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2021 loan in tax settlements

How will loans concluded in 2021 differ from those in previous years in terms of taxation? Significant changes in tax law regulations that come into force at the beginning of each new year no longer surprise anyone. Practice shows that the changes concern many aspects, and their main principle is a “spot” intervention in order

  • Published in CIT

Slim VAT – entry into force from 2021

Yesterday, the president signed an amendment to the provisions of the VAT Act, the so-called “SLIM VAT” package. It will soon be published in the Journal of Laws. This package is intended to facilitate some aspects of daily settlements for taxpayers The most important changes are: increasing the limit for small value gifts from PLN

  • Published in VAT

Upcoming “Brexit” – tax consequences

Although Great Britain is no longer formally a member of the European Union, until the end of 2020 there is a transitional period in which Great Britain is treated for tax purposes as a member of the Union. At the moment, the European Union has not concluded an agreement with Great Britain that would regulate

Information on tax strategy

At the beginning of 2021, tax capital groups and CIT taxpayers with income that excess EUR 50 million will be obliged to prepare and publish information on the tax strategy implemented for a given tax year. It is worth taking a closer look at this regulation. General comments The provisions of the act do not

Amendments to the CIT and PIT Acts published in the Journal of Laws

Today, the provisions amending the Polish CIT and PIT Act were published in the Journal of Laws. Taxation of limited partnerships (spółka komandytowa) and other changes The Act of November 28, 2020 introduces the following changes : limited partnerships and general partnerships having their seat or management board in the territory of the Republic of

  • Published in CIT

Autumn with sanctions?

Parallel to major and minor changes in tax law, also some other legislative works are performed. They are at different stages of realization. Their common denominator is an element of all kinds of sanctions (penalties) for taxpayers / personnel, or the introduction of new obligations in contacts with authorities. It is worth briefly presenting these

Changes in the field of specialized tax offices

The Ministry of Finance has published a draft amending regulation in the field of specialized tax offices. Currently, there are 20 specialized tax offices that provide services to selected taxpayers, primarily the largest enterprises. It is planned that one specialized tax office will be introduced on a national scale, providing comprehensive and professional tax services

WHT and the gross-up clause

Payment of remuneration to foreign entities may result in the obligation to collect the withhold tax (WHT). This applies to the payment of dividends, interest, royalties or remuneration for specific services. Theoretically, the tax is borne by the recipient. Therefore, it should receive its value after the WHT deduction. Nevertheless, some foreign contractors demand to

“Precautional” reporting of tax schemes – a practical approach

The provisions of the Tax Ordinance provide the obligation to report certain transactions, events or other situations (called tax schemes) to the Head of the National Revenue Administration. Failure to comply with reporting obligations may result in penal fiscal liability of the responsible personnel. The fine may even exceed PLN 20 million. Due to the

  • Published in MDR

VAT at the end of the year

The end of the year is the traditional time of adopting changes to tax law. This year, the issue of income taxes is the most controversial. Nevertheless, the value added tax (VAT) includes issues worth attention. Below, we would like to present you a synthetic overview of current issues, important for VAT settlement. 1. Amendment

  • Published in VAT

Changes in income taxes passed by the Sejm

In addition to the “Estonian CIT”, changes in the area of ​​income taxes include other very important issues, such as: covering limited partnerships (pol. spółka komandytowa) with CIT – starting from May 2021, although it will be possible to choose this option from the beginning of the year; liquidation of the so-called “abolition relief”; limiting

  • Published in CIT

“Estonian CIT” passed by the Sejm

On October 28, the Sejm passed an amendment to the provisions of the Corporate Income Tax Act, introducing tax solutions, commonly known as “the Estonian CIT”. Just to remind, this is a special tax regime that provides for taxation of income only at the time of distribution or allocation of funds for private purposes of

  • Published in CIT

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