WPŁYW OPODATKOWANIA NA WYBÓR FORMY INWESTYCJI BEZPOŚREDNIEJ W POLSCE
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Date
2003
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Wydział Prawa i Administracji UAM
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TAXATION AND CHOICE OF DIRECT INVESTMENT FORM IN POLAND
Abstract
The paper makes a comparison by means of the net terminal value method the current
tax charges of two basic forms of direct investment, i.e. partnership/branch and company. The
analysis shows that in the case of a German private businessman or partnership in Poland it
is generally more advantageous in terms of tax to establish a partnership/branch than a company.
This refers especially to highly profitable investments (i.e. yielding high profits in terms
of absolute figures), since the size of the unwelcome progression effect is limited. Also in the
aspect of e.g. loss settlement a partnership/branch has the benefit to settle the loss in Germany,
which is beneficial due to the negative progression effect.
The profitability of a certain investment project should not, however, be judged solely on
the basis of the current taxation. During tax planning one should allow for a number of other
factors, e.g. shape of mutual contractual relations (transfer prices), method of financing, dividend
policy, taxation on occasional events, organizational structure, etc.
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Ruch Prawniczy, Ekonomiczny i Socjologiczny 65, 2003, z. 2, s. 73-83