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 […]
Change in the VAT regulations related to the simplification in the import of goods
According to the current provisions of the Polish VAT Act, the preferential VAT settlement directly within the VAT returns is available only for some entities – the entrepreneurs which meet the conditions of the simplified procedure and for the authorized traders so-called AEO. On average, several thousand importers use this option on a monthly basis, mainly large domestic and foreign companies, which can meet the conditions for admission to the simplified procedure […]
The deadline for submitting IFT-2R has been extended
On 29 May 2020 the new Regulation has been issued by the Minister of Finance as regards the IFT-2R information, i.e. information on the amount of revenue (income) generated by taxpayers of corporate income tax having no registered seat office or management board in Poland. In accordance with the new Regulation the deadline for submitting […]