the Applicant of the draft law on taxation of PHYSICAL consider the introduction of correction, announced in the Sejm Deputy speaker of the new year Tułajew (PiS). From his words it follows that the purpose of correcting the receiving tax of all closed-end funds, but those used to optimise the tax.
“considers the introduction of amendments to the draft law. The law is aimed at changing the distribution provisions of income tax act all mutual funds and closed. However, pay attention to those who apply the principle which I mentioned earlier, that is, the negative actions associated with the use of investment funds closed to tax optimization,” said Tułajew.
“In the course of work of the Commission of public finances, we will consider the opportunity to distinguish between investment funds that are closed to really pay attention and to notice those companies that have closed investment funds for tax optimization and those investing funds on the capital markets,” he added.
the Saeima will review on Friday amendments to the law on profit tax. The project was introduced by deputies from the PiS. It involves changing the rules of the taxation of investment funds, which is manifested, in particular, on the provisions of the income tax act and private investment funds (FIZ). This lead to the increase in revenues of public Finance sector. 2-2,5 billion UAH.
In the explanatory Memorandum, the petitioners argue that PHYS-y represent one of the key elements of building structures for tax planning by use of foreign entities (mostly financial), via the PHYSICAL localization in a chain of entities engaged in business activities and generating income from this activity, in vast part, to PHYSICAL.
the authors of the project pointed out that in the case of investments in PHYSICAL taxation of income takes place at the level of the investor (participant) at the stage of profit, i.e. at the moment of repayment or redemption in the Fund’s investment certificates – tax rate in the amount of 19 percent.
According to the explanatory note, the creation of this kind of private investment vehicle can only afford the subjects of investing the amount of the order of several tens of millions of rubles (average annual maintenance costs PHYSICAL not exceed 400 thousand. RUB.). This, according to authors of changes, results uprzywilejowaniem large taxpayers in respect of small and medium enterprises.
is given in the explanatory note data show that in 2013. FIZ-y reached 10 billion rubles of profit in 2014. – 7 billion rubles, and in 2015. 12 billion rubles. At the same time, mutual funds were sometimes casualties. The difference in the results of PHYSICAL and other means, can be assigned – according to deputies – achievement not benefit de facto from entrepreneurial activities through mechanisms of tax optimization and not an investment.
a Source told REUTERS that the announced amendment will be filed in the the diet for two weeks, as this issue needs to be doprecyzowana.
market Participants, however, noted that the project was not enough difference between NAT-s, i.e., closed investment funds, inwestującymi measures, in particular, retail clients at market transport, and FIZAN-AMI, which in part actually served as tax optimization that allows to pay the tax at a later date. Do not hide fears that the project could seriously disrupt the functioning of the market of investment funds in Poland.
the Ministry of Finance supports the MP design; sales PHYSICAL, wanting to solve the problem of tax optimization through the closed investment funds, but Deputy Minister Leszek Skiba notes that PHYSICAL-y honestly working in the capital market should not be placed taxes.
“If we are talking about issues relating to investment funds, it is the case is considered so that really finally solved was the problem of tax optimization through NAT”, – said Leszek Skiba during a debate in the Sejm.
“because Of this, the initiative of deputies deserves support. (…). To the project was directed primarily to those initiatives related to optimization, and these ICE-y, which honestly trying to work on the capital market and are not associated with optimization was not covered by payment of taxes”, – said Deputy Minister of Finance.
the Saeima will review on Friday amendments to the law on income tax from individuals legal. The project was introduced by deputies from the PiS. It provides change the taxation of investment funds, which is manifested, in particular, the provisions of the income tax act, investment funds closed (DEF). This lead to the increase of revenues in the sector government Finance. 2-2,5 billion UAH.
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