In the last days, the Polish government published few regulations postponing various reporting obligations, aiming to relieve adverse COVID-19 effects:
CIT-8
The deadline for submitting CIT-8 for most CIT taxpayers was postponed until 31 May 2020 (for-profit/loss generated in the tax year that ended in the period from 1 December 2019 to 31 January 2020). The due date for tax payment resulting from yearly CIT settlement has also been postponed until the same date.
On the other hand, for taxpayers who generated only tax-free income or which revenues from public benefit activities constitute at least 80% of the total revenues generated (in a tax year), the above deadlines were extended until 31 July 2020 (for-profit/loss generated in the tax year that ended in the period from 1 December 2019 to 31 March 2020).
Financial statements
The deadlines for preparing and approving financial statements will be postponed by 3 months (e.g. for entities having a financial year that is the calendar year, the deadline will be extended to 30 June 2020 in case of financial statements preparation and to 30 September 2020 for their approval) and in the case of entities subject to the supervision of the Polish Financial Supervision Authority (KNF), e.g. listed companies – by 2 months.
ORD-U / IFT-2R
The Ministry of Finance plans also to postpone the deadlines for submitting ORD-U and IFT-2R. It will be possible to submit them by the fifth month after the end of the tax year for which they are prepared. In the case of ORD-U, the extension concerns the deadlines expiring in the period from 31 March to 31 May 2020, whilst in the case of IFT-2R, the extension applies to entrepreneurs whose tax year ended in the period from 31 December 2019 to 31 January 2020.
If you would like to discuss the details, please contact our experts:
Łukasz Bączyk
Head of Tax
E: lbaczyk@asbgroup.eu
Marta Skrodzka
Tax Manager – Tax Adviser
E: mskrodzka@asbgroup.eu
Jarosław Szajkowski
Tax Manager – Tax Adviser
E: jszajkowski@asbgroup.eu
