The Ministry of Finance presented a bill aimed at improving the situation of taxpayers of inheritance tax and donations.
The new rules will allow for the restoration of the time limit for the notification of acquisitions of property or property rights by members of the immediate family, as well as the notification of acquisitions or participation in the company by inheritance or recovery in situations not attributable to the taxpayer.
The purpose of the amendments is to allow for the benefit of inheritance and gift tax exemptions while retaining the obligation to notify the acquisition of assets.
Amendments to the notification deadline and to the tax obligation
The draft law also introduces greater legal certainty, specifying a clear moment when the tax obligation arises in the acquisition of goods or property rights through inheritance.
In accordance with the proposed amendment, the tax obligation will arise when the order to acquire the inheritance, to register the certificate of succession or to issue the European inheritance certificate, rather than when the inheritance is adopted, as is currently the case.
This solution is beneficial for taxpayers, as it prolongs time for tax returns.
The proposed solution is to allow taxpayers to benefit from a tax exemption in situations where they were unable to comply with the deadline to notify the acquisition of assets, for example as a result of random events which prevented them from completing the formalities within the prescribed time limits.
Basic solutions of the proposed law:
- – Restoring the deadline for the declaration of acquisition of property or property rights by members of the immediate family in situations not blamed by the taxpayer.
- – Determination of the unambiguous moment when the tax obligation arises when acquiring goods or property rights through inheritance.
- – The possibility to notify the acquisition or participation in the company by inheritance or recovery.
The draft law aims to simplify procedures and reduce the administrative burden on taxpayers, which should help to improve the conditions for doing business in Poland.