Please be informed that in Poland from 1 July 2020 with respect to the intra-Community supply of goods (hereinafter: “ICS”) and the right to 0% VAT rate the new VAT regulations so-called „Quick fixes” came into force. These changes follow from an amendment to EU Directive and EU Regulation governing VAT on intra-community transactions. In […]
Anti-crisis Shield 4.0 – bad debt relief and the so-called minimum income tax
On June 24, 2020, the so-called anti-crisis Shield 4.0 regulations entered into force introducing to the acts on income taxes i.a. an episodic exemption from the tax on revenues from buildings and shortening the period after which a taxpayer is entitled to take advantage of the so-called bad debt relief. Exemption from tax on revenues from buildings New […]
On 11 June 2020 the Court of Justice of the European Union passed a significant ruling in the Portuguese case C-43/19 (Vodafone Portugal – Comunicações Pessoais SA)
The background of the case The object of Vodafone, a company established in Lisbon (Portugal), is the supply of electronic communications services, fixed telephony, and wireless internet access. In the context of its business activities, Vodafone concludes with its customers services contracts, some of which include special promotions subject to conditions that tie those customers […]
Changes in taxes in Poland from 1 July 2020 – summary
Beginning from 1 July 2020 the following tax changes enter into force in Poland: Change of provisions concerning the so-called White List (resulting in changes in PIT, CIT and VAT) Making payments using a split payment mechanism (MPP) to a bank account not included in the White List does not generate a risk in income […]
The never-ending story about Fixed Establishment (FE) in Poland
We have already written about the FE issue in Poland on our website! (Read the article here). As proof of the existing problem about the FE in Poland, please find the new facts below. In June 2020 one of our foreign clients with the Polish VAT registration has received a negative tax ruling regarding FE […]
Chain transactions in VAT – new rules, old risk
Beginning from 1 July 2020, new regulations regarding the taxation of the so-called chain transactions will come into force in Poland. What are chain transactions? A chain transaction occurs when goods are sold successively by several sellers, but their transport takes place only between the first and last entity in the chain. Correct taxation of […]
PFR Financial Shield – time to support Large Enterprises
European Commission has approved the last part of the Polish Financial Shield program for large enterprises and certain medium-sized enterprises (SMEs) in connection with COVID-19 outbreak. Application may now be submitted via a form provided by the PFR (Polish Development Fund). Overall budget of PFR Financial Shield Support Scheme for Large Enterprises amounts to approximately PLN […]
The government plans to revolutionize CIT in Poland –so-called Estonian CIT to be introduced
The Ministry of Finance plans to implement in 2021 so-called Estonian CIT The main purpose of the planned changes is increase of investments in Poland, since funds reinvested will not be taxed until they are paid out to shareholders. The solution may be used by about 200k companies in Poland. The concept of the new […]
Anti-crisis Shield 4.0
The Parliament (Sejm) adopted on 5 June 2020 the so-called Anti-crisis Shield 4.0. The bill is to be voted in the Senate. Below we present the most important assumptions of it. Micro-loan The entrepreneur’s obligation to submit an application for loan remission will be lifted – the district employment agency (PUP) will exempt from this […]
First amendments to the tax provisions as of 1 July 2020
On 28 May 2020 Polish Parliament passed a bill containing: the provisions implementing EU regulations, so-called “Quick Fixes” package (hereinafter referred to as “QF”); the CIT system tightening provisions implementing Council Directive (EU) 2017/952 as regards hybrid mismatches with third countries (hereinafter referred to as: “ATAD 2 Directive”); completion of the transposition of Council Directive […]