Don’t burn down the forest

Small talk
Paweł Toński, the managing partner of Warsaw-based tax, legal and transactional consultancy Crido delves into the issue's surrounding the introduction of the Polish government's controversial tax reforms that form part of its 'Polski Ład' ('Polish Deal') and what they mean for the real estate market - as well as where we are (if anywhere) with getting REITs established in this country
What’s your assessment so far of the new Polish Tax Deal, a year after its introduction? Paweł Toński, managing partner, Crido: If I was only going to talk about the intentions behind their introduction, they’re not all that bad. The Polish Deal was aimed at changing the proportion of the tax burden borne by different social groups and in Poland it’s still the case that the well-off are taxed relatively lightly. So, from an economic point of view, the Deal is targeted at improving the lot of those whose lives, for various reasons, have gone relatively badly. But that’s all from the conceptual point of view. However, the way in which the new laws have been introduced, both in practice and in terms of PR, has been a disaster. The vast majority of the regulations that make up the Polish Deal have been written into the tax system in a very clumsy manner. This could be seen straight away and everyone pointed it out, but the Ministry of Finance and the politicians
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