The experience gained by our specialists during our long term co-operation with the financial industry shows that the issues specific to financial services may have a significant influence not only on the entities operating in this industry but also on these in other industries of the economy. The products offered by financial institutions meet with a growing demand from entrepreneurs of other industries. In addition, many capital groups have established, within their structures, specialized entities to act as financial / settlement centers for the whole group.
In majority of cases, the Polish tax laws do not contain direct and precise provisions that would regulate the tax implications (both for financial institutions and their Clients) of entering the given financial transaction. In consequence, in practice, there is often a risk that the tax authorities will interpret the regulations differently than the taxpayer.
Taking the above into consideration and in order to meet the market demand, our consultants render complex tax consulting services in the scope of corporate income tax, personal income tax, VAT, civil law activities tax and international taxation aspects of, among others, the following instruments:
- derivatives;
- cash pooling – both notional cash pooling and zero balance cash pooling arrangements;
- complex cash liquidity management services rendered by specialized companies from a given capital group;
- bilateral and multilateral netting arrangements;
- repo, reverse repo, buy sell back, sell buy back and stock lending transactions;
- creation of tax optimization structures through securitization funds, in particular, identification of optimal method for transferring the bank’s portfolio of credit receivables to the funds;
- factoring and forfaiting;
- correct qualification of the tax consequences in the case of investments in complex international debt instruments, including products based on profit participation;
- debt to equity swaps and conversions of bonds into shares.
