MF has developed rules ws. No- redeemed tax … – Polish Press Agency

08.04. Warsaw (PAP) – The Tax Office has requested a tax on banks redeemed part of the housing loans granted before January 15, 2015., when the central bank released the Swiss franc – provides a draft regulation prepared by the Ministry of Finance.

The specified in draft rules would apply until the end of 2016. concern both foreign currency loans and extended in gold.

The issue of the relevant regulation applied to the MF Polish Bank Association, arguing that any aid decisions of banks to borrowers located in financial difficulties should not be associated with the need for borrowers to pay tax on the remitted portion of the loan.

“Since borrowers have lost the ability to meet its obligation to the entity granting the loan, the more you will have difficulty paying income tax payable in respect of physical receipt of material compensation in the form of cancellation of these commitments “- suggested the banks.

Published on the website of the Government Legislation Centre draft regulation to abandon the collection of personal income tax and corporate income taxpayers from certain income tax personal income and taxpayers corporation provides that the tax authorities will not require PIT of redeemed individuals from the titles of receivables secured by mortgage loans granted before January 15, 2015. for residential purposes. According to the draft tax would not be charged as if it had received from the bank’s borrower income as a result of the negative market interest rates. To take advantage of the benefits of regulation, the borrower would have to be used at the time of redemption on their property for residential purposes.

At the same time – by design – the banks do not have to pay tax on the income constituting the equivalent of canceled liabilities. This would this part of depreciated capital from which to collecting PIT abandoned.

Under current tax laws, canceled a loan are treated as income on which you have to pay income tax. The borrower could also obtain taxable income in the event of a negative interest rate of the loan. Such a situation would be possible, eg. In a situation, if the sum of the negative LIBOR rate for the franc and the bank’s margin was less than zero. In this case, the bank should pay the borrower interest or reduced by a corresponding amount of the principal to be paid.

In January, Mateusz Szczurek Finance Minister convened a meeting of the Financial Stability Committee (KSF), which was attended, in addition to members of the KSF (Minister of Finance, Chairman of the Financial Supervision Commission, the president of the Polish National Bank and the President of the Bank Guarantee Fund), President of the Office of Competition and Consumer Protection, as well as representatives of commercial banks, which have the largest portfolios of mortgage loans in Swiss francs.

KSF recommended banks to take measures to reduce the effects of this situation for borrowers indebted in Swiss currency, including recommended the use of negative rates by banks CHF LIBOR base rate, the non-contract provisions unfavorable to borrowers and the use of restructuring solutions tailored to individual needs and abilities of each client and their adaptation to the current market conditions.

Since the end of February the borrower in debt franc can check on the website of the OCCP (www.uokik.gov.pl), among others, whether their bank takes into account the negative interest rate for the Swiss franc LIBOR, what are the differences in the rate of the franc in individual banks or that facilitate the repayment of the loans offered by other banks.

January 15 the Swiss National Bank (SNB) unexpectedly freed franc (while lowering the interest rate minus 0.75 per cent.), causing panic in the market. Previously, the SNB maintained pegged, which meant that the euro could cost less than 1.20 franc. The decision meant that the Swiss currency has appreciated by leaps and bounds, including against the zloty. After the decision of the SNB as the franc had to pay a record 5.19 zł, but the day before cost 3.57 zł. Currently, it is approx. 3.8-3.9 zł. (PAP)

mmu / son /

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