Recent Polish Legislation on Tax Havens

On January 1st, 2001, new and important tax legislation entered into force in Poland: two tax statutes have been amended and one executive order was issued by the Minister of Finance. The Tax Act (Natural Persons) 1991 and the Tax Act (Corporate) 1992 have been supplemented by adding new provisions to each of them: Article 25a and Article 9a, respectively…These amendments, although well intentioned, contain regulations that will make life difficult for both private persons and companies doing businesses with partners associated with or residing in countries that engage in harmful tax competition (“tax havens”). Undoubtedly, these new provisions will facilitate criminal investigations carried out by the Polish revenue authorities…[more]