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 […]
First amendments to the tax provisions as of 1 July 2020
On 28 May 2020 Polish Parliament passed a bill containing: the provisions implementing EU regulations, so-called “Quick Fixes” package (hereinafter referred to as “QF”); the CIT system tightening provisions implementing Council Directive (EU) 2017/952 as regards hybrid mismatches with third countries (hereinafter referred to as: “ATAD 2 Directive”); completion of the transposition of Council Directive […]
The deadline for submitting IFT-2R has been extended
On 29 May 2020 the new Regulation has been issued by the Minister of Finance as regards the IFT-2R information, i.e. information on the amount of revenue (income) generated by taxpayers of corporate income tax having no registered seat office or management board in Poland. In accordance with the new Regulation the deadline for submitting […]
Real Estate Sector in CEE – Poland / Slovakia / Czech Republic / Hungary
In the recent 20 years, CEE countries have been increasingly attracting the attention of investors from the real estate sector worldwide. The answer to the question “why?” becomes quite obvious when you dig into details of the level of yield in particular countries of Europe. Investors prefer to locate their funds in our region since […]
Comparison of CIT-TP and TPR – Part 1: General information
The purpose of this publication is to summarize basic differences between CIT-TP form (submitted by larger taxpayers in recent years) and its new equivalent – TPR form. A wider range of related parties will be required to submit the TPR form. In the publication, we compare the two forms based on regulations of the Corporate […]
Changes in PIT, CIT, VAT and Tax Ordinance Act – to make everyone’s life better
On 6 May 2020 the Parliament (the Sejm) adopted a draft bill amending PIT, CIT, VAT Acts, and the Tax Ordinance Act. Among proposed changes are in particular: the possibility of making payments on bank accounts not indicated on the so-called White List and adapting the PIT and the CIT Acts to the Polish Classification […]
Promoting R&D – Poland| Slovakia | The Czech Republic | Hungary
For a few latest years, many developed and developing countries have been promoting R&D activities. The surge in R&D expenses is however not unexpected – most economists agree that this is the only way to avoid the middle-income trap. Leaders in this field in 2018 were: Israel, South Korea, Taipei, Sweden, and Japan: R&D in […]
Anti-Crisis Shield 3.0 already in force
The so-called Anti-Crisis Shield 3.0 regulations have entered into force on 16 May 2020. Please find below a summary of the most important changes. SOCIAL SECURITY CONTRIBUTIONS Extension of the exemption – individuals conducting business activity and paying social security contributions will be allowed to benefit from social security contributions’ exemption for April and May […]
Taking into account the issued corrective tax invoices in VAT returns
A new amendment to Act No. 235/2004 Coll. on value-added tax will come into effect as of 1 April 2019. This amendment permits, among others, to take into account issued corrective tax invoices (credit notes) in VAT returns. Within the time limit for the issue of the relevant tax document, the payer shall use appropriate […]