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Wednesday, July 24, 2024

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The number of people earning over PLN 10,000 (2,300 euros) gross per month increased to 1.5 million in Poland in 2022, according to a report by KPMG. However, the group of people with net assets exceeding $1 million fell by a tenth.

The number of people exceeding the second tax threshold (PLN 120,000 gross per year) increased by 51% y/y in 2022, according to the report. Their total earnings reached almost PLN 376 billion, which is also an increase, of 9.6% y/y. Compared to the previous year, the income of people who earned at least PLN 20,000 decreased.

For the purposes of the report, people exceeding the second tax threshold were divided into three groups:

– people with income above PLN 20,000 gross per month; people who earn over PLN 50,000 gross per month; and those whose monthly earnings exceed PLN 83,300 gross, which means that their annual gross income is greater than PLN 1 million.

“We are observing a constant increase in the number of wealthy people in Poland. This is a trend that has been going on continuously for many years. Interestingly, despite the increase in the tax threshold, the number of people earning over PLN 120,000 increased. This can be explained by: high inflation and significant wage increases. Additionally, the inflow into Poland of high-earning Ukrainian citizens employed in international corporations could also have contributed to the above-mentioned increase,” explained Andrzej Marczak, partner and head of the PIT team at KPMG in Poland.

At the end of 2022 there were less than 90,000 people living in Poland with assets exceeding $1 million net. This means a decrease in the number of such people by almost 10,500 (approx. 10%) compared to 2021. “The decline in the number of the richest Poles classified as HNWI (high net worth individuals – people with assets exceeding $1 million) is part of a global trend and may be caused by the appreciation of the US dollar against the zloty. “Once again, the thesis that ‘the richest get richer the fastest’ has been proven,” says Andrzej Marczak, partner and head of the PIT team at KPMG in Poland.

Sylwia Ziemacka
Sylwia Ziemacka
“I believe our unique selling point is that we focus on what brings us together. Poland Weekly offers something you will not find anywhere else: a truly international and unifying perspective focused on content that builds cooperation and mutual understanding. This attitude doesn't make us naïve, but it allows us to focus on mutual understanding and a search for solutions. There are so many new challenges that we are all facing, such as energy transformation, climate change and supply chain disruption, to name but a few. By working together and sharing good practices, we can achieve so much more.”
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