Treasury Bonds for a Sole Proprietorship (JDG) in Poland (2026)

Treasury bonds are a safe way to park capital. But in a sole proprietorship (JDG), you need to know how personal income tax (PIT) applies to the interest — and what the Belka tax is.

In this guide, I explain the rules for treasury bonds in a sole proprietorship (JDG — a Polish registered business run by one individual) in Poland in 2026.

Types of treasury bonds

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• OTS (3-month) — variable interest
• OK (2-year) — fixed interest
• TOZ (3-year) — fixed
• DOA (4-year) — fixed
• TOS (10-year) — fixed, retirement
• EDO (10-year) — retirement, fixed
• COI (4-year) — inflation-indexed
• ROS (10-year) — fixed
• ROR (12-year) — retirement
• ROS10 (10-year) — retirement

Belka tax

Interest on bonds is taxed with the Belka tax (19%) — a flat capital-gains tax introduced in Poland in 2002:

• Gross interest → 19% lump-sum tax withheld
• Net interest = gross interest × 81%

Exemption:

• EDO and TOZ (retirement bonds) — tax deferred until payout (after age 60)
• Retirement accounts (IKE, IKZE) — exemption from the Belka tax

Bonds and a JDG

Can a business buy bonds?

Yes. Bonds are a capital investment. But:

• On the tax scale / flat tax — interest is capital income (19% Belka tax)
• On the lump-sum tax (ryczałt) — interest is capital income (19% Belka tax), independent of the lump-sum tax

Does interest increase lump-sum-tax revenue?

No. Bond interest is capital income — taxed at 19% Belka tax. It is not included in business revenue (lump-sum tax).

FAQ

Is interest taxed on the lump-sum tax (ryczałt)?

Yes — 19% Belka tax. Independent of the lump-sum tax.

Can I defer the tax?

Yes — retirement bonds (EDO, TOZ) allow deferral until age 60.

Are bonds safe?

Yes. Guaranteed by the State Treasury.

Need help?

I run sole-proprietorship accounting — interest, Belka tax, bonds, individual retirement accounts (IKZE). From 49 zł + VAT per month.

Write to [email protected] or visit oxyok.com/pl.

Note: Bond interest: 19% Belka tax (lump-sum). Retirement bonds (EDO, TOZ) — tax deferral. Before making a decision, consult an accountant.