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 […]
What will Brexit bring in VAT?
CURRENT BREXIT SITUATION On January 2020 United Kingdom (UK) based on an agreement concluded with the European Union left EU. Nevertheless at least until the end of 2020, there is an exit transitional regulation period when the existing EU VAT regime, single market, and customs rules still apply. There is a possibility that the final […]
R&D and IP Box relief in the latest tax interpretations
The Director of the National Tax Information (Director of KIS) has recently issued several significant individual tax rulings concerning R&D tax relief for taxpayers creating innovative solutions and preferential taxation of income from qualified intellectual property rights (IP Box relief). These rulings are related i.a. to conditions of recognizing specific categories of costs as qualifying […]
Monitor your trade in goods within the EU Member States – check Intrastat obligations in the CEE Region
What is the INTRASTAT system? Intrastat is the statistical system enforced on 1st January 1993 in accordance with the need to control trade in goods within the European Union (EU) in a situation of removal of borders and customs formalities between the EU Member States when reporting obligations were withdrawn. Intrastat does not apply if […]
JPK VAT: the penalty for the mistake
Jaroslaw Szajkowski, Tax Manager at ASB Poland, speaks about JPK VAT in the interview with Rzeczpospolita. The Polish Ministry of Finance has once again postponed the date of introducing the new JPK file. Please find the full article in Polish on the RP website or contact our expert if you have questions: Jarosław SzajkowskiTax Manager – […]
BREXIT – EORI after January 1, 2021
In the case of entities registered in the United Kingdom, having an EORI number was related to transactions with third countries. However, due to the fact that the United Kingdom is leaving the European Union, it will be necessary to have an EORI number for further operation of entities. Therefore, entrepreneurs conducting transactions with European […]
EORI – what is worth knowing
Abbreviation of EORI (Economic Operators’ Registration and Identification) in other words, it is the EU system for verifying flows of goods to register and identify economic operators for customs purposes. This system operates in every member state of the European Union. Additionally, some changes are coming early in 2021, so read our article to know […]
SLIM VAT: The Ministry of Finance announced simplifications for taxpayers
The Ministry of Finance announced 16 July 2020 a package of changes to facilitate calculation and settlement of VAT. The aim of proposed changes is to make VAT easier, more modern, and adopted to the local reality, i.e. the high presence of small and medium-sized firms in Poland that settle their taxes on their own. […]
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 […]