Reporting on the ownership structure of real estate companies and their shareholders in Poland

Last call reminder – until the 30th of September Polish real estate companies (RE Companies) and their shareholders shall disclose such information to the Polish Tax Authorities:

1. RE Companies – of their shareholders (direct and indirect);
2. Shareholders of RE Companies (being taxpayers in Poland) – of shares owned in RE Companies directly and indirectly.

Please note that within the reporting process you may experience multiple practical problems, such as:

• a lack of information on the full shareholding structure as the minimal level of shareholding in Polish RE Companies that shall be disclosed has not been indicated);
• authorization of respective personnel– only UPL- 1 form (a power of attorney required to submit e-tax returns) enables reporting on the ownership structure of both RE Companies and their shareholder, however UPL-1 needs to be registered with the Polish Tax Authorities, which can take about a week);
• as Tax Authorities are claiming, a shareholder of RE Company needs a Polish Tax Identification Number (NIP), while the NIP granting process can take event two weeks;
• amount of reporting to be done, such information might be of great importance even for relatively simple holding structures (as a tax return draft does not enable shareholders to multiply reporting data, e.g. a shareholder of RE Company has to report every shareholding in a separate return).

Keeping the above in mind, it is highly recommended to kick off / proceed with the reporting process as soon as possible to be able to meet the above deadline.

Should you face any obstacles in the reporting process please do not hesitate to contact us.