Lack of invoice in case of direct tax costs

We would like to describe a situation we encountered at one of our clients. The taxpayer bears the costs of transport. The rates and scope of services provided are known, but the invoice is provided by the carrier only after some time. Can we recognize these expenses in a given period as tax costs despite

  • Published in CIT

Legislation and Practice – January in taxes and business law

We present below a short summary of the most important changes in tax/business law and practice in January. Legislation Practice in taxes Income taxes and transfer pricing VAT International Taxes Other

Writing off “bad debts” and tax costs

The annual settlement is a good time to look at “bad debts” and the possibility of settling them in tax costs in CIT. In principle, the “costing” of an uncollectible receivable, previously accounted for as income due, may take place either by: Ad. a If the claim is written off, the creditor must have one

  • Published in CIT

Pillar II minimum tax

The Polish Act on Compensatory Taxation of Constituent Entities of International and Domestic Groups (the “Act”) has been in force since the new year. As we have indicated in previous materials, the Act implements the provisions of the so-called GLoBE Directive, i.e. m.in. regulations on the minimum 15% global equalization tax, the so-called Pillar 2,

Target CBAM model getting closer

On 30 December 2024, the Commission Implementing Regulation EU 2024/3210 of 18 December 2024 laying down rules for the application of Regulation (EU) 2023/956 of the European Parliament and of the Council as regards the CBAM registry was published, effective the following day. This Regulation primarily requires the Commission to establish at EU level a

Legislation and Practice – December in taxes and business law

We present below a short summary of the most important changes in tax/business law and practice in December. Legislation Practice in taxes Income taxes and transfer pricing VAT International Taxes Other

Polish minimum tax – step by step

The year 2024 is the first year for which the Polish (domestic) minimum tax will have to be settled. Therefore, since its settlement is approaching, it is worth explaining the methodology of calculating the tax (Article 24ca of the CIT Act). First of all, it should be checked whether the taxpayer is not on the

Storing invoices only in an electronic form

More and more taxpayers are implementing the storage of invoices only in electronic form. What do tax regulations say about this? VAT According to Article 106m sec. 1 of the Polish VAT Act: “The taxpayer shall determine the method of ensuring the authenticity of origin, integrity of content and legibility of the invoice.” On the

New compliance obligations – counteracting forced labour

On 19 November 2024, the Regulation of the European Parliament and of the Council on prohibiting products made with forced labour on the Union market and amending Directive (EU) 2019/1937 was adopted. It introduces a number of requirements for entrepreneurs to eliminate products manufactured with the use of forced labour. The regulation adopts the definition

Legislation and Practice – November in taxes and business law

We present below a short summary of the most important changes in tax/business law and practice in November. Legislation Practice in taxes Income taxes and transfer pricing VAT International Taxes Other