11:20 28 December 2024
Poland’s Property Tax Changes: A Wake-Up Call for Foreign Investors
Starting January 1, 2025, Poland will implement significant changes to its property tax regulations, a move expected to impact commercial property owners, including foreign investors. The amendments redefine key terms such as "buildings" and "structures," potentially reclassifying some properties and leading to higher tax rates. These changes aim to address challenges in effective tax enforcement.
Experts urge foreign investors to carefully review their property portfolios in light of the new legislation. Conducting thorough audits will be critical to understanding how the changes apply and adjusting budgets for 2025 accordingly.
“This isn’t just another routine property tax return. Businesses must ensure all properties are accurately identified, inventoried, and assessed under the revised regulations,” Szymon Mojzesowicz (MRICS, ASA) of Lege Advisors, explained.
Mistakes could lead to penalties, including interest on tax arrears or even fiscal offenses. Particular attention should be paid to the updated appendix listing taxable structures, which could significantly alter tax liabilities. Larger enterprises may require external valuation specialists to comply fully with the new rules.
(WBJ)
