On 15 July the European Commission (EC) adopted a new tax package (Tax Package) to ensure that the EU tax policy supports Europe’s economic recovery and its long-term growth. The aim of the Tax Package is to reduce unfair tax competition and increase tax transparency through simplifying tax rules and procedures. The adopted Tax Package […]
The last moment to apply for a subsidy from Financial Shield
We remind that only until 31 July 2020 taxpayers may submit an application for a subsidy from Financial Shield for micro, small and medium-sized enterprises. At midnight on 31 July forms dedicated for subsidies from Polish Development Fund (PFR) will disappear from bank transaction websites – the Polish government has not decided to extend the […]
MDR: new deadlines and modified reporting rules
On 30 June 2020 new Regulation of the Minister of Finance on the extension of certain deadlines related to transfer of information on tax arrangements and exchange of tax information with other countries (the MDR Regulation) entered into force. The MDR Regulation also extends some of the deadlines set out in the Act of 28 […]
Quick Fixes in Poland
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 […]