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Changes in CFC regulations

We would like to bring your attention to new CFC (Controlled Foreign Companies) regulations which were passed by the parliament and will probably take effect as of 2022 CFC reconciliations: Extension of the definition of a foreign entity for CFC purposes (earlier: share in equity, profit or participation in company’s bodies of related parties of […]

Retrospective deduction of the input tax

In the tax ruling dated September 21, 2021, ref. 0112-KDIL3.4012.216.2021.2.MBN, the Director of the National Tax Information System (hereinafter: “DNTIS”) confirmed the taxpayer’s position that it is entitled to deduct input VAT on the outlays made in connection with the construction of a residential and commercial building, and the mere fact that taxpayer did not […]

October tax calendar in the Czech Republic

To avoid any threat of penalties calculated based on late submissions, or late payments, we summarized the crucial deadlines in October that should be taken into consideration with respect to your business in the Czech Republic: 11.10. – Excise duty due date, excluding excise duty on alcohol for August 202114.10. – Submission of Intrastat declarations in paper […]

What has changed in the “Polish New Deal” package in comparison to its initial version?

Please find below our brief summary: CIT/PIT Introduction of so-called minimal tax (amounting to 10% of tax basis) for companies and tax capital groups (i) which incurred operational loss or (ii) in case of which ratio of operational income to operational revenues does not exceed 1%; Decrease from 9% to 4.9% of non-deductible health insurance […]

The Polish Order introduces changes to transfer pricing

The draft Polish Governance Act introduces further changes to transfer pricing (TP): New penal fiscal sanctions failure to prepare local transfer pricing documentation, preparation of transfer pricing documentation not in line with actual background, failure to submit information on transfer pricing (so-called TPR form), or submitting information that does not correspond with the local transfer […]

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