Poland: Frontrunners in BEPS

Poland: Frontrunners in BEPS

Given the voluntary (non-binding) character of the OECD framework cooperation individual countries’ response to the BEPS initiative has been surprisingly active with Poland being among the front-runners.

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For today’s tax executives, the future of international taxation has never been more uncertain. The global project to address tax base erosion and profit shifting (BEPS) is in full swing, and the Organisation for Economic Co-operation and Development’s (OECD’s) Action Plan on BEPS is at its final stages.

Given the voluntary (non-binding) character of the OECD framework cooperation individual countries’ response to the BEPS initiative has been surprisingly active with Poland being among the front-runners.

In the recent months Polish government has been actively involved in the implementation of the BEPS ideas into the Polish tax environment. It appears that further changes are inevitable.

As a result of the above, Polish tax authorities are being equipped with more and more tools which will likely enhance their focus and scrutiny of international transactions.

Polish taxpayers should review their existing transactions and structures immediately to identify potential tax risk areas in light of the G20-OECD BEPS Action Plan, existing Polish regulations and upcoming proposals.

Such review should be followed by all necessary steps to ensure transparency and to maximally reduce potential tax exposure. With adequate preparation, Polish taxpayers will be able to adapt to the new tax landscape created by BEPS without suffering unwarranted disruptions in business operations or incurring excessive tax costs during the transition.
 

Introducing the BEPS Thermometer

Below KPMG provides you with a short introduction into the BEPS world and specific changes it brings to Poland. We then follow with a health check tool which aims at identifying the key areas / weaknesses and symptoms of what we call “BEPS fever”. We also offer you our resources in performing further reviews of your business operations and monitoring BEPS-related developments.

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