Please find below our brief summary: CIT/PIT Introduction of so-called minimal tax (amounting to 10% of tax basis) for companies and tax capital groups (i) which incurred operational loss or (ii) in case of which ratio of operational income to operational revenues does not exceed 1%; Decrease from 9% to 4.9% of non-deductible health insurance […]
The Polish New Deal – VAT revolution ahead?
The reform is to come into force in vast majority as of the beginning of next year. What will change in VAT settlements? Introduction of “VAT Group” – possibility of voluntary, joint VAT settlement by several taxpayers constituting the VAT Group: the VAT Group – a group of entities related financially, economically and organizationally, registered […]
Polish Deal – Part 1. New competencies for the National Revenue Administration
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 […]
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 […]
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 […]
Repatriation Program
The Ministry of Finance presented details of the so-called Repatriation Program, which aims at (i) encouraging Polish citizens to return to Poland and (ii) creating favorable conditions for investments and family business in Poland. Below we present the main assumptions of the Program. Relief for return Individuals living and working abroad for at least 3 […]
“Cashless Taxpayer” program
The Ministry of Finance presented the “Cashless Taxpayer” program. These solutions shall enable the taxpayer to take advantage of the tax relief for the purchase and use of the cashless terminal plus will be entitled to a VAT refund within 15 days. There are two packages in the program – Silver and Gold. Silver package […]
“Polish Deal” – detailed solutions – Interpretation 590, VAT groups, VAT taxation of financing services
On 14 June Ministry of Finance presented details about some of the solutions included in, so-called, Polish Deal. We described the general assumptions of the program in the article – “Polish Deal” – the announcement of major changes in taxes. Service Center at the Ministry of Finance (Investor’s Desk) The Ministry of Finance is going […]