President of the WSE: OKI will attract individual investors to the stock exchange

Personal Investment Accounts will attract individual investors to the stock exchange – said Tomasz Bardziowski, president of the Warsaw Stock Exchange, on Thursday at the European Economic Congress. In his opinion, OICs can be a huge opportunity for the domestic capital market.

The head of the WSE took part in a panel on the capital market. Bardziowski pointed out that the launch of Personal Investment Accounts (OKI) is planned for January next year and – according to announcements – it should not be delayed.

As he said, the introduction of OIC is intended to eliminate differences in the tax treatment of investments, including: between the real estate market and the capital market. In his opinion, this may encourage not only retail investors, but also investment funds to be more active on the stock exchange.

Bardziowski pointed out that currently a significant part of the capital does not go to the public market. He recalled that last year, approximately PLN 50 billion flowed into investment funds, but – after excluding funds from PPK – practically no part of these funds was invested on the stock exchange.

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– We hope that OKI will attract this investment capital – he noted. He added that the implementation of the program could be a “huge positive” change for the market.

Personal Investment Account is a voluntary, new account for natural persons, planned by the Ministry of Finance; is to enable investing up to PLN 100,000. PLN net of Belka tax, i.e. 19%. capital gains tax.

According to the government's proposal, OIC would enter into force on January 1, 2027; It was previously planned that they would start operating from July 1 this year. Investment assets denominated in PLN – e.g. shares and units of investment funds – would be exempt from Belka tax up to the amount of PLN 100,000. PLN, while savings assets (e.g. bonds and deposits) – up to PLN 25,000. zloty.

All assets accumulated in OKI and exceeding the limits would be subject to a new tax on their value. The government argued that the tax would not exceed 1%. and would be calculated according to a detailed algorithm, taking into account daily valuations, deposit balance and account holding time.

The aim of Personal Investment Accounts is to encourage Poles to invest. In the regulatory impact assessment of the project implementing this solution, it was estimated that the inflow of new funds to the Warsaw Stock Exchange may reach approximately PLN 25 billion by 2030 and PLN 74 billion by 2040. (PAP)

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