Polish Government Attacks Tax Havens With New VAT Legislation
by Ulrika Lomas, Tax-News.com, Brussels
17 December 2001
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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