2007's Tax Challenges
February 1, 2007, International Tax Review
By Catherine Snowdon

Catherine Snowdon asked tax practitioners around the world about their expectations for the markets in 2007.

Janusz Fiszer, a tax partner at White & Case in Poland, gave an overview of the country’s outlook, noting that its problems are rooted in legislation, as well as unwillingness to change it. "The biggest challenges faced by the Polish tax market in 2007 are the lack of a coherent and consequent tax reform, the defective VAT law and increased taxation of shareholder loans or unrelated-party loans, said Fiszer.

Fiszer does not expect legislative changes in light of the Ministry of Finance’s announcement on January 17, and believes that “there may be some detrimental changes in the tax procedures and tax audit rules, and the chance that the procedures and rules may be made more difficult for the taxpayer can not be excluded."