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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…
Tax relief for innovation in the Polish Deal
Taxpayers can expect many changes and new legal solutions to have a positive impact on the development of innovation in Poland. Adoption of the package of amendments known as the “Polish Deal” will extend R&D…
Taxation of holding companies
A new tax regime for holding companies is to be introduced as part of the Polish Deal. According to the justification for the bill, the main purpose for this proposal is to provide Polish businesses…
Deduction for purchase or operation of payment terminals
The proposed new provision of the Corporate Income Tax Act is another instrument aimed at combating the shadow economy, in which trading is generally done in cash. The Ministry of Finance believes that a gradual…
Restrictions on artificial expenses in the form of hidden dividends to shareholders
Proposed amendments to the Corporate Income Tax Act introduced by the Polish Deal also include significant limitations on classifying certain expenses as tax-deductible costs, regarded as hidden dividends. This applies to cases where shareholders receive…
Incentives for Polish stock market entrants (relief for IPO costs)
The draft tax changes under the Polish Deal include many solutions aimed at realizing non-fiscal functions of taxes, in the form of new tax relief. One proposal is a new regulation in the Corporate Income…
Relief for taxpayers supporting sports, cultural activities, higher education and science
The proposed tax changes within the Polish Deal would introduce new relief aimed at creating favourable tax conditions for sponsorship and facilitating socially responsible activities of companies and celebrities in business, culture and sport.
Estonian CIT in a new form
The flat-rate tax on the income of companies, referred to as “Estonian CIT,” was introduced into the Polish tax system from 1 January 2021. So far, this form of taxation has not been popular. In…
Main points of the "Polish Deal" TAX programme
I. Changes in income tax for individuals not conducting business activity: Raising to PLN 30,000 the annual amount of income tax-free from personal income tax for taxpayers paying PIT according to the tax scale (e.g. persons…
VAT e-commerce package. A simple guide to Import One-Stop-Shop for non-EU sellers & online marketplaces as VAT deemed suppliers. (PART II)
Kacper Kosowicz invited Robert-Jan Brethouwer, Partner at Grant Thornton Netherlands and Kateřina Ševčíková, Country Manager at KR GROUP LTD. for further discussion about the VAT package for e-commerce which came into effect on 1st of…
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