Close deadline for submission of CBC-P notification

Pursuant to the Act on Exchange of Tax Information with Other Countries, the obligation to file a notification on form CBC-P applies to an entity that:

• has its registered office or management board in Poland or has its registered office or management board outside of Poland, but conducts business activity in Poland through a permanent establishment;
• is part of an international capital group obliged to prepare consolidated financial statement;
• the consolidated financial statements of the group include an amount of revenue of at least PLN 3.25 billion if prepared in PLN or EUR 750 million in other cases.

If the consolidated financial statement is prepared for a period shorter or longer than 12 months, the threshold amount should be calculated by taking the value of 1/12 of PLN 3.25 billion or EUR 750 million respectively for each started month of the FY.

The purpose of the CBC-P notification is to indicate the ultimate parent entity, the designated entity, or other entity that shall file the information on the group of related entities under the Country-by-Country Reporting procedure and to indicate in which country the information shall be filed.

The deadline for filing the notification is 3 months after the end of the reporting fiscal year of the group of entities. If it is in line with the calendar year and ended on 31 December 2021, the last day to submit the form will therefore be 31 March 2022. The only correct method of submission is the electronic form, and the addressee of the information remains the Head of the National Fiscal Administration.

If the deadline for submitting the CBC-P notification is not met, or if the information is incomplete or inconsistent with the available data, there is a risk of a financial penalty of up to PLN 1 million.

The CBC-P form is not complex and should not pose any particular difficulties. However, if you should have any doubts or questions, please do not hesitate to contact us.