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PL - New Polish tax law affecting investment funds

01/01/2017

On 29 November 2016, enacted tax legislation in Poland revises the corporate income tax rules that apply concerning the taxation of investment funds.

On 29 November 2016, enacted tax legislation in Poland revises the corporate income tax rules that apply concerning the taxation of investment funds. The new measures are effective on 1 January 2017. The general tax exemption for closed-end investment funds has been abolished as certain types of their revenues are now subject to taxation. General tax exemption is maintained for EU/EEA based open-end investment funds and specialised open-end investment funds that do not apply the rules and limitations prescribed for closed-ended investment funds . However, open-end funds that issue participation units that are not subject to public offering or that are capable to invest in property rights not being securities and money market instruments, will no longer be eligible for general tax exemption.