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Foreign bank interest - ensure you declare gross interest accounts

posts: 3

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Aug 26, 11, 12:47 #1

One silly non-English bank failed to inform me they had given me a special non-resident account (it's written clearly in Greek!) - the upshot being that I have lost some EUR 250 in interest, which I have to pay to the Polish tax office. Undeclared gross interest is reclaimed by the tax office at the rate of 90% of the interest received.

Oh yes, and the hassle involved ...

UK bank accounts: I chose to be taxed at source on my bank account interest (such as it is), but you still need a letter from the bank saying this is being done.

LwowskaKrakowThreads: 49 Posts: 504 Joined: Mar 9, 07 MEMBER ♀	Sep 9, 11, 13:01 #2
I don't get it.Did you have an account in PLN ?

delphiandomineThreads: 42 Posts: 9,954 Joined: Nov 25, 08 ♂ [Suspended]	Sep 9, 11, 21:55 #3
I don't get it. As I understand it, he had a non-Polish account which paid interest gross (not net, like Polish bank accounts - they pay the tax straight to the tax office) - and he failed to declare this.

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