• Service: Tax, International Tax
  • Type: Regulatory update
  • Date: 5/12/2014

Poland - Interest on refund claims of non-EU investment fund 

May 12:  Polish tax law provides specific rules for determining the rate of interest on refunds if the tax overpayment relates to a judgment of the Court of Justice of the European Union (CJEU).

The CJEU issued a judgment on 10 April 2014 in the Emerging Markets case. In that case, the CJEU concluded that the free movement of capital principle precludes rules—such as under Poland’s tax law—that do not extend a tax exemption to outbound dividends paid to an investment fund established in a non-EU country, provided there is an applicable agreement for mutual administrative assistance.

Under Polish rules, a tax refund claim filed by the end of the 30-day period after the CJEU judgment is published in the Official Journal of the European Union would be entitled to an enhanced rate of interest.

KPMG observation

Taxpayers affected by this judgment may want to consider filing a claim for tax refund. According to unofficial information, it appears that the judgment is expected to be published in the Official Journal by the end of May 2014 or early June 2014. Therefore, those taxpayers considering filing a tax refund claim may want to consider filing their claims as soon as possible.

Read a May 2014 report [PDF 113 KB] prepared by the KPMG member firm in Poland: Tax Alert

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