Polish Government Attacks Tax Havens With New VAT Legislation
According to a report in
the Polish News Bulletin last week, the Finance Ministry is considering the
introduction of a new law banning VAT exemptions on service import transactions
if the country receiving the payment is deemed to be engaging in 'unfair tax
competition'. The Polish list of countries
takes in several of the offshore jurisdictions currently under investigation
by the OECD, for example the Cayman Islands, Bermuda and Andorra, but throws
up some surprise inclusions - Germany, France, Belgium, and the Netherlands also
make an appearance. According to Polish legislators,
the EU member states are considered havens in terms of tax competition because
of the 'administrative, financial, and intangible services' on offer. It is
thought that the new legislation, if implemented, could bring the government
some ZL60 million in additional revenue. .
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