Poland: President signs new legislation on CbC reporting requirement

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The new legislation regarding the exchange of tax information with other countries was signed by the President on 20 March 2017. The Law provides information on obligations of financial institutions and the automatic exchange of country-by-country (CbC) reports. Entities belonging to groups with a registered office or permanent establishment (PE) in Poland shall provide the group information for the reporting year. The new legislation provides rules requiring disclosure and exchange of information on entities within the group including revenue, realized gain (loss) before tax, income tax paid and payable, penalties, capital, ROE, number of employees and tangible assets other than cash and cash equivalents.

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