Please find below the most important changes which may affect your business in Poland: extending limited tax liability towards income from the sale of shares in real estate companies -> obligation of analysis of the structure of RE companies within 12 months prior to a transaction; partnerships (spółka komandytowa and spółka jawna in some cases) […]
CIT AND PIT IMPROVEMENT – LIMITED PARTNERSHIP COMPANY AS A CIT TAXPAYER
Limited partnerships are to become CIT taxpayers. This means that automatic compensation of income of one limited partnership with the loss incurred by another one at the level of partners of these entities will no longer be possible. Such structures will not be tax-effective anymore. This is the moment to consider other possibilities, to include […]
Poland – White List – new rules after 1 July 2020
The negative consequences of the White List register, introduced on 1 January 2020, regarding payments to the supplier’s bank account not included in the White List register for B2B (active VAT taxpayers) transaction over PLN 15 000 gross, result in: lack of the possibility to treat such an expense as tax-deductible cost in CIT and PIT, […]
Estonian CIT in Poland – draft of the amendment has been published
On 12 August 2020 a draft amendment to the CIT Act introducing a new taxation system, the so-called Estonian CIT model, has been published on the website of the Government Legislation Centre. We wrote about its basic assumptions here. Propose changes may be further modified – the draft is currently under review. Taxpayers will have […]
SLIM VAT – Simple, Local and Modern tax in Poland – new package
The Polish Ministry of Finance has started to listen to the business demands in the field of VAT simplification. SLIM VAT is a package of changes that will make the VAT easy to use, adapted to the local specificity of the country in which it operates. The assumptions for the changes were prepared for small […]
MDR: new deadlines and modified reporting rules
On 30 June 2020 new Regulation of the Minister of Finance on the extension of certain deadlines related to transfer of information on tax arrangements and exchange of tax information with other countries (the MDR Regulation) entered into force. The MDR Regulation also extends some of the deadlines set out in the Act of 28 […]
Changes in taxes in Poland from 1 July 2020 – summary
Beginning from 1 July 2020 the following tax changes enter into force in Poland: Change of provisions concerning the so-called White List (resulting in changes in PIT, CIT and VAT) Making payments using a split payment mechanism (MPP) to a bank account not included in the White List does not generate a risk in income […]
The government plans to revolutionize CIT in Poland –so-called Estonian CIT to be introduced
The Ministry of Finance plans to implement in 2021 so-called Estonian CIT The main purpose of the planned changes is increase of investments in Poland, since funds reinvested will not be taxed until they are paid out to shareholders. The solution may be used by about 200k companies in Poland. The concept of the new […]
First amendments to the tax provisions as of 1 July 2020
On 28 May 2020 Polish Parliament passed a bill containing: the provisions implementing EU regulations, so-called “Quick Fixes” package (hereinafter referred to as “QF”); the CIT system tightening provisions implementing Council Directive (EU) 2017/952 as regards hybrid mismatches with third countries (hereinafter referred to as: “ATAD 2 Directive”); completion of the transposition of Council Directive […]
Comparison of CIT-TP and TPR – Part 1: General information
The purpose of this publication is to summarize basic differences between CIT-TP form (submitted by larger taxpayers in recent years) and its new equivalent – TPR form. A wider range of related parties will be required to submit the TPR form. In the publication, we compare the two forms based on regulations of the Corporate […]