The Ministry of Finance presented a draft bill introducing the new tax, referred to as advertising contribution. The tax will be imposed solely on particular types of activities – online advertising and traditional media business. Advertising tax in Europe By introducing this new charge Poland follows the example of a number of OECD and European […]
Proposals of tightening fiscal penal responsibility in Poland – suspension of the limitation period and increase of ticket fine
Suspension of the limitation period Currently, the length of limitation periods are: for fiscal transgressions: 1 year (regarding diminishment of tax receivables up to PLN 14k); for fiscal offences: 5 years (regarding diminishment of tax receivables exceeding PLN 14k), punishable by a fine, a penalty of restriction of liberty or penalty of imprisonment up to 3 years; for fiscal offences: 10 […]
New statistics on Advance Pricing Agreements (APA) applications
At the end of January, the Ministry of Finance (MF) published the most up-to-date statistics related to the Advance Pricing Agreements (APA) procedure. Updated as of 31 December 2020, the data summarises already 15 years of this legislation in Poland. For several years, the number of pricing agreements concluded by the MF with taxpayers has […]
Anti-crisis Shield 7.0 – Additional aid for entrepreneurs available from 1 February 2021
The Regulation of the Council of Ministers of 19 January 2021 on support for economic participants affected by the COVID-19 outrage introduce 4 forms of support for entrepreneurs: (i) job protection benefits, (ii) additional stoppage refund, (iii) one-off subsidy, (iv) exemption from social security contributions. Protection package is addressed to companies operating in the most […]
Real Estate Tax (RET) Review
Recently we noticed an increased activity of local tax authorities regarding the verification of correctness of calculating, declaring and paying the real estate tax. This tax constitutes a significant part of revenues of local governments which, like by entrepreneurs, in the era of COVID decreased. The verification very often ends up with the necessity to […]
New positive opinion on the application of General Anti-Abusive Regulations (GAAR) to a set of restructuring activities
On December 10, 2020, the tax authorities issued an opinion (ref. DKP3.8011.15.2020) on the application of General Anti-Abusive Regulations (GAAR). The opinion was favourable for the applicants. What kind of activities was the subject of the opinion? Envisaged operations encompassed (i) share for share exchange, (ii) transformation of companies into limited liability partnerships and (iii) […]
Further significant changes to the TPR-C form
The Ministry of Finance[1] (MF) is not slowing down in carrying out work aimed, as declared, at more effective prevention of understatement of taxable income in the area of transfer pricing. Changes in TP introduced shortly before the end of the year are unfortunately becoming a tradition. This time, taxpayers filing transfer pricing information (TPR-C) […]
New anti-abusive regulations – tax losses
Most important amendment in CIT and PIT for 2021 was a change of personal income tax liability of partnerships. So far they were tax transparent but suddenly they become – or will become shortly – tax opaque. However, this is not only a negative modification of the Polish tax law introduced this year. It is […]
VAT in the CEE – the most important changes in 2021
Take a look at the changes: __ Poland SLIM VAT – changes in Poland as of January 2021 SLIM VAT is a package of changes which should make the VAT easy to use, adapted to the local specificity of the country in which it operates. The SLIM VAT package implements the changes to VAT as […]
SLIM VAT – changes in Poland as of January 2021
SLIM VAT is a package of changes that should make the VAT easy to use, adapted to the local specificity of the country in which it operates. The SLIM VAT package implements the changes to VAT as of January 2021. What is changing? Major amendments are easily described below. Simple invoicing The sale invoice corrections […]