Polish Deal This year's topic number one, which inducts prices of accounting services and tax advisors. one from the largest tax reforms of the last decade absorbs entrepreneurs who are already counting the losses they will suffer as a result of the changes and are looking for ways to minimise them. In some cases, they will also benefit from new reliefs.
In this issue and in the following you will find a lot of information about the new tax environment.
We describe changes in the rules on Foreign Controlled Unit (PIT) and CIT (Controlled Foreign Company), simplification of transfer pricing documentation, additional exclusion from TP documentation obligation (in PIT and CIT), limitation of neutrality of share exchange transactions (in PIT and CIT).
What we focus on in this issue is also new possibilities for deductions or reliefs, including new rules for clearing those already functioning. It is also worth pointing out changes in the middle class relief.
The amendment has eliminated an imprecise record saying that relief is to be granted to those who have annual revenues from 68,412 PLN to 133,692 PLN, with employees to be simply revenue, while in those operating, income less operating costs (excluding social security contributions).
The problem is that there is no concept of operating costs in the PIT Act, which made it unclear what costs could be de facto settled. According to the amendment, the right of relief will depend on the amount of revenue less the ‘cost of obtaining revenues from the activities carried out’, i.e. de facto on the income calculated for PIT.
An example of this imprecise record shows how law was created Polish Deal, in which there is sometimes a lack of basic knowledge of the operating rules, which may be due to the fact that the reform was carried out extremely quickly and without sufficient consultation with the business environment
Katarzyna Kołbuś Leading editor
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Number theme
• Polish Deal. Part 1. Key changes in CIT and PIT
• Polish Deal - the most important tax changes. 2 - tax relief
Taxes
- General interpretation of the Minister of Finance in the area of housing rental using an intermediary and VAT issues
- Transfer prices – documentation obligation for ‘indirect’ transactions with tax havens
- The GAAR clause cannot be considered fragmentedly
- Financial compensation to counterparties may be paid to costs
Right
• New AML responsibilities from 31 October 2021
- Foreign law: FinCEN asks banks to observe transactions related to environmental offences