Poland: Withholding tax exemption extended to all eligible foreign investment and pension funds - Update
Reference
Note: This announcement originally published on 9 December 2025, has been updated to inform clients that Statement D for pension funds and Statement F for investment funds will be updated. Changes have been highlighted.
Clearstream1 informs clients that effective
1 January 2026
the current withholding tax applicable for eligible EU/EEA (European Union/European Economic Area) based investment funds will be extended to all eligible foreign investment and pension funds.
This measure follows the approval by the President of Poland of the changes to the Corporate Income Tax (CIT) Act, which were proposed by the Polish Ministry of Finance (please refer to TaxFlash T25007).
To qualify for the exemption under the new rules, a foreign investment or pension fund must be domiciled in a jurisdiction that has a legal framework allowing Polish authorities to obtain information about accounts held by the fund through an automatic exchange mechanism (for example, Common Reporting Standard, FATCA).
The Polish Ministry of Finance periodically publishes and reviews the list of jurisdictions that meet this requirement. The most recent list, 2024 published list, includes the following countries:
Antigua and Barbuda | Argentine Republic | Aruba | Austria |
Bailiwick of Guernsey | Bailiwick of Jersey | Barbados | Belgium |
Bonaire | Bulgaria | Canada | Commonwealth of Australia |
Cook Islands | Country of Curaçao | Croatia | Cyprus |
Czech Republic | Denmark | Estonia | Faroe Islands |
Federal Republic of Nigeria | Federation of Saint Kitts and Nevis | Federative Republic of Brazil | Finland |
France | Georgia | Germany | Gibraltar |
Greece | Greenland | Grenada | Hong Kong Special Administrative Region |
Hungary | Ireland | Islamic Republic of Pakistan | Isle of Man |
Italy | Jamaica | Japan | Kingdom of Norway |
Kingdom of Saudi Arabia | Kingdom of Thailand | Latvia | Lithuania |
Luxembourg | Malaysia | Malta | Netherlands |
New Zealand | Oriental Republic of Uruguay | People's Republic of China | Portugal |
Principality of Andorra | Principality of Liechtenstein | Principality of Monaco | Republic of Albania |
Republic of Armenia | Republic of Azerbaijan | Republic of Chile | Republic of Colombia |
Republic of Costa Rica | Republic of Ecuador | Republic of Ghana | Republic of Iceland |
Republic of India | Republic of Indonesia | Republic of Kazakhstan | Republic of Kenya |
Republic of Korea | Republic of Maldives | Republic of Mauritius | Republic of Moldova |
Republic of Panama | Republic of Peru | Republic of San Marino | Republic of Seychelles |
Republic of Singapore | Republic of South Africa | Republic of Turkey | Republic of Uganda |
Romania | Russian Federation | Saint Lucia | Sint Eustatius and Saba |
Slovakia | Slovenia | Spain | State of Israel |
Sweden | Swiss Confederation | Ukraine | United Kingdom of Great Britain and Northern Ireland |
United Mexican States | United States of America |
The new conditions are generally consistent with the conditions that currently apply EU/EEA-based funds. However, a key change relates to fund management: a fund's internal management body will be recognised as a valid equivalent to an external fund management company, provided that its powers are officially recorded in a register maintained by the relevant supervisory authorities.
Impact on clients
Effective 1 January 2026, all beneficial owners that are eligible foreign investment and pension funds (that is, both EU/EEA and non-EU/EEA funds) will be able to benefit from the withholding tax exemption in Poland under uniform terms. Accordingly, as of that date, the current beneficial owner statements in our tax forms—namely Statement D for pension funds and Statement F for investment funds—will be replaced with updated versions to reflect these changes.
Further information
For further information, please contact the Clearstream Tax Help Desk, Clearstream Client Services or your Relationship Officer.
------------------------------------------
1. Clearstream 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 Europe AG (for Clearstream Europe AG clients using Creation accounts), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500. Clearstream Banking S.A. is registered as an Australian CS (Overseas) Facility, under subsection 824B(2) of the Corporations Act 2001, with registration number ARBN 675 244 783.