The ministry said the Finance Ministry has begun work on reforming Poland’s transfer pricing regulations. The goal of the project is to increase the competitiveness of Polish regulations and to increase the effectiveness of electronic reporting (TPR).

“In recent years, the importance of transfer pricing has grown exponentially as an important – reasonably separate – part of each country’s tax policy and tax administration. We are launching a project whereby, in collaboration with the OECD and the European Commission, we will lay the foundations for further pricing reform. Transformation in Poland, in particular strengthening the reporting and analytics area ” – said Deputy Finance Minister Jan Sarnovsky, in the statement.

Poland has established cooperation with five countries recognized as leaders in terms of competitiveness of transfer pricing systems. Poland’s partners in the implementation of the project are Great Britain, Germany, Sweden, the Kingdom of the Netherlands and the United States. The report stated that experts from these countries will exchange their experiences and technological solutions with representatives of the ministry.

“In the course of working on the project, representatives of the Ministry of Finance will lead a team consisting of representatives of countries that have for years held the leader’s yellow jersey in terms of modern regulations and effectiveness of reporting and analysis. Representatives of Germany, the Netherlands, Sweden, Great Britain and the United States will support us with their knowledge. The participation of representatives from many countries shows In the project, the beneficiary of the Polish Ministry of Finance, fully understood the idea of ​​sharing good practices and joint efforts to build a tight and robust tax system and taxpayers in the TP region of Poland, the European Union, Poland and the world ” Sarnowski added.

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The project “Strengthening the legal system of transfer pricing against tax evasion behavior” is implemented entirely from EU funds (the so-called Technical Support Tool, TSI), and assumes the analysis and evaluation of the legal regulations in force in Poland in the field of transfer pricing, including electronic reporting obligations as part TPS information.

The project will run for approximately two years.

Source: ISBnews