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Higher expenses for employers linked with the utilization of a private car of the employee for corporate purposes
Higher costs for mileage allowance The Ordinance of the Minister of Infrastructure of 22 December 2022, amending the Ordinance on the conditions for determining and the method of reimbursement for the use of private cars, motorbikes, and mopeds for business purposes, influenced the costs of using vehicles for business purposes....
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National e-Invoice System – Test form from October
At the beginning of September, the Polish Parliament received a draft amendment to the VAT Act (Paper no. 1547 [PL]) concerning the introduction of the National System of e-Invoices (KSeF) as of 1 January 2022. However, according to information published by the Ministry of Finance, the system will be available...
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Settlement of a contract of mandate or contract for specific work in the net income method
How can I document in the net income method (Polish short form used hereafter “PKPiR”) the costs incurred for the settlement of a contract of mandate or contract for specific work and payment of remuneration to the contractor or subcontractor? Is an electronic receipt sufficient or do we need additional...
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With modern IT solutions in accounting, we support our clients in the age of the COVID-19 pandemic
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Date12 Mar 2021
/On the one hand, 2020 was a difficult and unpredictable year and on the other hand, it showed that modern technologies have a significant impact on the activities of many industries. According to the financial reports of listed IT companies, the IT industry, despite the difficult economic situation caused by...
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A subsidy from the PFR does not constitute tax revenue
The financial subsidy received by the taxpayer under the government program for SMEs in connection with combating the effects of the pandemic in Poland is not tax revenue. It concerns the financial support from the Polish Development Fund (PFR) provided under the government’s ‘Anti-Crisis Shield’. This was confirmed by the...
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Financing for subsidiaries as an ancillary transaction
On 7th October 2020, the Supreme Administrative Court issued a judgment on the company’s activities related to assistance in obtaining loans or credits for subsidiaries. This applies to companies operating within a capital group in which the company is a parent entity (file reference I FSK 2010/17). It follows from...
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Finance & Accounting Focus 2019 | Electrisation of ‘Annual Financial Statements’
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...
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The most significant changes to Polish CIT for 2018
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...
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Invoice processing and cash-flow management
getsix® realises that invoice processing and cash-flow management are the lifeblood of any business. But at the same time, it has been generally recognised that manual, paper-based invoice processing has intrinsic problems that can affect your business in critical ways, undermining the efficiency and hampering the flow of information. Outsourced...
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Re-invoicing for the costs of utilities
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...
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