The announced draft changes to the Act on the National Revenue Administration aims at providing new tools for National Revenue Administration (NRA). Warning about suspicious entities Tax authorities, in the course of their daily activities, collect a broad spectrum of information from all of the taxpayers. The proposed changes include a new competence for the Head of […]
New Tax Deal in Poland – real estate sector
The draft version of tax changes presented by the Ministry of Finance under the so-called “Polish New Deal” act introduces a number of modifications important for real estate companies. Most of the planned regulations are expected to enter into force as of the tax year 2022. Below we present some of the major issues that […]
Tax strategy – is your business ready for this change?
According to the Ministry of Finance announcements the obligation to prepare a tax strategy, initially planned already for 2020 CIT settlements, will be postponed and apply to CIT reconciliations for 2021 onwards. The strategy is a collection of information about the taxpayer’s tax management, cooperation with the tax authorities, specific transactions and business reorganizations as […]
The Polish New Deal – VAT changes
The Polish Ministry of Finance intensively works on changes concerning VAT taxation. In July 2021, the draft amendment to the Polish tax regulations so-called “the Polish New Deal”, including also changes in the VAT Act was published. New VAT regulations are going to be implemented to the domestic tax system since January 1, 2022. Please […]
Amendment to the VAT Act relating to e-commerce rules
As of 1 July 2021, an amendment to the European VAT Directive, which relates to electronic commerce (so-called e-commerce), is in effect. As of 1 July 2021, an amendment to the European VAT Directive, which relates to electronic commerce (so-called e-commerce), is in effect. Because the Czech Republic was not able to implement it in […]
Abolition of VAT exemption for imports of goods up to EUR 22
The changes concern, inter alia, the import from third countries of small consignments with an intrinsic value of up to EUR 22, that have so far been exempt from VAT. From 1 July 2021, the electronic commerce (so-called e-commerce) rules are due to change. The changes concern, inter alia, the import from third countries of […]
The Supreme Administrative Court makes life easier – allocating the cost of interest on a loan for the purchase of shares
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 […]