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Securing the payment of taxes may protect against exclusion
If tax arrears are a ground for exclusion under the procurement documentation, exclusion can be prevented by making payment or entering into an agreement with the tax authority. It is worth considering whether providing voluntary security would be an effective way to prevent exclusion.
Securing the payment of taxes may protect against exclusion
Taxation of real estate companies
On 30 September 2020, an extensive set of proposed amendments to tax laws was submitted to the Polish Parliament. We have already written about how general partnerships and limited partnerships are to be taxed. In this article, we describe the planned form of taxation of income from the sale of real estate companies and related doubts.
Taxation of real estate companies
Planned rules for imposing corporate income tax on limited partnerships from 2021
The guidelines for imposing corporate income tax on limited partnerships and some registered partnerships have now been stated with more specificity. On 16 September 2020 a draft Act Amending the Personal Income Tax Act, the Corporate Income Tax Act, the Act on Flat-Rate Taxation of Certain Income of Natural Persons, and Certain Other Acts (draft no. UD126) was published on the website of Poland’s Government Legislation Centre. The draft and the extensive justification for the proposal provide details of the rules for taxation of limited partnerships from 2021 forward. It should be borne in mind that these rules may change during the course of the legislative process.
Planned rules for imposing corporate income tax on limited partnerships from 2021
Limited partnerships and some registered partnerships to be subject to corporate income tax
The Ministry of Finance intends to impose corporate income tax on limited partnerships, and on registered partnerships whose shareholders (taxpayers participating in their profits) are not disclosed. These types of partnerships will probably become CIT payers starting from 2021.
Limited partnerships and some registered partnerships to be subject to corporate income tax
Transfer prices: You can never be too sure when making an adjustment
Adjustments of transfer prices have generated a lot of uncertainty among taxpayers for a long time, as evidenced by the large number of individual tax interpretations issued in this area. Due to the change in regulations, and because the right to make an adjustment is affected by numerous factors, taxpayers seek interpretations from the revenue administration even when the facts are not very complicated.
Transfer prices: You can never be too sure when making an adjustment
Claiming the IP Box in the video game industry
The instrument popularly known as the “IP Box,” introduced on 1 January 2019, allows taxpayers to claim a lower, 5% rate of corporate income tax or personal income tax in their annual tax settlements for income generated from commercialisation of qualified intellectual property rights they have created or developed through R&D activity. In this article we discuss how to benefit from the IP Box in the game development industry, who is eligible for the IP Box, and the conditions that must be met.
Claiming the IP Box in the video game industry
Extension of deadlines to perform transfer pricing obligations
“Shield 4.0” extends the deadlines for all obligated entities to file transfer pricing information (TPR), declarations on preparation of local transfer pricing documentation, and enclosures of group transfer pricing documentation. The earlier regulations extended the deadlines only for selected taxpayers.
Extension of deadlines to perform transfer pricing obligations
Not quite Estonian corporate tax
Prime Minister Mateusz Morawiecki has announced plans to introduce so-called “Estonian corporate income tax” in Poland and presented the key assumptions of the scheme. If adopted, the reform would come into force from the new year. What are the benefits for taxpayers from this change? Is the Estonian CIT to be introduced into the Polish tax regulations really similar to the original scheme used in Estonia?
Not quite Estonian corporate tax
Changes in taxpayers’ dealings with the tax authorities and administrative courts: Shield 3.0
Many changes affecting taxpayers’ relations with tax authorities and the administrative courts have been introduced as part of the rollout of successive versions of the Anti-Crisis Shield. Under Shield 3.0, which entered into force on 16 May 2020, taxpayers, tax authorities and the administrative courts are emerging from hibernation.
Changes in taxpayers’ dealings with the tax authorities and administrative courts: Shield 3.0
The Ministry of Finance is open to comments and suggestions on the Cooperation Programme
Recently we wrote about the planned implementation of the Cooperation Programme, under which selected taxpayers would be given the opportunity to cooperate with the head of the National Treasury Administration on a permanent basis. This cooperation would, among other things, enables taxpayers to reach decisions on tax strategy in consultation with the authority competent for verifying the correctness of the taxpayer’s settlements. Until 26 May 2020, taxpayers may submit comments and suggestions to the Ministry of Finance on selected documents relevant to the programme.
The Ministry of Finance is open to comments and suggestions on the Cooperation Programme
Discontinuation of projects due to the COVID-19 pandemic: Tax implications
One of the consequences of the pandemic and the resulting economic crisis may be the need for some taxpayers to discontinue projects. Do the Polish tax regulations allow for settlement of expenses incurred for discontinued projects under the CIT Act? Will the taxpayer have to make an adjustment of input VAT on expenses incurred in the course of work on such projects?
Discontinuation of projects due to the COVID-19 pandemic: Tax implications
Cross-border transactions in times of pestilence
The difficulties in international transport caused by the pandemic may have a major impact on VAT settlements of Polish exporters. These complications may carry over to the possibility of applying the 0% VAT rate, thus affecting taxpayers’ cash flows.
Cross-border transactions in times of pestilence