Print Edition - 2018-08-29  |  Money Digest

Poland to impose exit tax on firms

WARSAW

Aug 29, 2018-

Poland plans to introduce an “exit tax” of up to 19 percent on companies and wealthy individuals who move assets or production abroad, the finance ministry said in draft legislation due to come into force in 2019. The tax will be imposed when assets are moved outside Poland and the country loses its right to tax income from the sale of those assets, or when a person with shares or other financial assets worth at least 2 million zloty ($533,000) moves abroad for good, the ministry said. “The tax on unrealised income amounts to 1) 19 percent of the tax base, when the tax value of an asset is set 2) 3 percent of the tax base, when the tax value of an asset is not set,” the ministry said in a draft sent to Reuters. (REUTERS)

Published: 29-08-2018 08:21

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