On June 26, 2017, Poland issued a new amendment (new article 27b) to the Corporate Income Tax Act (CITA), which would require public disclosure of tax information for large taxpayers. The information disclosed would include the taxpayer’s name and tax identification number; relevant tax year; revenue; incurred expenses; earned income or loss; and amount of tax due. See BEPS Action 13.
The current article 27 of the CITA says that taxpayers, with certain exceptions, are required to submit to tax offices tax returns prepared with the use of standard forms concerning the amount of income (loss) in a given tax year – by the end of the third month of the following year and, within that time limit, pay the tax due or the difference between the tax due on the income reported in the tax return and the aggregate advances due for the period from the beginning of the year.
The taxpayers who are required to prepare financial statements shall submit to the tax office the financial statements, with an opinion and report (with certain exceptions) of an entity authorized to audit financial statements, within 10 days from the day of approval of annual financial statements, and in the case of companies – also with a copy of a resolution of a general meeting approving the financial statements.
The disclosure would affect approximately 4,500 taxpayers with the highest revenue (equivalent to approximately 1% of all corporate taxpayers) and specific taxpayers that maintain a taxable group status. According to the draft law, public disclosure of tax information will not violate the rules on fiscal secrecy. Poland proposes that the relevant tax data be published annually by September 30th of the year following the end of the taxpayer’s tax year.
If approved, the amendment will enter into force on January 1, 2018, with the first tax data for the 2012-2017 tax years published by September 30, 2018.