Swiss franc loans settlements – new information has emerged regarding the tax implications of settlement agreements related to Swiss franc loans. Do all payments received under such agreements qualify for tax exemptions? What should you be cautious about when negotiating a settlement with a bank? How do tax authorities interpret the regulations? Recently, an article was published in Rzeczpospolita, featuring a comment by Piotr Sekulski, PhD on this topic.
The article, available via this link , provides numerous valuable insights into what to watch out for when negotiating Swiss franc loans settelment.
tax advisor Piotr Sekulski, PhD
“– It’s difficult to argue against these interpretations, as amounts paid in exchange for waiving claims are not covered by exemptions or tax reliefs. One might consider reducing the taxable income by deducting costs, such as legal service expenses, since tax is calculated on income, not revenue. However, I fear the tax office would, at best, require some sort of proportional calculation (…)”
tax advisor Piotr Sekulski, PhD
“–The refund of funds previously paid to the bank does not constitute a gain in wealth. There is no taxable income from such a refund, so you don’t need to worry about PIT in this context (…)“
If you are interested in the tax implications of Swiss franc loans settlements or wondering whether you will need to pay PIT, visit us at www.outsourced.pl .
