Thursday, 1 December 2016

New reporting obligations for Polish taxpayers belonging to large multinational groups

A modified draft act on the exchange of tax information with other states dated October 7, 2016 has been published on the websites of the Polish Government Legislation Centre. The act seeks to prevent tax fraud and tax evasion through the automatic exchange of tax information by and between state administrations.

The draft puts Polish taxpayers that belong to large international groups under additional obligations to report certain information as part of the implementation of the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) initiative on transfer pricing documentation as well as corresponding EU directive on Country-by-Country (CbC) reporting.

The new rules are planned to come into force as of January 1, 2017.

Source and more info: PwC