Poland proposes changes to family foundation law after 3 years

Poland's Ministry of Development and Technology has released a document outlining proposed changes to the country's family foundation law, three years after its implementation. The report, titled "Review of the Family Foundation Act," analyzes the law's functioning and presents 25 recommendations for legislative amendments.

The ministry's proposals include digitizing the foundation registry, clearly defining the founder's role, and introducing stricter tax regulations. These changes aim to prevent the misuse of family foundations for tax evasion and ensure they serve their intended purpose of wealth succession.

Currently, around 3,600 family foundations are operating in Poland. The recommendations stem from consultations with foundation representatives and tax experts. The ministry emphasizes that the goal of these foundations is to facilitate the transfer of assets across generations, not to serve as a tool for financial manipulation.