Article 3 of this Act amends Article 13a of the Act of 08.03.2013 on Counteracting Excessive Delays in Commercial Transactions (unified text Journal of Laws of 2021, item 424). These amendments replace in paragraphs 1, 3 and 4 the references to Article 27b(2) of the Corporate Income Tax Act with references to Article 27b(2)(1) and (2) of that Act.
The Amendment Act came into force on the day after the date of promulgation, i.e. on 16.12.2021.
As a result of the above change, entities referred to in Art. 27b section 2 point 3 of the Corporate Income Tax Act, i.e. real estate companies, including real estate companies belonging to a tax capital group, are not obliged to submit, by 31 January of each year, a report on payment terms used in commercial transactions in the preceding calendar year.
Thus, a real estate company may be obliged to file the aforementioned report only under the rules provided for other entities, i.e. if its revenues earned in the tax year exceed the equivalent of EUR 50 million.
We would like to inform you that we are also aware of the information that the Ministry of Development and Technology is working on additional amendments to the Act on Prevention of Excessive Delays in Commercial Transactions in order to move the deadline for filing the report on payment dates in commercial transactions from January 31st to April 30th for all entities.
As of today, however, we have no information on what stage the work is at or when it will be completed.
