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July 26, 2021

Poland announces plans to introduce an investment agreement for strategic investors

Executive summary

The Polish Government has announced plans to introduce a new measure – an investment agreement – for strategic investors, who would like to agree regarding a variety of tax consequences related to their investment.

The agreement (commonly referred to as “Interpretation 590”) concluded with the Ministry of Finance will set forth certain tax consequences of the investment that a given investor intends to carry out in Poland. It will be binding on the tax administration and should enable the business to obtain comprehensive tax clearance regarding its investment in Poland.

Key details of the Interpretation 590 are outlined below.

Detailed discussion

Based on the current proposal, the Interpretation 590 includes the following features:

  • Its objective is to provide flexibility, completeness, and comprehensiveness in determining the tax consequences of an investment project.
  • It is generally available to investors planning an investment in Poland worth at least PLN100 million (approx. US$26 million) and, from 2025 onward, PLN50 million (approx. US$13 million).
  • The agreement will be valid for the stated period , limited to five tax years (with a possibility to extend).
  • Separate applications to various tax authorities (e.g., individual tax rulings, advance pricing arrangements (APA), anti-GAAR clearance etc.) are not required, as all of these matters would be covered with one investment agreement.
  • The scope of information provided in the agreement should not be limited by the provisions of the Tax Code governing individual tax rulings. One agreement could cover all potential tax consequences of a given investment.
  • The agreement will be subject to a fee: PLN50,000 (approx. US$13,000 ) for an initial application and PLN100,000 to 500,000 (approx. US$26,000 to 130,000) after concluding the agreement (the fee will depend on the volume of the investment and scope of the investment agreement).

Next steps

The above changes reflect an increasing focus of the Polish Government to attract significant investments into Poland. The tax matters of strategic investors would be, according to the plans announced by the Government, covered by a special tax unit, the “Investor Desk”, which, along with other agencies focused on foreign investments in Poland, is intended to support significant investors passing through administrative requirements.

It is important to note that currently, even before the specific legislation is adopted, the tax authorities are often open to discussing strategic investments and providing support in applying formal measures which, with new provisions in place, should be even more common and accessible to investors.

The new legislation is expected effective as of 1 January 2022. Since the legislative process is only at its initial stage, further developments in this area should be monitored and actions taken to assess eligibility for the new measures.


For additional information with respect to this Alert, please contact the following:

EY Doradztwo Podatkowe Krupa sp.k., Warsaw

EY Doradztwo Podatkowe Krupa sp.k., Wroclaw

Ernst & Young LLP (United States), Polish Tax Desk, New York


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