Polish Governance: Investors will get Interpretation 590
Strategic partners who decide to invest in Poland will receive a comprehensive interpretation concerning tax consequences of investments in Poland in the form of the so-called ‘Interpretation 590’ - says the Ministry of Finance.
The document will be prepared by the Finance Ministry and will be an investment agreement. Similar solutions have been implemented in Italy, Hungary and Slovakia.
– The aim of the Interpretation 590 is to give investors protection – the document will include the determination of tax consequences in PIT, CIT, VAT, excise duty, property tax or customs duty. The new agreement will also include the equivalent of binding rate information, binding excise information, safeguard opinion and advanced price agreement. The document will be binding for 5 years from the date of its conclusion, although an option to renegotiate the terms of such agreement is to be introduced – points out Michał Nielepkowicz, tax advisor, partner in Thedy & Partners.
It is also worth mentioning that the Ministry of Finance has announced the creation of an Investor Desk. It will serve as a complex service, both at the stage of issuing the 590 interpretation and later on, in the course of the current company service.