NEWSLETTER

WTS Alliance Tax News 4/2014 Poland

CHANGES TO TRANSFER PRICING REGULATIONS AS OF 1 JANUARY 2015

Please note that important changes in transfer pricing regulations are scheduled to become effective on 1 January 2015. Under the new law, the term 'related party' has been extended to cover also unincorporated organisations, such as registered partnerships (spółka jawna), limited liability partnerships and limited partnerships. In addition, the transfer pricing documentation requirements will now apply also to joint venture agreements, partnership agreements and similar agreements between related parties. What is more, such documentation will be required of taxpayers who have permanent establishments abroad. As of 1 January 2015, tax authorities will have power to assess income from transactions with entities based in tax havens if the transaction is considered not to be at arm’s length. The new law will allow the so-called adjustment-by-mail option in cases of transfer pricing income assessments between Polish related parties. This option, which applies in situations where a tax inspection results in additional income being assessed for one party to a transaction, will be available to the other party so that it will on certain conditions be able to apply to have its tax adjusted accordingly. The specific procedures will most likely be introduced under secondary legislation. If this issue pertains to your business and you are interested in our assistance, please let us know.

This Newsletter provides general information and is designed to keep you up-to-date with changes in tax law, tax rulings and interpretations, case law development and interesting commentaries. Doradztwo Podatkowe WTS&Saja shall not be held legally liable for any acts or omissions that follow from the contents hereof.

Doradztwo Podatkowe WTS&SAJA Sp. z o.o. th Delta Building, 4 floor ul. Towarowa 35 61-896 Poznań Poland

P +48 61 643 45 50 F +48 61 643 45 51 [email protected] www.wtssaja.pl

Managing Partner: Magdalena Saja

Tax ID: 778-141-77-66 Poznań District Court for Poznań Nowe Miasto and WiIda, 8th Commercial Division KRS 0000206176 Share capital: 200 000 PLN

NEWSLETTER - WTS

Jan 1, 2015 - The new law will allow the so-called adjustment-by-mail option in cases of transfer pricing income assessments between Polish related parties.

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