The Head of the Tax Chamber in Warsaw in a separate interpretation of September 2, 2009 (file no.: IPPB2/436-241/09-2/MZ) confirmed that a cash pooling contract is not a loan agreement and, therefore is not subject to the tax on civil law transactions. Cash pooling is a contract on consolidation of bank accounts of entities of one capital group, which consists in joint balancing of debits of bank accounts of all participants of the system and in representing all participants towards the bank keeping the accounts by the so-called leader. Under a cash pooling contract, entities may draw obligations from the joint balancing account and they pay financial surpluses into this account. In the opinion of tax authorities, since such a contract  has not been listed in the list defined in Article 1 item 1 of the Act on Tax on Civil Law Transactions, it is not subject to the provisions of  the Act. In particular, a cash pooling contract is not a loan agreement because, even though the two types are slightly similar, the cash pooling contract does not include all statutory criteria of a loan as defined in Article 720 of the Civil Code. 
Contact person: MirosÅ‚aw Stefanik, ms@pnplaw.pl