurred a loss, you should file PIT-38. A reported loss can be deducted from income in subsequent years.
Who must file PIT-38?
PIT-38 must be filed by all individuals who earned income in a given tax year from:
- Sale of shares listed on the stock exchange
- Sale of company shares
- Disposal of derivative financial instruments for consideration
- Exercise of rights from derivative financial instruments
- Disposal of virtual currencies (cryptocurrencies) for consideration
- Dividends from companies (in some cases)
Note: If you use foreign brokers (e.g., Interactive Brokers, Trading 212), you will also need the PIT-ZG attachment.
PIT-38 filing deadline
The PIT-38 return must be filed by April 30 of the year following the tax year. For example, the return for 2026 must be filed by April 30, 2027.
You can file the return through the e-Deklaracje system (electronically) or traditionally (on paper) at the tax office.
Note: Late filing of PIT-38 may result in financial penalties and interest. It is advisable to file the return early to avoid problems.
How to calculate PIT-38 tax?
Calculating PIT-38 tax consists of several steps:
- 1Gather all transactions: Export transaction history from all brokers for the entire tax year.
- 2Calculate income using the FIFO method: For each sale, match the oldest purchases (First In, First Out).
- 3Convert currencies to PLN: Convert all transactions in foreign currencies to PLN using NBP rates from the transaction date.
- 4Calculate tax: Income × 19% = tax to pay.
FIFO method - mandatory for PIT-38
FIFO (First In, First Out) is an asset disposal valuation method meaning that when selling, shares purchased first are settled first. It is the only method allowed for tax purposes in Poland.
FIFO example:
You bought XYZ shares in three tranches:
- January: 10 shares at 100 PLN = 1,000 PLN
- March: 10 shares at 120 PLN = 1,200 PLN
- May: 10 shares at 80 PLN = 800 PLN
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Dividends in PIT-38
Dividends are profit distributions from a company to its shareholders. In Poland, dividends are taxed at 19%, but the settlement method depends on whether they come from Polish or foreign companies.
Polish dividends
Dividends from Polish companies are settled by the payer. Tax is withheld at source (19%) and you do not need to report them in PIT-38. You receive the dividend already reduced by tax.
Foreign dividends
Foreign dividends require self-reporting. You must report them in PIT-38 along with the PIT-ZG attachment. Withholding tax (e.g., 15% in the USA) can be deducted from Polish tax.
Cryptocurrencies in PIT-38
In Poland, cryptocurrencies are treated as virtual currencies and are subject to taxation under PIT-38. Every sale, exchange, or use of cryptocurrency may generate income subject to 19% tax.
Cryptocurrency operations requiring reporting:
- Selling Bitcoin, Ethereum, and other cryptocurrencies
- Exchanging cryptocurrencies (e.g., Bitcoin for Ethereum)
- Using cryptocurrencies to purchase goods or services
- Staking and yield farming (rewards are income)
- DeFi operations (lending, borrowing, liquidity pools)
Cryptocurrency tax is calculated using the FIFO method - the first units purchased are sold first. The difference between revenue and acquisition cost constitutes income taxed at 19%.
Read the complete cryptocurrency guide →PIT-ZG - foreign income
PIT-ZG is an attachment to PIT-38 used to report income earned abroad. It is required when you use foreign brokers or receive dividends from foreign companies.
Note: If you use foreign brokers (Interactive Brokers, Trading 212, DEGIRO, etc.), you will need both PIT-38 and PIT-ZG. PIT-38 shows overall income, while PIT-ZG shows foreign details broken down by country.
How to fill in the PIT-38 form?
Filling in the PIT-38 form may seem complicated, but with the right data it is straightforward:
- 1Download the form: PIT-38 is available on the Ministry of Finance website or in the e-Deklaracje system.
- 2Enter personal data: First name, last name, PESEL, residential address.
- 3Enter revenue: Sum of all revenue from stock market transactions (in PLN).
- 4Enter costs: Sum of costs of revenue (purchase costs, commissions).
- 5Calculate income: Revenue - costs = income.
- 6Calculate tax: Income × 19% = tax to pay.
Tip: Our calculator automatically generates a summary ready to copy into the PIT-38 form. All values are already calculated and converted to PLN.
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Ready to file PIT-38?
Use our calculator to automatically calculate your tax. Just import files from your brokers - the system will automatically apply the FIFO method, convert currencies, and generate a summary ready to copy into PIT-38.