New tax obligations for multinationals

This means that Poland transposes into its national legislation the EU Directive that requires large multinational enterprises to publish how much income tax they have paid in each country. This obligation will become effective from the new financial year commencing after 21 June 2024. 

 

 

The amended statute requires ultimate parent entities and standalone entities to publish income tax reports if their revenues disclosed in the annual financial statements exceeded 750 million euro in each of the two recent financial years.

 

Importantly, the obligation will apply as well to the group members (subsidiaries and branch offices) e.g. if the parent company fails to prepare or file the income tax report. 

 

Data in the report will have to be disclosed separately for each EEA member state in which the company carries on business, and for tax havens.

 

 

Statutory auditors and audit firms will have to confirm in their auditor's report whether the entity is obliged to file an income tax report and if so – whether it has filed it. Non-compliance is subject to a fine. 

 

 

The new rules will apply not only to the ultimate parent entities but also their branch offices and subsidiaries. The statute implements the EU Directive, which means that similar obligations will apply across all Member States. That is why it is so important to examine the implications for your business in advance.  

 

Not sure if the new regulations apply to your business? Do you want to know who can be exempt? Contact us – we will have a first look if you may need to comply with the new obligations and support you in all formalities.