"DGP": The government is preparing an investment carrot

"DGP": The government is preparing an investment carrot

More than 20 tax and regulatory changes and simplifications are to help attract capital to Poland and support domestic business in the development and foreign expansion. The presentation of such a government strategy is scheduled for the turn of September and October, informs Dziennik Gazeta Prawna.

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The newspaper estimates that by introducing such solutions "the government wants to run forward and use the pandemic to improve the business environment in the country". "The idea is not only to transfer production to Poland but also to use the growing potential to take over services from other countries" - says the informant of the daily.

 

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The government's strategy - as reported by "DGP" - is to be based on four pillars. However, the details of the proposed solutions are still being worked on.

The first pillar concerns the repatriation of Polish capital that emigrated abroad. "In order for this plan to succeed, the government is thinking, among other things, about creating a program for Poles who have property or hidden income abroad. They will be able to return to the country with them and will not be prosecuted by the tax office. The condition will be that they invest the funds covered by There are also to be provisions on family foundations, income tax relief for those returning from abroad or incentives for the richest not to escape taxation abroad "- writes the daily.

The second pillar concerns strategic investors. "This will be a new concept in Polish law. Here, among others, VIP passports for the largest companies will appear, which will incur in Poland expenditures of at least PLN 1 billion or create 1,000 jobs. They will gain a simplified path of administrative proceedings. this is expected to be beneficial solutions for holding companies, the option of VAT taxation for financial institutions or the creation of VAT groups, as is the case in CIT. Special interpretations are also planned. to give confidence in doing business "- describes the government's plans.

According to "DGP", the next two pillars will contain ideas that the government has already shown and announced that they will enter into force from 2021 - such as the so-called Estonian CIT or robotization relief. "There are also supposed to be reliefs for prototypes or support for the employment of innovative employees. In order to obtain capital or a competitive advantage, it will be possible to take advantage of the relief for debut on the stock exchange, indirect tax support in foreign expansion or consolidation relief for companies that will form groups. "- we read.

"DGP" also explains - following its interlocutors - that many of these solutions operate in other EU countries or are recommended by institutions such as the International Monetary Fund (PAP).