Read about the five most important issues raised by the Ministry of Finance in the draft clarifications on the new withholding tax regulations (WHT)!
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Can withholding tax be a tax-deductible cost in Poland?
The payment of remuneration to a foreign counterparty may result in an obligation to deduct the WHT (withholding tax) from the remuneration due. Often, a contract concluded with a foreign entity contains a so-called gross-up clause. In such case, the withholding tax deducted does not influence the amount of remuneration remitted, and the amount of withholding tax is actually borne by the Polish business operator. The question arises whether the withholding tax can be a tax-deductible cost.
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WHAT IS A WITHHOLDING TAX? AND WHAT DOES IT LOOK LIKE IN POLAND?
Entrepreneurs who cooperate with foreign counterparties may be required to deduct withholding tax/WHT in Poland. It is not easy to determine when such a tax should be deducted. Especially since the rules are going to change as of 2019!
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NEW WITHHOLDING TAX RULES IN POLAND
2019 will be another year of significant changes in taxes. Some of them will also apply to the withholding tax. The obligation to exercise due care or the obligation to withhold tax despite being in possession of a residency certificate are just some of the changes we will have to deal with.
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