TAURON established a Tax Capital Group

TAURON Polska Energia completed the process of registration of a Tax Capital Group which incorporates 11 companies from the TAURON Group. The Tax Capital Group Agreement has been signed for the term of three years (2012-2014) and was registered by the Head of the First Silesian Tax Office in Sosnowiec. 

“Establishment of the Tax Capital Group is yet another element of the advanced Group management model, in addition to implementation of the Group’s Code and centralized financing system. During the next three years we expect to benefit from implementation of this model which will simplify and improve the operations of the Group” said Krzysztof Zawadzki, Vice-President of the Management Board, CFO at TAURON Polska Energia.

 The TAURON Group’s benefits from establishment of the Tax Capital Group include the following:

• reduced risk connected with transfer prices between companies from the Tax Capital Group and no requirement to prepare transfer prices documentation;
• possibility to apply, as a Tax Capital Group, for individual interpretation of tax regulations concerning Corporate Income Tax;
• faster settlement of tax loses (if such occur) in companies that form the Tax Capital Group – tax loss in one company may be set off by tax income of another one during the same fiscal year.