The new “Tax Information Exchange with Other Countries Act” (the “Act”) comes into effect on 4 April 2017. The Act implements Directive 2011/16/EU and the OECD Common Reporting Standard into Polish national legislation.
The main aim of the provisions is to enhance cooperation between the EU and OECD tax authorities and facilitate the exchange of information in the area of direct taxation. The new provisions should reduce the time and costs of data exchange.
Cooperation procedures will include:
- exchange of tax information on request or ex officio;
- automatic exchange of information about specific bank accounts;
- automatic exchange of information about Individual Tax Interpretations and Advance Pricing Agreements;
- automatic exchange of information about groups of connected entities.
Instead of making a list of specific direct taxes that are subject to the cooperation procedure, the Act states that the new rules will not apply to public liabilities such as:
- VAT *,
- customs *,
- excise duties*,
- social insurance contributions,
- stamp duties, and
- contractual receivables (for instance from public utility activities).
The new regulations will also not apply to tax information exchange on the grounds of the Agreement between Poland and the USA (FATCA regulations).
The new Act comes into effect on 4 April 2017, but provisions regarding information about specific bank accounts will come into force on 1 May 2017.
*in the scope of information covered by EU regulations regarding administrative cooperation