Poland adopts FATCA

Sejm passed a bill adopting the American FATCA (Foreign Account Tax Compliance Act), according to which Poland and US will transmit tax data. Both countries will notify themselves about banking accounts and revenues of tax residents.

As many as 309 parliament members voted for, 6 were against the adoption of FATCA.

The bilateral agreement regarding the implementation of the new law was signed on October 2014. The agreement is to be ratified by the president.