Poland: Proposed amendment to EU/EEA investment funds exemption rules


Changes to Polish Corporate Income Tax (CIT) regulations are expected to amend the exemption criteria for EU/EEA investment funds.

These amendments have been submitted to the Polish Parliament and, if approved, will be effective as of 1 January 2017 with the result that certain EU/EEA exempt investment funds will no longer be exempt on their entire income but only from specified sources of income such as sales of securities and derivatives, interest and dividend payments.

The main impact of these changes relates to the existing statements submitted to local custodians that will become invalid with the need for the eligible investment funds to submit new statements in order to maintain the existing exemption.

EU/EEA pension funds will not be affected by the proposed changes.

The changes are subject to approval of the Polish Parliament and sign off from the President of Poland.

We continue to monitor the situation in the market and will provide further information as it becomes available.

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