The Polish Order introduces changes to transfer pricing

The draft Polish Governance Act introduces further changes to transfer pricing (TP): New penal fiscal sanctions failure to prepare local transfer pricing documentation, preparation of transfer pricing documentation not in line with actual background, failure to submit information on transfer pricing (so-called TPR form), or submitting information that does not correspond with the local transfer […]

Polish Deal – Part 1. New competencies for the National Revenue Administration

The announced draft changes to the Act on the National Revenue Administration aims at providing new tools for National Revenue Administration (NRA). Warning about suspicious entities Tax authorities, in the course of their daily activities, collect a broad spectrum of information from all of the taxpayers. The proposed changes include a new competence for the Head of […]

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 […]

The Polish New Deal – VAT changes

The Polish Ministry of Finance intensively works on changes concerning VAT taxation. In July 2021, the draft amendment to the Polish tax regulations so-called “the Polish New Deal”, including also changes in the VAT Act was published. New VAT regulations are going to be implemented to the domestic tax system since January 1, 2022. Please […]

The Supreme Administrative Court makes life easier – allocating the cost of interest on a loan for the purchase of shares

Breaking the prevailing approach of administrative courts, the Supreme Administrative Court (SAC) recently issued a judgment (ref. No II FSK 2627/20), in which it indicated that the costs of interest on a loan for the purchase of shares should be recognized as indirect costs (i.e. costs not directly related to any source of revenues) and […]

Changes in VAT reporting

From July 1, 2021, the amended provisions of the Regulation of the Minister of Finance, Funds, and Regional Policy on the detailed scope of data included in tax declarations and records in the field of VAT were applied. The amendments are in some cases clarifying, while in others are fundamental, introducing new rules for marking […]

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 […]

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