Norwegian company intending to launch VAT taxed business activity in Poland is obliged to appoint a Tax Representative. Does your company require to appoint a Fiscal Representative? Non-Polish entities willing to carry out taxable supplies in Poland are obliged to register for VAT purposes regardless of their taxable turnover. Please keep in mind that the […]
Extension of deadline for submitting applications for co-financing of employees’ salaries
We would like to inform you that the deadline for submitting applications for the co-financing of employees’ salaries from the Guaranteed Employee Benefits Fund (GEBF) has been extended. The applications may be submitted until the 30th day after the date of the cancellation of the epidemic status. This change was introduced by “Anti-Crisis Shield 5.0” […]
Minister of Finance’s general ruling on a 50% rate of the tax-deductible cost of revenues for authors
According to the recently published general ruling of the Minister of Finance, tax-deductible costs connected with the use of copyright by authors and performers of related rights amount to 50% of revenue. These costs are calculated on income reduced by social security contributions. The ruling indicates the conditions under which it is possible to apply […]
Robotization relief – how to automate Polish entrepreneurs?
The Ministry of Finance plans to introduce tax relief for robotization and automation as of the second quarter of next year, at the latest in mid-2021. However, we are still waiting for a draft bill introducing this new solution. The main goals of the Polish legislator are: increase of the number of robots in industrial […]
Estonian CIT – the draft bill after consultation with business submitted to the Parliament
On 30 September 2020, a draft amendment to the CIT Act has been submitted to the Polish Parliament (the Sejm), which introduces a new system of income taxation for some companies – the so-called Estonian CIT. We wrote about its basic assumptions in the article here and the other one here. The new draft bill […]
Slovakia: Proposed changes in VAT taxation to be effective from 2021
VAT changes from 1 January 2021: On 26 August 2020 SK Government approved the proposal of the amendment to Act No. 222/2004 Coll. on VAT. The amendment transposes European law as regards certain value-added tax obligations for supplies of services and distance sales of goods, into local tax legislation. Proposed changes should come into force […]
Important amendments to CIT and PIT law in Poland
Please find below the most important changes which may affect your business in Poland: extending limited tax liability towards income from the sale of shares in real estate companies -> obligation of analysis of the structure of RE companies within 12 months prior to a transaction; partnerships (spółka komandytowa and spółka jawna in some cases) […]
CIT AND PIT IMPROVEMENT – LIMITED PARTNERSHIP COMPANY AS A CIT TAXPAYER
Limited partnerships are to become CIT taxpayers. This means that automatic compensation of income of one limited partnership with the loss incurred by another one at the level of partners of these entities will no longer be possible. Such structures will not be tax-effective anymore. This is the moment to consider other possibilities, to include […]
SLIM VAT – Changes, changes, changes…
The Ministry of Finance is intensively working on changes concerning VAT taxation. Despite numerous changes that entered into force from 1 January 2020 (Quick fixes, VAT rates matrix, changes concerning the so-called White List of VAT taxpayers)and changes that will enter into force from 1 October 2020 (so-called VDEK, complete change in the field of […]
Transfer pricing obligations across CEE countries (Poland, Czechia, Slovakia, Hungary) in 2019 – 2020
Transfer pricing regulations around the world grow at a fast pace as a result of the implementation of the Action Plan on Base Erosion and Profit Shifting (BEPS) developed by OECD in national tax environment recommendations. Local regulations introduce specific transfer obligations that are relevant exclusively for local entities, such as Transfer Pricing rules applicable for Polish CIT and PIT […]