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Slim VAT – Draft Explanations

1 January 2021 marks the date of implementation of the Slim VAT package to the Polish Value Added Tax Act. The package is intended to facilitate VAT settlements.

TAX ALERT 2021 / 01 / 22

2021 novelties in transfer pricing: transactions with tax havens, changes to TPR and reports on implementation of tax strategies

Transfer prices have recently been a topic of much interest for tax authorities, and the legislator keeps amending, expanding and elaborating on the existing regulations. Starting from 1 January 2021, taxpayers must adopt new rules for transactions with tax havens, TPR filings and publication of tax strategy reports.

TAX ALERT 2021 / 01 / 13

Safe harbour for intra-group loans – new margin level

As of 1 January 2019 taxpayers may (under certain conditions) benefit from a safe harbour in controlled transactions including loans, credits and bond issue.

TAX ALERT 2020 / 12 / 31

SLIM VAT – Steps to be taken before the end of 2020 to avoid trouble with correction invoices

The Act amending the SLIM VAT legislation has been passed is now awaiting the President’s signature and promulgation in the Journal of Laws. It comes into force on 1 January 2021. The Act sets forth, without limitation, new rules for recognizing negative correction invoices by the seller and the buyer.

TAX ALERT 2020 / 12 / 21

OECD publishes its guidance on the transfer pricing implications of the COVID-19 pandemic

Today, at 11:00 a.m., the Organisation for Economic Co-operation and Development (OECD) released the long-awaited document “Guidance on the transfer pricing implications of the COVID-19 pandemic”.

TAX ALERT 2020 / 12 / 18

SLIM VAT. Bill passed without the Senate’s changes

On 16 December 2020 the Senate passed the bill on Slim VAT of 27 November 2020 without any changes. The Act will now be presented to President for signature.

TAX ALERT 2020 / 12 / 18

Transfer pricing changes take effect

In one of our previous newsletters we informed about the proposed changes to transfer prices, including the COVID-19-related simplifications.
These were introduced upon the Act of 28 November 2020 amending the personal income tax act, corporate income tax act, flat rate income tax on selected earnings of natural persons and other selected acts (Journal of Laws item 2123), promulgated on 30 November 2020.

TAX ALERT 2020 / 12 / 09

Planned changes to income taxes in 2021

On 28 October 2020, the Polish Sejm voted on changes to tax law concerning, without limitation, the status of income tax payers assigned to limited partnerships and some registered partnerships…

Tax Alert 2020 / 11 / 16

New VAT e-commerce rules – a bill of amendment to the VAT Act

At the end of October, the Ministry of Finance, Funds and Regional Policy published a bill of amendment to the VAT Act and some other acts, which adapts the Polish regulations to the EU law known as VAT e-commerce package.

Tax Alert 2020 / 11 / 16

Excise Duty Amendment Bill

The Government Legislative Centre published an updated bill which amends, without limitation, the Excise Duty Act of 6 December 2008 (Journal of Laws of 2020 Item 722).

TAX ALERT 2020 / 10 / 21

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