The first PV and wind farms are created by direct and indirect investments of household foundations.
According to Tomasz Brzeziński of BiznesAlert.pl, the full value of these installations is at least respective twelve million PLN. And there will be more.
To overthrow the veto the current ruling coalition does not have much chance in the Sejm, so the bill of 26 January 2023 will be in the legal order.
The president of Poland, Karol Nawrocki, vetoing the amendment of the household Foundation Act prepared by the Ministry of Finance last week, can service to further investments in RES in Poland. Paradoxically, due to the fact that photovoltaic farms, especially wind turbines, are not necessarily liked by him. On the overthrow of the veto, the current ruling coalition does not have much chance in the Sejm, so the bill of 26 January 2023 will be in the legal order. Based on it, household foundations are increasingly investing in fresh zero-emission production installations, thus contributing to the transformation of Polish energy.
Green business improvement or aggressive optimization?
According to Brzeziński, the household foundation was to be a solution supporting (re)investments of Polish investors and entrepreneurs. It allows to get exemption from the payment of a 19% CIT taxation on profits each time after the sale of assets (shares, shares in companies). As a result, more money was to be spent on further investments. In addition, the funds transferred to beneficiaries are taxed at a lower, or 15% taxation (CIT).
However, under current governments, household foundations have been utilized for aggressive taxation optimization (shares, for example companies listed on the WSE, were frequently sold after a fewer days). Therefore, the Ministry of Finance wanted to introduce a three-year lock-up, which was paid free of charge to the foundation by the funder or acquired by it from a related entity if specified an exemption were to be granted. After the presidential veto, the taxation offices will have more work to do in chasing frauds, but honest entrepreneurs/founders will be able to invest more effectively in business development. Contributing to the transformation of Polish energy.
