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2022 - a year of changes in transfer pricing compliance sanctions
Preparation of transfer pricing documentation, and compliance with all the duties related to transfer pricing, can pose a challenge each year for companies. One of the factors encouraging correct and timely compliance in the area…
"Polish Deal": summary of the most important changes in taxes
On Tuesday, November 18, 2021, the president signed the law on tax changes, which is provided for in the so-called "Polish Deal ". Therefore, we are sure that from January 1, 2022 we will all…
Tax revolution in the e-commerce industry
All EU member states, including Poland, are currently facing the serious challenge of implementing the new VAT rules for the e-commerce industry. The core purpose of the changes is to tackle large-scale online VAT evasion…
Changes in the alternative minimum corporate income tax
On 14 September 2021 the Polish government made a correction to its bill to amend the income tax acts which it had filed with the Sejm on 8 September 2021 as part of the Polish…
Changes in VAT: Taxation of financial services, Promotion of non-cash payments in Poland and Changes to binding rate information
In July, the Polish government presented a bill to introduce broad changes to tax and insurance laws, known as the “Polish Deal.” In addition to changes in income taxes, the bill also provides for significant…
Key changes in transfer pricing: Comparative/consistency analysis, Adjustment of transfer prices, Financial safe harbour, Exemption from the obligation to prepare transfer pricing documentation, part 2
In the second part of our series of articles we describe the most important changes proposed under the project called "Polish Deal" connected with the topic of transfer pricing. These changes pertain to a number…
Taxpayers have until 15 October 2021 to provide notice of a change in tax office
The deadline for taxpayers to notify the head of their current tax office that they meet the conditions requiring them to move to a specialized tax office is fast approaching.
CIT on pass-through income
Amendments to the Corporate Income Tax Act introduced by the Polish Deal also include additional, previously non-existent fiscal burdens, which are intended to further tighten the existing tax system in Poland. The tax on pass-through…
Adjustment of transfer prices: Current law and changes proposed in the Polish Deal
Adjustment of transfer prices is a mechanism applied in settlements between related entities. The appropriate classification of a settlement as a transfer pricing adjustment (as referred to in Art. 11e of the Corporate Income Tax…
Key changes in transfer pricing: Tax and investment agreements, ORD-U, Sanctions in the Fiscal Penal Code part 3
In the third part of our series of articles we describe last changes proposed under the project called "Polish Deal" connected with the topic of transfer pricing. These changes pertain to a number of acts,…
New VAT regulations on the National e-Invoicing System
On 1 October 2021 The Parliament has passed a law amending the Goods and Services Tax Act and certain other laws (print no. 1547) concerning the introduction of the National e-Invoice System.
Key changes in transfer pricing: Value of transactions, Deadlines, Statement, Form TPR-C/TPR-P, part 1
Below we describe the most important changes proposed under the project called "Polish Deal" connected with the topic of transfer pricing. These changes pertain to a number of acts, i.e. the PIT Act, the CIT…
Changes in costs of debt financing
The changes to the Corporate Income Tax Act introduced by the Polish Deal also affect the limits on including costs of debt financing among deductible revenue-earning costs (CIT Act Art. 15c).
Changes in VAT in so-called VAT groups
In July, the Polish government presented a bill to introduce broad changes to tax and insurance laws, known as the “Polish Deal.” In addition to changes in income taxes, the bill also provides for significant…
New SAF-T (JPK_VAT) is coming
As we have already reported, VAT taxpayers will be required to submit a new version of the JPK_VAT file consisting of record and declaration parts. This file will replace the current VAT-7 and VAT-7K declarations…
SLIM VAT 2: Simplified VAT settlements enter into force in October
From the start of 2021, taxpayers in Poland were presented with the first act of the Slim VAT project (short for “Simple Local and Modern VAT”), aimed at simplifying VAT settlements.
Limitation of depreciation costs in real estate companies
Amendments to the Corporate Income Tax Act proposed by the Polish Deal introduce an unfavourable regulation regarding the possibility to treat as tax deductible costs depreciation write-offs on real estate in real estate companies.
Key changes in transfer pricing
Below we present the most important changes proposed under the project called "Polish Deal" connected with the topic of transfer pricing.
Alternative minimum corporate income tax and changes regarding limiting costs of intangible services provided by related parties
On 8 September 2021, an updated draft of amendments to tax laws to the Polish Deal programme was published. The most important of them - which comes as somewhat of a surprise - concerns a…
Tax abolition – introduction of a temporary income tax solution for taxpayers
Draft law introducing changes in taxation related to the Polish Deal also contains one institution of tax abolition (voluntary disclosure), which has been rarely encountered in the Polish legal system. By the authors of these…
Changes in withholding tax
The remitter may apply a reduced WHT rate or not collect the tax at all, if allowed by a tax treaty or by specific regulations. Then the remitter is required to hold a certificate of…
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