To Whom It May Concern,
We would like to remind you that as of Jan. 1st, 2015, Poland introduced regulations on CFC, or controlled foreign corporations. We mentioned this at our website:
Now that the regulations have been in effect for a full year, the deadline of Sept. 30th is near for 2015 CFC declarations to be filed by Polish taxpayers who are required to pay tax under the CFC regulations.
At the same time, every owner of foreign companies that meet criteria specified in applicable laws is required to keep a register of such companies and as regards CFC (as defined in the regulation), their owners are also required to keep records of economic events. If so requested by tax authorities, such owners are obligated to present the records and registers within 7 days. Failure to meet this deadline may cause taxpayers’ income to be estimated under Polish tax regulations.
- members of foreign companies that meet certain legal criteria are required to keep a register of such companies and present the register when requested by the authorities;
- members of controlled foreign corporations that meet certain legal criteria are required to keep records of economic events that occur in the said corporations and present the records when requested by the authorities;
- taxpayers who are obligated to pay tax specified under the CFC regulations are also required to file a CFC declaration indicating the tax and pay the tax by Sept. 30, 2016.
Keeping the records and registers is mandatory even if members of foreign companies are not required to file CFC declarations and pay tax calculated according to the CFC regulations. Please note that the aforementioned requirements apply to individuals as well as legal persons and other entities that are subject to corporate income tax, including Polish partnerships limited by shares.
We encourage you to contact us should you have any questions and doubts. We are pleased to tell you that the OpusNet group companies OpusFinance and OpusTax have a special offer designed for members of foreign companies to help them prepare the aforementioned records, registers and CFC declarations. OpusNet Clients will be advised about the details by the end of this week.
Visit the link below for the contact information of our offices.