The Law implementing FATCA passed by the Parliament

On October 9th 2015, the Parliament passed the final version of the Law on the enforcement of the FATCA Intergovernmental Agreement. The Act creates a legal basis to enable the execution of reporting obligations under FATCA Intergovernmental Agreement, which entered into force on 1st July 2015.

The Act contains regulations necessary for identification, collection, processing and transmission of information on financial accounts held by citizens or residents of the United States by the Polish financial institutions to the national tax administration. The acquired data will be subject to automatic exchange between Poland and the United States.

The Act will be sent to the President for signature.

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