- Transfer of business assets to a family foundation is not subject to VAT
- Interpretation issued by the Director of the National Tax Information on April 26, 2024
- The interpretation concerns the transfer of assets to a family foundation by a sole proprietor engaged in real estate rental and leasing
- The transfer includes real estate ownership rights, lease agreements, management agreements, insurance contracts, utility supply contracts, and cleaning service contracts
- The family foundation intends to continue the rental or leasing business unchanged
- The transfer will be made as a one-time legal transaction
- The definition of “business” is provided in the Civil Code and includes various tangible and intangible assets
- The definition of “organized part of the enterprise” is provided in the VAT Act and refers to a financially and organizationally separate part of an existing business
Source: prawo.pl
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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