The Ministry of Finance presented a package of simplifications in value-added tax so-called SLIM VAT 3 (Simple Local And Modern VAT). Planned changes are divided into 7 areas: impact on the financial liquidity of companies; less formalities in VAT in international trade; extension of the scope of VAT exemptions; changes in VAT settlement; changes in […]
Close deadline for submission of CBC-P notification
Pursuant to the Act on Exchange of Tax Information with Other Countries, the obligation to file a notification on form CBC-P applies to an entity that: has its registered office or management board in Poland or has its registered office or management board outside of Poland, but conducts business activity in Poland through a permanent […]
Draft Directive for preventing the misuse of shell entities (ATAD 3)
On 22 December 2021, the European Commission published a draft EU Directive (2021/0434 (CNS), called ATAD3. ATAD 3 is a key initiative to fight against the misuse of shell entities, i.e. entities without sufficient business substance to obtain unjustified tax benefits. The directive defines the criteria – so-called substance conditions – for additional reporting obligations. In […]
Binding Tax Information and the VAT rates changes in the Anti-Inflation shield 2.0
The so-called Anti-Inflation Shield 2.0 temporary reduced the VAT rates in the period from February 1, 2022, to July 31, 2022. In consequence, it means the expiration of the Binding Tax Information (WIS) issued for goods subject to rate reduction from February 1, 2022. Changes in the scope of VAT rates covered by Shield 2.0 […]
Repentance letter in case of correction of the JPK_V7M / 7K files corrected
From January 1, 2022 thanks to the amendment to the provisions of the Penal Fiscal Code introduced by the Act dated on October 29, 2021, amending the act on personal income tax, the act on corporate income tax, and some other acts, the so-called “The Polish Deal” (we informed about the amendment in the article […]
Lower VAT rates in Poland
As of 1 February 2022, the so-called Anti-Inflation Shield 2.0 came into effect, as a further measure, following the so-called Anti-Inflation Shield 1.0, in force since 1 January 2022, taken to mitigate the effects associated with rising inflation. Both acts introduce a temporary reduction of VAT rates on certain goods. Details of the VAT reduction […]
The new deadline for INTRASTAT reporting as of Jan 2022
The Customs Department of the Ministry of Finance informed that INTRASTAT statistical declarations, starting from the January declaration until further notice, may be submitted by the 15th day of the month following the reporting period. Submitting a statistical declaration for a given month between the 10th and the 15th of the following month will not bring […]
Tax calendar for February
To avoid any threat of penalties calculated based on late submissions, or late payments, we summarized the crucial deadlines for February 2022 that should be taken into consideration with respect to your business in the Czech Republic: 09.02. – Excise duty due date, excluding excise duty on alcohol for December 2021, 14.02. – Submission of […]
SAF-T_V7M/7K as of January 1, 2022 – What’s new?
We would like to inform you that from January 1, 2022, the new variants of the SAF-T_VAT logical structure with a declaration – SAF-T_V7M (2) for monthly reporting and SAF-T_V7K (2) for quarterly reporting, came into force. The updated file structures take into account not only a number of legal changes that came into force […]