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Reporting information on real property companies – forms already available

by Monika Bartosiewicz

25 August 2022

The deadline for real property companies and their shareholders to file information on their shareholding structure as of 31 December 2021 expires on 30 September 2022. The Ministry of Finance has just released two template forms which companies may use to submit the relevant information to the Head of the National Revenue Administration.

Definition of a real property company

The obligations arise from the CIT and PIT Acts. New regulations came into force in January 2021 introducing the definition of a real property company. It is an entity, other than an individual, obliged to prepare a balance sheet in compliance with accounting laws. There are also additional conditions dependent on whether the company just commences or continues its business activity:

1. for entities that commence their business operations:

real properties located in Poland, or rights to such real properties, must make up, directly or indirectly, at least 50% of the market value of assets and
the market value of those real properties must be higher than 10 million zloty or an equivalent of that amount;

2. for entities that continue their business operations:

in the year preceding the fiscal or financial year, taxable income, and if the real property company is not an income tax payer – income disclosed in the net profit(loss) from letting, sub-letting, lease and sublease, including lease with the right to derive benefits (dzierżawa), and similar agreements or from transfer of title to the real properties or interest in the real properties or from shares in other real property companies, accounted for at least 60% of the taxable revenue or income disclosed in the net profit(loss).

Obligations

The obligation to file the information with the Head of the National Revenue Administration applies to real property companies and their shareholders who hold:

at least 5% of voting rights in the company or
rights and obligations which give at least 5% right to a share in profit of a partnership or
at least 5% of the total participation rights or similar rights.

As the deadline is approaching, now is a good time to start working on the forms. The reporting process may take some time as it involves analysing the shareholding structure and requires collecting relevant documents. Therefore, we recommend starting work now to make sure that the obligations are met on time.

If you would like to know the details concerning the new obligations, you are welcome to contact our experts.

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Monika Bartosiewicz

Tax adviser (Poland)

Associate Partner

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