Poland: Proposed exemption from withholding tax on T-bills and T-bonds was adopted by Polish institutions
Clearstream Banking1 informs customers that effective
1 January 2023
foreign investors will benefit from an exemption from withholding tax on interest and redemption payments for all Polish T-bills and T-bonds.
This follows the proposed amendments to the Corporate Income Tax (CIT) and Personal Income Tax (PIT) previously described in Tax Newsflash T22006 being adopted by the Polish parliament and approved by the Polish president.
The new regulations remain subject to a more detailed assessment by Clearstream Banking’s depository.
Impact on customers
Foreign investors will no longer be taxed on interest and redemption payments relating to domestic T-bills and T-bonds. The operational procedure has not yet been communicated by Clearstream Banking’s depository and will be announced when available.
Clearstream Banking will continue to monitor the Polish market and will provide further information as it becomes available.
For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.