CIT reporting and settlement deadlines for 2021 extended

Extension of reporting deadlines

On March 10, 2022, the Polish Minister of Finance’s regulation¹ changing the reporting deadlines for 2021 came into force.

According to its contents, the deadlines for, among other things, the preparation, approval and submission of financial statements due in 2022 are extended as follows:

• by 3 months for private sector entities (excluding entities supervised by the Polish Financial Supervision Authority (KNF) – operating in the financial market) and non-governmental organizations;
• by 3 months for personal income taxpayers who keep accounting books (regarding submission of financial statements to the Head of the Polish National Revenue Administration (KAS));
• by 1 month for entities in the public finance sector.

Extended deadlines apply specifically to:

• stock-taking,
• preparation of trial balance,
• preparation of financial statements, their submission and approval for certain entities,
• preparation of consolidated financial statements.

Detailed information on extensions of deadlines for particular recording and reporting activities for 2021 specified in the Accounting Act can be found in materials published on the website of the Polish Ministry of Finance:

• Changes in deadlines for business entities and non-governmental organizations [PL]
• Changes in deadlines for public finance sector entities [PL]

Extension of settlement deadlines

According to the regulation of the Polish Minister of Finance, which came into force on March 19, 2022² the deadlines for certain corporate income tax settlement obligations have also been extended.

The changes apply to all corporate income taxpayers (including those taxed in a lump sum on corporate income).

Until June 30, 2022, the deadlines have been extended:

• for submission of tax declaration (CIT-8, CIT-8AB) on the amount of earned income (incurred loss);
• for payment of due tax indicated in the above-mentioned declaration being a difference between the due tax on income indicated in this declaration and the sum of due advance payments for the period from the beginning of the year;
• for submission of tax declaration on the amount of income earned and lump sum due from capital company incomes (CIT-8E);
• for reporting revenues, costs and income from the transformation in a declaration submitted by taxpayers of lump-sum tax on corporate income.

¹ Regulation of the Minister of Finance amending the regulation on determining other deadlines for fulfilling obligations in the scope of records and in the scope of preparing, approving, sharing and transferring to the relevant register, entity or authority reports or information (Journal of Laws 2022, item 561 [PL]).

² Regulation of the Minister of Finance on extending the deadlines for fulfilling certain corporate income tax obligations (Journal of Laws 2022, item 639 [PL]).

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