Council of Ministers adopted 7 April this year draft law on specific support instruments for the spread of the virus SARS-CoV-2. This is another few dozen solutions to counter the negative effects of coronavirus. The use of budget resources in the fight against the effects of the epidemic and in support of public institutions and the private sector are only some of the proposals of the Ministry of Finance.
„The Ministry of Finance actively participates in creating new solutions that will be used to fight the epidemic and to protect the Polish economy from its effects. The involvement of state authorities and budgetary resources is necessary in this situation. We constantly monitor the budgetary situation and the state of the Polish economy in order to propose solutions that are best suited to current needs" - explained Finance Minister Tadeusz Kościński
„The package of our latest proposals focuses on the support of a wide range of public and private actors and financial market participants. We have also presented solutions to improve the activities of the National Tax Administration. We are taking further actions and in cooperation with other ministries we are preparing new protective solutions," Kościński says.
Countermeasure Fund COVID-19 in BGK
Support for the Anti-Action Fund COVID-19 will handle Bank Gospodarstwa Krajowego. The funds will come from contributions from public finance sector entities and can be used to finance or co-finance the implementation of countermeasure tasks COVID-19 and the removal of its effects.
These funds will be available for example to public finance sector entities, as well as to non-sector entities. Changing the form of operation will allow for a more efficient management of the funds of the Fund using the experience of the Bank as a public asset management body.
Support for OPP
The possibility of tax exemption on land, buildings and structures occupied by non-governmental organisations having public benefit status whose financial liquidity deteriorated due to coronavirus.
Support to public benefit organisations amount 1% the tax will also be possible in the event of the submission of a PIT statement for 2019 or PIT-OP statements after the deadline, but not later than 1 June 2020 (Correction of this statement to 30 June 2020). The condition for the transfer by the head of the tax office of this amount of OPP will be the payment by the taxable person of the tax in full up to 30 June 2020
Support for companies
- Extension to 30 September 2020 time limit for submission of a declaration of drawing up the local transfer pricing documentation for entities whose tax year or financial year started after 31 December 2018, and finished before 31 December 2019
- Extension to 31 December 2020 the deadline for joining the local transfer pricing documentation of the transfer pricing documentation for entities whose financial year started after 31 December 2018 and finished before 31 December 2019
- Allowing entrepreneurs to receive tax relief in connection with COVID-19, by law Tax Ordinance, State aid to remedy the serious disturbance in the economy referred to in the Commission Communication — Temporary framework for State aid measures to support the economy in the context of an ongoing epidemic COVID-19 (2020/C 91 I/01). The indication that support in the form of non-collection of interest on late tax arrears also constitutes the aid mentioned above. The introduction of these rules will be a great facilitation for the vast majority of entrepreneurs, as it will enable entrepreneurs to apply for state aid up to a maximum of 800,000 EUR (of the current 200,000 EUR).
- A solution on the conditions that a tax capital group must fulfil in order to retain the status of taxpayer. Tax capital groups to be borne In 2020 negative economic consequences due to COVID-19 and therefore will not meet the condition of profitability and the absence of tax arrears (conditions specified under Article 1a(2)(1) point (d) or point 4 Corporate Income Tax Act), will retain the status of income tax taxpayer. Suspension of compliance with these conditions applies only to the tax year which started before 1 January 2020 and will end after 31 December 2019 or started after 31 December 2019 but before 1 January 2021
Support to financial market participants
The proposed amendments provide for the remote possibility of:
- to register for shares, which will allow the stock companies to increase the share capital without the adjutancy of potential shareholders in the performance of these activities and ensure the full electronic execution of the capital increase process in a joint stock company;
- the participation in the meeting of bondholders who, in the event of the appointment of that authority, are entitled to change the terms and conditions of issue, which is particularly important in the event of a possible restructuring by the issuer of their bond obligations;
- participation in investment fund bodies, which is reflected in the changes previously made to allow remote participation in capital company bodies.
The MF proposals also concern:
- • shortening the entry into force of the changes in the rules of the regulated market company (GPW), enabling the company to react more quickly to developments on the stock exchange;
- • amendments to allow cooperative banks to take decisions by means of distance agreement.
Tax exemption on civil law transactions in cryptocurrency
Exemption from 1 July 2020 tax on civil law sales and exchange of virtual currencies within the meaning of Article 2(2)(26) Act on 1 March 2018 to prevent money laundering and terrorist financing.
Support for organizers of promotional and raffle lottery
Operators authorised to organise promotional and fan lottery will be able to organise the lottery at a later date than indicated in the licence received. The authorisation shall not expire if the activity is not commenced during the period specified therein. No fee shall be charged for the modification of the permit if it relates to a change of the period of activity covered by the licence.
Flexibility to shape local property in KAS to facilitate customer handling
The Minister of Finance will be able to decide on the change in the jurisdiction of the KAS authorities. This will improve the service of KAS customers who will be able to settle their cases in any Chamber of Tax Administration, Tax Office or Customs and Tax Office. It is assumed that First, it will be possible to submit tax returns and certificates to any tax office.
Control of exports of medicines, medical equipment and personal protective equipment to safeguard national needs.
Improvement of the control of compliance by traders in the export or disposal of goods subject to restrictions by the National Tax Administration, e.g. medicinal products, protective equipment and personal protective equipment, including protective masks, disinfectants.
Checks on audit firms in electronic form
The Polish Audit Supervisory Agency (PANA) will be able to carry out inspections in audit companies without the need for personal contacts, only by electronic means. Control in this form will be possible after obtaining the approval of the audited entity.
In addition, under the Regulation of the Minister of Finance, the possibility of applying the rate will be introduced 0% VAT for donations of laptops and tablets to: educational, humanitarian, charitable or educational institutions and the operator of the National Educational Network (OSE). This preference will be introduced by the Implementing Regulation of the VAT Act for the period 2 months.
On the other hand, the regulation of the Council of Ministers on the territory of the whole country will suspend administrative enforcement proceedings of monetary claims until the outbreak has been cancelled. This suspension will not apply to the enforcement of administrative fines imposed in respect of infringements of provisions of particular importance for the prevention of spread. COVID-19, or the minimisation of the effects of the epidemic, as well as the fines imposed by criminal mandate.