Dr Ewelina Stobiecka

radca prawny

I’ve been supporting entrepreneurs for almost twenty years in resolving commercial disputes in and out of court. I represent my clients as an attorney and negotiator and also act as a commercial mediator...
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Tax consequences of potential settlements of banks with CHF borrowers

Ewelina Stobiecka20 May 2021Comments (0)

Mediacja w sprawach podatkowychThere is an excellent article in today’s Rzeczpospolita with my commentary on the tax implications of potential settlements in CHF borrowers cases

The tax office confirmed in an individual interpretation that currency conversion of credit does not create revenue. This interpretation confirms that in the case of such redemption, no tax is due, and the bank does not issue PIT-11 forms for borrowers, informing them of the income achieved. However, this only applies if the bank is able to obtain confirmation from the borrowers that they used the loan for their housing purposes. They should also declare that they have not already taken advantage of the PIT exemption for the forgiven loan once.

The interpretation of the tax office regarding the conversion and write-off of the loan definitely clarifies the situation of both the borrower and the bank regarding the potential tax consequences of the settlements. This gives both parties clarity on the tax treatment of potential loan conversions, which could be a key element of the settlements.

The current confusion surrounding the long-awaited Supreme Court ruling and the anticipation of additional opinions that the Supreme Court wants to seek before making a resolution has prompted many CHF borrowers who have delayed filing suit to initiate the proceedings. Especially as one of the banks has already indicated that it would first like to offer settlements to clients whose cases are already in court.

It seems that the additional time needed to wait for the Supreme Court’s resolution does not serve either the potential parties to such settlements (banks and their clients) or the justice system itself, which is already overburdened not only by the wave of lawsuits filed right after the famous judgment of the European Court of Justice in the case of Mr and Mrs Dziubak, but also by the “backlog” of proceedings caused by the pandemic.


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