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ECJ considered the Polish bad debt relief regulations non-compatible with the VAT Directive

On 15 October 2020, the European Court of Justice (“ECJ” or “Court”) passed a judgment in case C‑335/19 E. Sp. z o.o. Sp. k. vs the Minister of Finance concerning compatibility of the Polish bad debt relief regulations with Directive 2006/112/EC (“Directive”).

TAX ALERT 2020 / 10 / 16

Deadline for preparation of TP documentation

The deadline for submission of the transfer pricing information and the statement on preparation of a local file ends on 31 December 2020 for those entities whose tax year overlaps with the calendar year.

Transfer Prices for 2019 2020 / 10 / 08

Minister of Finance comments on deductible costs for authors of creative works

On 15 September 2020, the Minister of Finance issued a long-awaited general ruling concerning the requirements for applying 50% deductible costs to calculate income from disposal or use of copyright by its owners. The interpretation defines when and under what conditions remuneration can be recognized as a royalty to which the increased tax costs apply.

TAX ALERT 2020 / 09 / 28

The lump-sum income from company car use for private purposes includes the costs of fuel – says the general ruling issued by the Ministry of Finance

The value of income from the use of company cars for employees’ private purposes is determined as a lump sum in the PIT Act. The Minister of Finance, in a general ruling issued on 11 September 2020 (DD3.8201.1.2020), confirmed that the lump sum also includes the value of fuel purchased by the employee on the employer’s account.

TAX ALERT 2020 / 09 / 23

Planned changes to CIT and PIT regulations vs. transfer pricing – tax strategies and tax havens under the scrutiny of fiscal authorities

The latest proposals of changes to CIT and PIT regulations prepared by the ministry of finance attract comments primarily in the context of CIT imposed on limited partnerships and some registered partnerships. However, the bill of amendment, published on 16 September on the website of the Government Legislative Centre, also provides for numerous new solutions in the area of transfer pricing. Additionally, further improvements connected with COVID-19 are planned.

TAX ALERT 2020 / 09 / 21

Planned changes to VAT – SLIM VAT, BRI, SPLIT PAYMENT

The Ministry of Finance plans to implement changes to the goods and services tax (VAT). The bill dated 14 August 2020 amending the VAT Act and the Banking Law provides, without limitation, for introduction of a package facilitating VAT settlement (Slim VAT: Simple Local and Modern VAT). Apart from the Slim VAT, the amendment also […]

ALERT PODATKOWY 2020 / 09 / 15

Estonian CIT from 2021, i.e. flat rate on income in capital companies

An amendment of the corporate income tax act is planned to take effect next year. The amendment introduces a new taxation system, which is a form of a flat rate tax on income derived by capital companies, dubbed as “Estonian CIT”. According to the explanatory memorandum recently published by the Ministry of Finance, the planned […]

TAX ALERT 2020 / 09 / 15

SLIM VAT – simplification of VAT settlements

The Ministry of Finance published a proposal of simplification of VAT settlements. The SLIM VAT project implements changes in four areas.

TAX ALERT 2020 / 07 / 17

Amendment to regulations on hybrid mismatches, quick fixes and MDR

On 22 June 2020 the President signed an amendment passed by the Sejm on 28 May 2020 concerning, without limitation, the acts on: CIT, VAT, tax information exchange with other countries, and the Tax Code.

TAX ALERT 2020 / 06 / 25

SHIELD 4.0 – changes to tax regulations

Last Friday, on 19 June 2020, the Sejm passed the Act on subsidies to interest on bank loans provided to COVID-19-affected entrepreneurs and on simplified procedure for approval of a composition in connection with COVID-19 (hereinafter “the Act”), also known as Shield 4.0. The Act also amends tax regulations.

TAX ALERT 2020 / 06 / 23

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