CIT compliance for family foundations

Comprehensive tax support for family foundations

Family foundations, introduced into Polish law in 2023, have quickly become a popular solution for businesses seeking to secure their wealth across generations. From a tax perspective, they offer significant advantages. As long as the foundation retains its assets and does not distribute them to beneficiaries, it benefits from a corporate income tax (CIT) exemption. Taxation (15% CIT) only arises when the foundation makes distributions to beneficiaries or is dissolved.

Managing tax obligations for family foundations requires specialized expertise and a deep understanding of their unique structure and goals. CRIDO offers tailored solutions that ensure compliance, secures assets and support the long-term objectives of your foundation.

Scope of the compliance service

Our dedicated services for family foundations include:

Managing ongoing tax settlements – calculation of CIT, including identification of permitted and prohibited activities.
Managing PIT settlements for beneficiaries,
Preparation and submission of CIT-8FR declarations.

Benefits of our service

Specialized Solutions: Our services are designed to address the unique requirements of family foundations, ensuring optimal outcomes.
Asset Security: We develop strategies that protect and grow family assets, supporting multi-generational goals.
Efficient Compliance: From handling administrative requirements to ensuring adherence to legal frameworks, we streamline the entire process.

Why choose CRIDO?

At CRIDO, we understand the unique challenges faced by family foundations. Our bespoke solutions are created to align with your foundation’s specific objectives, providing end-to-end support from tax planning to compliance. We prioritize building lasting relationships with our clients, offering insights and strategies that safeguard your foundation and promote sustainable growth.

How we work

Initial Consultation: We start by understanding your family foundation’s goals, structure, and financial activities to identify its tax obligations.
Documentation and Filing: We handle the preparation and submission of CIT-8FR declarations, ensuring accuracy and adherence to deadlines.
Ongoing Support: We offer continuous assistance, including updates on changes to tax laws, and address any questions or challenges that may arise.

Additional support services

Advisory on Establishing a Family Foundation: analysis of tax benefits and risks, selection of the optimal asset structure, support with foundation registration and statute preparation.
Tax planning: structuring assets within the foundation in a tax-efficient manner, analysis of tax implications of benefit distributions, advisory on foundation investments (e.g., real estate, securities), risk assessment related to other tax measures (e.g., lock-up, exit tax, CFC).
Regulatory Updates: Regular insights on changes to tax laws affecting family foundations.
Training and workshops for founders and beneficiaries
Representation: Assistance during tax inspections or inquiries related to your foundation’s activities, support with individual tax rulings.

Partner with CRIDO to ensure your family foundation thrives while maintaining compliance with tax regulations. With our expert guidance, your family foundation can focus on preserving its legacy and achieving its long-term goals. Contact us today to learn more about our tailored tax solutions for family foundations.

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