• Value of a transaction should be recalculated into PLN in line with exchange rate announced by the National Bank of Poland for last working day preceding the day of execution of the transaction or concluding the agreement.• The notion of “a transaction” in the context of loans should be understood as the highest amount […]
Fight against VAT fraud in e-commerce – draft amendments to the VAT Act and the National Tax Administration Act.
Despite the holiday period, the legislature is not slowing down and is proposing further amendments to the Law on Value Added Tax and the Law on National Tax Administration. Consultations on the draft ended on August 23 this year, and the planned implementation date for the law is January 1, 2024. The proposed changes are […]
Applying the look-through approach when paying dividends to a holding company
The Director of the National Fiscal Information (so-called Director of KIS) issued an individual tax ruling with the reference no 0111-KDIB2-1.4010.128.2022.2.AR, confirming the possibility to apply the withholding tax exemption for dividends paid to a foreign holding company. According to the position of the Director of KIS, the look-through approach may be applied to verify […]
ATAD 3 – The “unshell” directive will be the end of shell companies?
In December 2021, the European Commission published a draft of the EU Directive (2021/0434 (CNS)), also known as ATAD 3, which introduces restrictions on preferences for multinational groups that include entities with limited business substance. The directive establishes restrictions on the use of tax preferences and provides for information obligations for taxpayers. The entities covered […]
Changes in CIT Act
A proposition of amended CIT regulations was presented by Ministry of Finance. As of 1 January 2023, the planned changes are about to come into force. Withdrawal of “hidden dividend” regulations One of the most important changes is withdrawal of hidden dividend regulations which was to be introduced within Polish Deal 1.0. Hidden dividend means […]
Polish Deal 2.0 – Tax changes from 1 July 2022
Tax changes introduced as of 1 January 2022 (the so-called Polish Deal) have caused major uncertainties when calculating salaries for employees. For this reason, the Ministry of Finance decided to introduce new legislation which aims at simplifying tax settlements. Tax changes are already in force and will apply to settlements as of the beginning of […]
Expiry of the customs debt vs VAT and excise duty
Judgment of the Court of Justice of the European Union of 7 April 2022 (sign. C-489/20) declares that expiry of the customs debt due to detention of the goods doesn’t mean simultaneously expiry of the obligation to pay excise duty and import VAT. The subject of a CCUE pronouncement was a case of cigarette smuggling. […]
The obligatory KSeF as of 2024
The EU draft decision issued on June 10, 2022, says that the obligatory KSeF will be implemented in Poland from 2024 at the earliest. What’s important? the obligation of electronic invoicing will cover all transactions made by taxpayers based in Poland, which currently require issuing an invoice in accordance with the Polish VAT Act; the […]
Withholding tax – first WHT opinions issued by the authorities
As of 1 January 2022 the repeatedly deferred mechanism of withholding tax collection and refund (“pay and refund”) came into force. Consequently, in general tax remitter will no longer be entitled to automatically apply WHT preferences, but will be obliged to withhold tax at the statutory rate. Only then he may apply for tax refund. […]
The new VAT-R form
Please be informed that from July 1, 2022, the new version of the VAT-R form will come into force – variant 16 – the form necessary for VAT registration purposes. The change is a consequence of, among others amendment to the Polish VAT Act implementing a new type of VAT taxpayer, which from July 1, […]