Monday, 20 July, 2015

Recent Developments in Poland

Poland to share tax data with the US under FATCA

In June  2015, the act implementing Foreign Account Tax Compliance ACT (FATCA) entered into force in Poland, as a result of an agreement concluded by and between the Polish and the United States governments. 

FATCA is a US anti-avoidance law. It requires financial institutions abroad to provide the US tax authority with information about their US citizen clients. Poland is one of many countries that have agreed to implement FATCA and share tax data with the US to help it enforce the Act.

 

Poland receives new investment from United Arab Emirates

In a recent trip to Dubai, Poland’s deputy prime minister and minister of economy, Janusz Piechociński, announced significant UAE investment in sectors such as real estate, infrastructure, renewables and food processing. 

The UAE is a popular trading partner for Polish businesses, in part due to its favourable tax regime and a beneficial double tax treaty with Poland. Exports to the UAE increased by 50% from 2013 to 2014, and this investment is likely to strengthen Poland’s export market further.

 

Contacts

Head of Tax Services Poland,
+48 22 205 65 12