The “Polish Deal” significantly modified and passed to the Sejm
The Council of Ministers adopted a substantially modified draft amendment to tax regulations under the “Polish Deal” programme. The document has now been submitted to the Sejm. Below we present a synthetic overview of the most important changes in relation to the original proposals. 1. Health insurance contribution The adopted project specifies that the basis
Significant tax reform
The Ministry of Finance has published a comprehensive draft amendment to tax regulations as part of the “Polish Deal” program. A very extensive document (225 pages) includes many changes in various taxes (PIT, CIT, VAT). Below we present a synthetic overview of the most important of them. 1. Principles of tax progression (PIT) As part
No tax on redemption (Financial Shield)
The Minister of Finance signed a decree on redemption of tax on income (revenues) due to redemption of financial subsidies granted from the Financial Shield of the Polish Development Fund. The non-collection of tax will apply to the income (revenue) obtained by the beneficiaries of the support from June 1, 2021 to December 31, 2022.
- Published in CIT
Telematics services and withholding tax
Telematics services are becoming more and more popular, especially for companies with a large fleet of vehicles. The vehicles are fitted with devices that enable their tracking (using GPS), downloading data from on-board computers, etc. Such effects are achieved thanks to special software. In practice, as in the case of many other services, suppliers of
- Published in CIT
Capital repatriation program and changes in transfer pricing
The Ministry of Finance presented another set of tax proposals under the “Polish Deal” program. Their guiding idea is the return (repatriation) of capital to Poland. Additionally, it is proposed to simplify the provisions on transfer pricing. Transfer pricing simplifications Following the decisions of the Transfer Pricing Forum, the Ministry proposes the following solutions: elimination
“The Polish Deal”: Tax relief for increasing sales, Polish Holding Company, Investment agreement
The Ministry of Finance has published further proposals for tax changes in the so-called Of the “Polish Deal”. They include, in particular, the following. Relief for increasing sales The relief of the relief is another novelty in the Polish tax system. The taxpayer could deduct from the income the costs incurred in order to increase
Another tax proposals as part of the “Polish Deal”
The Ministry of Finance presented another package of proposals for taxpayers under the “Polish Deal” program. They focus on facilitating easier settlements and new tax reliefs. The regulations are to enter into force on 1 January 2022. The “Estonian CIT” The Ministry proposes to simplify the regime and to make it more accessible, especially through:
- Published in CIT
New tax reliefs under the “Polish Deal” – proposals of the Ministry of Finance
The Ministry of Finance proposed solutions in the field of tax reliefs, which are part of the so-called “Polish Deal”. R&D relief The most important change is the proposal that all taxpayers should be able to deduct 200% of employee costs as part of R&D. Relief for innovative employees According to the proposed regulation, a
- Published in CIT
Proposals for new tax reliefs and the VAT Group – “tax restart of the economy”
The Ministry of Finance is proposing a package of tax reliefs aimed at reviving the economy. The Ministry proposes to introduce: relief for the initial public offering of shares (IPO relief); relief for investors via Venture Capital funds that invest capital in innovative enterprises; consolidation relief; expansion relief; changes in the so-called “Estonian” CIT. In
Remission of debt as tax-deductible cost
Day-to-day business practice involve situations where it becomes necessary to write off debts (receivables) against the debtor. How to account for such an event for corporate income tax (CIT) purposes? Initially, it should be noted that the term “remission of debts” is understood as a voluntary release of the debtor from the debt. Such a
- Published in CIT