Poland Prime Minister Announces Cabinet Adoption of Draft Bill to Amend Corporate Income Tax Act

The Polish Prime Minister’s Office Sept. 30 announced that the Council of Ministers adopted a draft bill to amend the Corporate Income Tax Act. The draft bill includes measures to specify that: 1) a family foundation’s income from the sale of its assets is taxable, provided that the sale takes place within 36 months of the end of the year in which the assets were contributed to the family foundation; 2) family foundation income received through so-called tax-transparent entities is subject to taxation; 3) family foundations will be subject to the Controlled Foreign Entity (CFC) regulations to prevent the transfer ...