Poland: Amendments to Income Tax Law officially published
Changes to the validity of the Certificate of Tax Residency (COTR) have been clarified and will be effective from
4 January 2015
Impact on customers
The amendments to the Corporate Income Tax Law and Personal Income Tax Law clarify that, from 4 January 2015, a COTR issued without any validity period will be considered as valid for twelve months from the date of issuance. However, the validity period will always supersede the issuance date.
For example:
A COTR with issuance date 1 October 2014 with validity period "valid for year 2014" will only be valid from 1 January 2014 until 31 December 2014.
A COTR with issuance date 1 October 2014 without any validity period mentioned will be valid for a period of twelve months from 1 October 2014 until 30 September 2015.
Important
Customers must ensure that the currently held COTR will be valid once new regulations are in place. The annual renewal of the COTRs is still required and must be performed in due course.
We remind customers that for relief at source, a valid COTR has to be in place prior to the first income payment.
Withholding tax remitter
Together with the changes to the Law our depository in Poland, Bank Handlowy w Warszawie S.A., will become tax remitters for withholding tax on all dividends and all interest payments instead of the issuers effective from 1 January 2015.
Further information
For further information, customers may contact the Clearstream Banking Tax Help Desk or Clearstream Banking Client Services or their Relationship Officer.