Polish Parliament Passes Curbs on Family Foundation Tax Abuse

The upper house of Polish parliament passed a bill that will make family foundations subject to asset lock-up provisions and rules prohibiting the use of tax-transparent entities to avoid tax liabilities.

The bill passed Thursday also removes tax exemptions for income derived from short-term rentals and commercial leases, while tightening scrutiny on loans that may be used to conceal hidden profit distributions.

The bill now heads to the president for a signature.

• The rules are designed to ensure family ...