Loan tax may be included in some cases. See what the tax amount is and in which cases it should be paid.


Tax on loans

Tax on loans

The Act of 9 September 2000 regarding the tax on civil law transactions tells us that loans are taxable. However, this is not about loans obtained from non-bank or banking companies. In that case, you probably wonder in what situations the calculation of tax on the obtained loan applies? The tax on the loan must be paid if we draw money from friends and family. If we decide to take a loan from a non-bank or banking company, we will be exempt from paying tax. Borrowers must take into account additional fees, e.g. administrative fees or commission, when taking out a loan. The PCC tax exemption not only applies to applicants for a loan in non-bank companies. This case also applies to persons who borrow money from their closest relatives, belonging to the first tax group, i.e. spouse, descendants, ascendants, sons, son-in-law, stepchildren, in-laws, stepmother and stepfathers. However, we must remember that in this case there is a limit to the amount to which it is not obligatory to pay tax. If we do not exceed the amount of $ 9,637, borrowing money will not involve the payment of the above-mentioned tax on loans.


Who pays the tax on the loan?

tax loan

Taxes on loans are payable by persons who have borrowed money from their friends or relatives who are not in the group of persons belonging to the first tax group. Loans from friends, i.e. unrelated persons, are subject to 2% tax. Money can be used for any purpose, and the tax will be charged regardless of what we spend the received funds. Loan agreements should be concluded in writing so that in the future there will be no problems with the possible date of repayment of borrowings.


Tax exemption – other examples

There are also other situations where the borrower is exempt from paying the tax on the loan. We will meet the first such case when the amount received from one friend does not exceed $ 5,000. The second case is taking a loan from several people. The amount of such a loan cannot be higher than $ 25,000. Loans can be obtained within 3 calendar years. The amounts specified have been in force since January 1, 2009. If we decide on more than one loan in three years, it is worth adding up the commitment received so that the costs of taxing the loan are not charged to us. Entrepreneurs who have granted loans and have their registered office or management board outside Poland as well as conduct loans are also exempt from PCC.


Loan agreement tax – what if I do not file a loan?

Loan agreement tax - what if I do not file a loan?

Everyone who has decided to take out a loan from friends is obliged to submit the loan to the Tax Office. If he does not do so, he must take into account its consequences. Failure to report a loan from friends may result in a 20% tax on the money taken. We must also remember that the interest rate applies to loans from loved ones when we took out a loan higher than $ 9,637. A lot of people don’t admit getting borrowed. However, if the tax officer finds that a person earns too little to buy e.g. a new apartment or car, he or she may require the person to document the receivables that were intended for the purchase of the item.


Loan and tax

Loan and tax

Probably many people wonder what will be more profitable? A loan from a non-bank institution or friends. Most people are aware that money borrowed from our loved ones must be reported to the Tax Office. If you take out a loan from a non-bank or bank company, the loans are not taxable. However, we must take into account other costs, such as APRC, or loan interest. It is worth noting, however, that loan companies can grant us large amounts of money, especially if we decide to take advantage of installment loans. The repayment of liabilities can be settled in equal, monthly installments. Loans in non-bank companies are individually tailored to the needs and capabilities of the client.

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