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6/22/13

Poland - Banking Sector: Finance Ministry wants more information about bank accounts

Poland's Finance Ministry wants to increase the range of information that financial institutions will be obliged to give to tax authorities, Deputy Finance Minister Maciej Grabowski stated in reply to an MP's query. The new rules are meant to limit tax fraud, he said.

According to the draft law prepared by the Finance Ministry, financial institutions will have to provide information about an account's plenipotentiaries, inflows and outflows with data on the senders and receivers of the money.

In addition to that, banks would have to reveal all the details regarding loans, bank deposits and even bank lockers rented by tax payers. Tax authorities would be able to get every information from financial institutions if they deem it helpful to evaluate tax statements.

Currently banks, credit unions, brokerage houses and investment funds are obliged to give information about customers' accounts to tax authorities, but the range of information is very limited, Mr Grabowski said.


Read more: Finance Ministry wants more information about bank accounts - Warsaw Business Journal - Online Portal - wbj.pl

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