Poland: Switch of withholding tax responsibility on dividend payments
The Polish Ministry of Finance has reaffirmed its intention to modify tax regulations to allow the switch of the withholding tax responsibility on dividend payments from Polish issuers to local custodians/brokers.
The purpose of this change is to reduce:
- Operational costs for investors - original certificates of residence will no longer need to be provided per issuer; and
- Operational risk from the loss of certificates of residence between custodians and issuers.
The effective date for this change is planned for 1 January 2014.
We are closely monitoring the situation and will provide further information as and when it becomes available.
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