Clifford Chance

Drafts of new polish regulations on taxation of financial institutions and large retailers

30 December 2015

This briefing gives an overview of recent developments in the area of tax law which the new government plans to implement. The Act on Tax on Certain Financial Institutions has already been adopted by the lower house of the Parliament, while the draft Act on Tax on Large Retail Stores in the Republic of Poland is still subject to governmental and parliamentary discussion and therefore, it may be subject to changes affecting both the details or even some of the more fundamental principles of the new regulation. The government estimates that these taxes may contribute almost PLN 7 billion in tax revenue (PLN 4-5 billion from the tax on certain financial institutions and PLN 2 billion from the tax on large retail stores) to the State budget. The new law is expected to come into force at the beginning of 2016 (i.e. in the case of Act on Tax on Certain Financial Institutions – from 1 February 2016 and in the case of Act on Tax on Large Retail Stores – from 1 March 2016).

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