May marked the one-year anniversary of the family foundation legislation. The interest in this form of protection and accumulation of assets has exceeded the wildest expectations of its creators. Media reports suggest that almost 2,000 applications for registration had been received during this time, with more than 1,000 entities being registered.
At the same time, entrepreneurs setting up family foundations have recently been electrified by information on changes to the rules of their taxation planned by the Ministry of Finance.
- What are the reasons for and directions of the planned changes?
- Do the new proposals of the Ministry of Finance pose a threat to currently operating family foundations?
- Will the changes result in a decline in the popularity of this form of asset protection?
- Will the new regulations also cover other, non-tax aspects of foundations’ operations?
We will be answering these and other questions on 26 September at a meeting devoted to family foundations, covering how they have operated to date and the direction towards which the planned changes of the Ministry of Finance are heading.
We will also be looking at the practical aspects of the process of establishing and organising a family foundation and clarify doubts that have arisen against the background of the current legislation. We will also present specific problems and the existing body of tax case law in this area.
We invite you to join the discussion.
AGENDA
Capital
- What a family foundation is for and what you need to do to set one up
- Beneficiaries of a foundation
- If not a family foundation, then what
- What to do to make it work, or how to structure a family foundation to meet its objectives
- How to run a business under a foundation
- Restrictions on permissible business activities (interpretation of the regulations)
- Pros and cons of a family foundation from a business perspective
Taxation
- A brief overview of the rules for taxation and distributions from family foundations (CIT and PIT)
- Planned changes to the taxation rules for foundations and the reasons for them
- Interpretation practice of the tax authorities including, inter alia, the issue of the establishment of a family foundation by spouses or the contribution of shares in foreign companies.
Q&A session
Speakers:
Who is this event for?
For those who have set up or are considering setting up a family foundation, are engaged in activities that are exposed to personal liability and are thinking about securing private assets, and professionals who are or may be involved in the legal or accounting services for a family foundation.
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Participation in the event is free of charge, subject to registration and application acceptance. The organiser reserves the right to select applications and also to cancel the event.
The link to the online transmission will be sent to participants the day before the meeting.