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 – what about CIT taxpayers?
Please see the most important changes on the grounds of CIT: New reliefs, to include: increase from 150% to 200% of the amount eligible for deduction of qualified costs in R&D Centre (CBR), including those related to obtaining and maintaining a patent, right of protection for a utility model, right from registration of an industrial […]
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 […]
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 […]
New anti-abusive regulations – tax losses
Most important amendment in CIT and PIT for 2021 was a change of personal income tax liability of partnerships. So far they were tax transparent but suddenly they become – or will become shortly – tax opaque. However, this is not only a negative modification of the Polish tax law introduced this year. It is […]
Deadline for submission of first reports on applied payment dates in commercial transactions is approaching
Until 31 January 2021 certain CIT taxpayers are obliged to submit first reports on applied payment dates in commercial transactions. On 1 January 2020 provisions of the Act on amending certain acts in order to limit payment blockages introducing regulations mobilizing debtors to pay within the set deadline and discouraging them from imposing unjustified, extended […]
2020 CIT / VAT review
In ASB tax projects and tax compliance is carried out either directly by licensed tax advisers from ASB Tax or by our accountants from ASB Poland with close supervision of ASB Tax. Should you wish us to review 2020 CIT / VAT settlements prepared for you by your accountants or check whether the possibility of […]
No CFC for Tax Transparent Entity
This is the end of the 5-year CFC dispute. The Supreme Administrative Court finally confirmed what we have argued for from the beginning: that income derived by a tax transparent partnership should be considered business activity income aid, in consequence, non-passive income on the grounds of the CFC regulations. What was the background of the dispute? Some time ago the tax authorities came to the conclusion that it would be good to cut all the discussions and […]
Robotization relief – how to automate Polish entrepreneurs?
The Ministry of Finance plans to introduce tax relief for robotization and automation as of the second quarter of next year, at the latest in mid-2021. However, we are still waiting for a draft bill introducing this new solution. The main goals of the Polish legislator are: increase of the number of robots in industrial […]
Estonian CIT – the draft bill after consultation with business submitted to the Parliament
On 30 September 2020, a draft amendment to the CIT Act has been submitted to the Polish Parliament (the Sejm), which introduces a new system of income taxation for some companies – the so-called Estonian CIT. We wrote about its basic assumptions in the article here and the other one here. The new draft bill […]