Polish Implementation of Global Minimum Taxation!
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EVENT DETAILS
On June 17, 2024, AmCham Tax Financial Services Committee organized a meeting entitled Polish Implementation of Global Minimum Taxation. Our speakers were from EY Polska, an AmCham member company, dr Filip Majdowski, PhD, Director in International Tax and Transaction Services team, former advisor to the Minister of Finance; Michał Koper, Partner in International Tax and Transaction Services team, and from Financial Accounting Advisory Services team, Hubert Rogoziński, Partner, and Agata Janas, Manager. We have discussed new obligations for Polish entities and the impact on the effectiveness of locally applied tax reliefs, including the key principles of the new tax regime, key information necessary for the calculation of top-up taxation, and the main assumptions of the reporting process according to the new requirements. We have also delved in the impact of top-up taxation on the effectiveness of tax reliefs, such as the R&D relief or zone exemption and the basic mechanisms mitigating the negative impact of top-up taxation on the effectiveness of applied tax reliefs.
The EU Council Directive on the global minimum taxation provides that capital groups with global consolidated revenues equal to or higher than EUR 750 million will be obliged to pay a top-up (supplementary) tax if their effective tax rate (ETR), calculated according to a specific formula for operations in each country (jurisdiction), is lower than 15%. In addition to the risk of additional tax burden, the new regime will involve extensive analytical and reporting obligations. And due to the tax benefits resulting from tax reliefs, top-up taxation is of particular importance for companies benefiting from such preferences, including investors enjoying CIT exemption in special economic zones/Polish Investment Zone or R&D incentives.
SPEAKERS
Filip Majdowski
Michal Koper
Hubert Rogoziński
Agata Janas
SPONSORS
Advisory Council
