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Changes in interest rates and the company's transfer pricing policy
In the article The November increase in the NBP reference rate affects the maximum interest rate in transactions between related parties, we wrote that in the environment of interest rate increases, when determining the interest…
In some cases, the obligation to compile transfer pricing documentation for 2021 may also arise in transactions with unrelated parties
The new transfer pricing obligations are a consequence of the new wording of Article 11o of the CIT Act, which came into force on 1 January 2021.
Transfer pricing and the end of LIBOR rates
In2022, LIBOR basis rates are no longer being used, and this has consequences involving the regulations governing the use of the financial safe harbour mechanism.
Temporary VAT reduction from February 1
From February 1, the Polish government announced a reduction in VAT rates for certain food products, fertilizers, fuels, natural gas, LPG and energy. Rate reductions are to be introduced under the so-called “Anti-inflationary Shield 2.0.”…
Reporting obligation in 2022
Report on applied payment terms - according to Article 13a of the Act on Prevention of Excessive Delays in Commerce Transactions, applies to: tax capital groups, regardless of the amount of revenue earned; corporate income…
Exclusion of real estate companies from the obligation to prepare and submit a report on payment terms in commercial transactions
15.12.2021 in the Journal of Laws (under item 2317) was published the Law of 2.12.2021 on amending the Law on special solutions related to preventing, counteracting and combating COVID-19, other infectious diseases and ensuring crisis…
An obligation to compile transfer pricing documentation for 2021 may also arise in transactions with unrelated parties
The new transfer pricing obligation is a consequence of the new wording of Art. 11o of the Corporate Income Tax Act, which came into force on 1 January 2021. Full implementation of this obligation, i.e.…
The deadline for preparing transfer pricing documentation is approaching
The deadline for fulfilling transfer pricing obligations for 2020 is approaching rapidly. This year was an exceptional time due to the COVID-19 pandemic and its impact on transfer pricing. The pandemic made it necessary to…
WHT from January 2022
Under the Polish Deal provisions, changes to withholding tax will enter into force in January 2022. According to the bill, the changes concern: due diligence, the definition of “beneficial owner”, the “pay and refund” mechanism,…
Taxation of business operators under the “Polish Deal”
The Act of 29 October 2021 Amending the Personal Income Tax Act, the Corporate Income Tax Act and Certain Other Acts has been published in the Journal of Laws (Dz.U. 2021 item 2105). The new…
TAX FREE procedure
Businesses selling goods in retail stores can take advantage of the TaxFree procedure. After meeting certain conditions, stores can facilitate VAT refunds for their customers from outside the European Union who paid the tax when…
Polish Deal - tax changes for employees
From 1 January 2022, the package of tax changes introduced under the Polish Deal will enter into force in Poland. On 16 November 2021 the act introducing the new regulations was signed by the President…
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…
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