Global

Details

  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 7/7/2014

Poland - Status of CFC legislative proposals 

July 7: Legislative proposals in Poland include measures for a controlled foreign corporation (CFC) regime, under which tax would be imposed on certain income or gains derived by certain foreign subsidiaries owned by Polish taxpayers.

The pending legislative proposals define when a subsidiary would be considered to be a CFC.


The legislation also, if enacted, would make changes to the thin capitalization rules and the tax treatment of in-kind transfers of assets to shareholders.

Status of legislation

The lower chamber (Sejm) passed the bill in late June 2014, thus sending the measures to the upper chamber of the parliament. After the completion of the legislative procedures in both chambers, the bill would be presented to the president for signature.


The CFC provisions are intended to be effective on the first day of the fourth month following official promulgation of the law—which means that if the legislation were to be published in July 2014, the CFC rules would be effective beginning November 2014.


Read a July 2014 report(PDF 138KB) prepared by the KPMG member firm in Poland: Tax Alert (July 2014)




©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now