Real Estate Tax (RET) Review

Recently we noticed an increased activity of local tax authorities regarding the verification of correctness of calculating, declaring and paying the real estate tax. This tax constitutes a significant part of revenues of local governments which, like by entrepreneurs, in the era of COVID decreased.

The verification very often ends up with the necessity to correct previous tax settlements, sometimes even up to several years back. This is particularly the case of real estates owned by special purpose vehicles (SPV), which often do not update the tax base data after the purchase or improvement of real estate – especially in the respect of constructions other than buildings.

The real estate tax review can identify potential irregularities in declaring tax bases and prepare the taxpayer for such tax inspection.

Our team will:

• review the real estate tax returns and source documents, including contracts and entries in the fixed assets register,

• analyze and assess the state of compliance of the tax settlements,

• present conclusions and recommend solutions in a written memorandum.

Our review may be extended with additional elements, such as:

• preparation of RET returns adjustments and letters to tax authorities,

• representation of the Client before the tax authorities,

• analysis and recommendations of changes in other taxes in connection with RET adjustments, in particular in CIT.

The cost of our review is determined individually based on the taxpayer’s needs (number of real estates, number of structures, etc.).

We are flexible and we will try to adapt to your requirements.

Should you be interested, please contact us:

Łukasz Bączyk
Head of Tax, Board Member

Jarosław Szajkowski
Tax Manager – Tax Adviser

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