Expected extension of deadline for first reporting of real estate companies

Under the current regulations 31 March 2022 is the deadline for fulfilling the obligation to report real estate companies and their shareholders. However, it appears that this deadline will be extended; a draft decree of the Minister of Finance has just been published providing extension of the deadline for reporting information on real estate companies until 30 September 2022.  

The extension is to apply to real estate companies whose tax or financial year ends between 31 December 2021 and 31 May 2022. 

The explanation to the draft decree recognises the problem of the lack of issuance of detailed regulations specifying the manner of sending information on real estate companies to the tax authorities. Another recognised issue is the provision of IT tools to taxpayers, including a form enabling the sending of information by electronic means of communication. The Ministry assumes that such tool should be developed and made available no earlier than May 2022. 

Despite the expected extension of the deadline, it is not worth postponing the analysis of companies in terms of real estate company status. This is because it may take time to determine precisely who is obliged to file the information and the scope of reporting. 

How can we help? 

• We will review companies to ensure they meet the definition of a real estate company as defined by tax law; 
• We will review the ownership structure of real estate companies to identify direct and indirect shareholders with reporting obligations; 
• We will prepare a list of information that should be collected in order to fulfil the reporting obligations; 

• We will complete the official forms (once published).