Breaking the prevailing approach of administrative courts, the Supreme Administrative Court (SAC) recently issued a judgment (ref. No II FSK 2627/20), in which it indicated that the costs of interest on a loan for the purchase of shares should be recognized as indirect costs (i.e. costs not directly related to any source of revenues) and […]
Changes in VAT reporting
From July 1, 2021, the amended provisions of the Regulation of the Minister of Finance, Funds, and Regional Policy on the detailed scope of data included in tax declarations and records in the field of VAT were applied. The amendments are in some cases clarifying, while in others are fundamental, introducing new rules for marking […]
Changes within the framework of the Polish New Deal may also affect transfer pricing
On the website of the Ministry of Finance (MF) has been published another package of legislative proposals in connection with the announced Polish New Deal. This time, the proposals of the MF will concern transfer pricing. In principle, the aim of the proposed changes is to make it easier for taxpayers to meet their transfer […]
A new innovation package for entrepreneurs
A draft of the tax act has been published to introduce a tax relief system for companies in CIT and PIT. The system of reliefs is intended to encourage entrepreneurs to innovations and will include the following elements: research and development relief supporting works on a new product, service, or process; relief for employing innovative […]
Repatriation Program
The Ministry of Finance presented details of the so-called Repatriation Program, which aims at (i) encouraging Polish citizens to return to Poland and (ii) creating favorable conditions for investments and family business in Poland. Below we present the main assumptions of the Program. Relief for return Individuals living and working abroad for at least 3 […]
“Cashless Taxpayer” program
The Ministry of Finance presented the “Cashless Taxpayer” program. These solutions shall enable the taxpayer to take advantage of the tax relief for the purchase and use of the cashless terminal plus will be entitled to a VAT refund within 15 days. There are two packages in the program – Silver and Gold. Silver package […]
“Polish Deal” – detailed solutions – Interpretation 590, VAT groups, VAT taxation of financing services
On 14 June Ministry of Finance presented details about some of the solutions included in, so-called, Polish Deal. We described the general assumptions of the program in the article – “Polish Deal” – the announcement of major changes in taxes. Service Center at the Ministry of Finance (Investor’s Desk) The Ministry of Finance is going […]
SLIM VAT 2 – the second installment of changes
The Ministry of Finance intensively works on changes concerning VAT taxation. Despite changes that entered into force from 1 January 2021 (➡ read more about SLIM VAT changes) further changes will be implemented to the domestic regulations in the next months as e-commerce regulations, National e-Invoicing System or new regulations related to the VAT group […]
WHT regime postponement in Poland
On 11 June 2021 draft regulations introducing the postponement (for the sixth time!) of the mandatory WHT pay-and-refund regime until 31 December 2021 were published on the RCL website. As the Ministry of Finance clarifies, the postponement results from the exceptional conditions of the COVID-19 pandemic, which makes it unreasonable to burden payers and taxpayers […]
Import One-Stop-Shop (IOSS)
Since July 1, 2021, new EU VAT regulations the so-called e-commerce package related to the supplies for EU consumers will enter into force in the territory of the European Union (EU). As a result of the changes, VAT exemption for the import of goods in shipments with a value not exceeding EUR 22 will be […]