Poland watching closely as European Commission initiatives on withholding tax aim at simplification

On June 19 2023, the European Commission issued a statement signalling legislative work on simplifying and synchronising members states’ laws on pay and refund withholding tax (WHT) procedures. The commission pointed out numerous bureaucratic obstacles and inconsistencies that enterprises encounter and result in significant losses. The Polish WHT system fits well into the commission’s observations.…

A new regulation in Poland explained: family foundations and their taxation

The purpose of a family foundation, which is a new structure for Poland, is to accumulate wealth and manage it in the interest of the beneficiaries. As a rule, a foundation is exempt from corporate income tax (CIT) unless it carries on business which is not allowed. In that case, the profit will be subject…

Taxing shifted profits – how to tackle the new challenge in Poland

The new tax on shifted profits has been implemented via the Polish CIT Act from January 1 2022. Since this tax is settled on annual basis, the upcoming deadline for the annual CIT return would be also the first date in which taxpayers will face the new challenge. As a rule, the statutory deadline for…

Is conversion of shopping centres a remedy for the housing shortage?

The slowdown in housing investments observed recently, and the influx of refugees caused by the ongoing war in Ukraine have increased an already large hole in the Polish housing market. Among many solutions, the conversion of shopping centres into residential buildings is considered. Demolition of underused or underperforming shopping centres is just one way of…

Mandatory e-invoicing in Poland postponed till July 2024

A European Council derogation decision allowed Poland to introduce a mandatory e-invoicing system starting from January 1 2024 and draft regulation stated this date. However, according to the latest announcements from the Ministry of Finance, it will be postponed to July 1 2024. The latest plans of the Polish Ministry of Finance regarding obligatory e-invoicing…

Simplified import procedure from Ukraine to the EU. How does it work?

VAT taxpayers importing goods into the EU can use the simplified import VAT procedure. This is a cashless procedure for paying VAT on imports. Whether you want to import goods into the EU from Ukraine or from another country outside the EU, it is useful to know which option is the most favorable for the…

New rules surrounding the Polish Investment Zone

From January 1 2023 there are new rules on regional investment state aid in the Polish Investment Zone. The Polish Investment Zone provides corporate income tax exemption in return for investment in specific regions. It applies to all types of taxpayers, such as individuals, partnerships, companies and other corporate bodies. The most important change is…

Enhanced tax exemptions for holding companies in Poland

With 2023 comes numerous changes to improve the availability and operation of the Polish holding company model. It is worth remembering that the capital gains tax exemption for holding companies was introduced into Polish tax law under the so-called Polish holding model as of January 1, 2022. It has already been subject to significant amendments,…

Green taxes in the fight against climate change

There is a perception that the only meaningful achievement of this year’s COP27 summit is the agreement to set up a ‘loss and damage’ fund to cover the losses of developing countries caused by climate change-related disasters. Beyond this, no agreements were made that would take the world back from the path towards climate catastrophe.…

Customs of the future

WTO looks dedicated to the idea of customs reform, recognizing jointly all the main current global challenges (the Covid-19 pandemic, the climate crisis, increased geopolitical tensions and threats to global food security) with the term “policrysis”. ___ Download the full article: link