Global

Overview of taxes on financial transactions within the EU - Poland 

An overview of Poland, one of nine EU Member States considered to apply a tax on financial transactions.

Status

In force

Introduced

9 September 2000

Legislative reference

Civil Law Activities Tax (CLAT) Law

Type of tax

Registration tax (on contracts)

In scope instruments

Property rights (including shares and derivatives)

Taxable event (transaction)

Sale or exchange

Territorial connection for liability – condition for taxability is:

Residence of issuer?

N/A


Location of transaction (e.g. traded on local stock exchange)?

Subject to tax if the property right is exercised in Poland.


Location of party (e.g. at least one party to the transaction is resident)?

Subject to tax if the property right is exercised outside Poland, but the buyer is seated in Poland and the transaction is performed/entered into in Poland.


Residence of financial intermediary?

Yes, unless there is an exemption.

Other relevant conditions for taxability

Transaction is outside the scope of CLAT if at least one of the parties in the transaction is subject to value added tax (VAT) on the transaction (either effective taxation or VAT exemption will meet this condition).

Exempt transactions

  • transactions involving Polish treasury bonds and Polish treasury bills, bills issued by the National Bank of Poland and certain other specified securities
  • transactions occurring through a stock exchange - over-the counter (OTC) transactions in listed securities may be subject to tax
  • sale to or through investment firms.

Person responsible for collecting/remitting tax

As a rule, the buyer is liable for declaring and paying the tax (both parties jointly if the property right is transferred in an exchange transaction). In the case where the agreement is executed in the form of notarial deed, a notary is responsible for collecting and remitting the tax due.

Liable persons

The buyer (parties in the exchange agreement)

Person who in practice bears the tax

The buyer (parties in the exchange agreement)

How enforced

As a rule, the taxpayer is liable for declaring and paying the tax and filing the required tax return.

Penalties in case of failure to file/pay

Penalty interest and responsibility under the penal fiscal code for the person responsible for calculating/filing/paying tax.

Tax base

Market value

Tax rate(s)

0.01 percent

N/A

Other comments

N/A


Marcin Rudnicki

KPMG in Poland

+48 22 528 11 77

Michal Niznik

KPMG in Poland

+48 22 528 13 77

Share this

Share this

Follow us

follow us on Twitter
follow us on Linkedin

EU Financial Transaction Tax draft directive

Text from the original EU financial transaction tax draft directive that has been adapted to include related referenced content.

KPMG's EU Tax Centre

EU direct tax practice
KPMG member firms have set up an EU Tax Centre to help you understand the implications of EU tax law and how it can help your business.