Dear Ladies and Gentlemen, With this information we would like to present you with important guidelines for the signing and filing of ‘Annual Financial Statements’ for the National Court Register (hereinafter also referred to as KRS). This will be valid for ‘Financial Statements’ drawn up after 1st October, 2018. At... Read More →
Capital income and its separation from other income of the taxpayer From the 1st January, 2018 within the ‘Corporate Income Tax Act’, taxpayers will be obliged to detach the operating income from the capital income. Subsequently, loss from one source will not decrease income from the other source. The provision... Read More →
In business, it is common practice for a firm to pass on the costs, it has incurred (on its own behalf) to another firm that makes use of a specific service in practice. This situation, commonly mentioned to as ‘re-invoicing’, can be applied in cases where the parties have another... Read More →
The moment at which the payment of duplicate invoices is made is determined by whether a business has received the original sales invoice and the invoice has been recorded in its accounts. Taxpayers still had doubts when they could deduct VAT from duplicate invoices. There are two possible solutions.
The Act amending the Tax Act of 5 August 2015 and some other acts repeals Article 15b CIT Act and Article 24d PIT Act with effect from 1 January 2016.
This is the outcome of an amendment of the existing accounting bill. The amended accounting bill transposes the European Commission Accounting Directive of 26 June, 2013 (hereinafter referred to as ‘directive’). According to the decided changes there are simplifications for the composition of the financial statement 2014. A shortened financial... Read More →
In order to determine exchange differences on a foreign currency account, the inflow and outflow of foreign currency needs to be valued. As a rule, for the purposes of this valuation, the actually applied exchange rate is used, and if it is not possible to use that rate, the average... Read More →
An invoice should include the following: the date of issuing, the date of executing or finalising the delivery of goods, when you performed the service and the date of receiving money, as mentioned in Article 108b, Section 1, Subsection 4 of the VAT Tax (Dz. U. of 2011, No. 177,... Read More →
Companies included in the entry within The National Court Register (NCR), shall provide their Financial Statements to the appropriate register. The information should be automatically forwarded for publication in the Court and Economic Monitor. The financial year of most companies coincides with the calendar year, this is why they should... Read More →
Expenses of businesspeople for small snacks and drinks (such as cookies, crackers, sandwiches, coffee, tea, water and juice) are deductible, regardless of whether they are served during discussions with partners in the office, or elsewhere – Article 16, Paragraph 1, Point 28 of the Law on Corporation Tax and Article... Read More →