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Directive DAC7 – obligations from 1 July 2024
We would like to remind you that as of 1 July 2024, the provisions of European Union Directive No. 2021/1194 of 7 July 2021 (hereinafter “DAC7”) have come into force in Poland. These impose new reporting obligations on operators of digital platforms through which goods and services are offered. On...
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The Whistleblower Protection Act – new responsibilities for employers
On June 24, 2024, the Whistleblower Protection Act was published in the Journal of Laws, aligning Polish legislation with Directive (EU) 2019/1937 of the European Parliament and Council dated October 23rd, 2019, concerning the protection of individuals reporting breaches of EU law. Legislative background Directive (EU) 2019/1937 The European Parliament...
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Draft law on Cryptocurrencies: Supervision, penalties and many changes
The Ministry of Finance’s Cryptocurrency law will, among other things, prohibit the offer of all virtual assets without a permit. The supervision of the market will be carried out by the Polish Financial Supervision Authority (KNF), which will have the power to impose severe penalties on companies or individuals that...
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Amendment to the Accounting Act signed by the President
On April 16, 2024, the President signed an amendment to the Accounting Act, which requires large companies to break down information on income tax paid and other data by country. The amendment aims to align Polish regulations with the EU Directive 2021/2101 of the European Parliament and the Council of...
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WHT relief for holding companies: How and when can they be applied?
Preferential rules for taxing dividends and other income of holding companies in Poland and in the European Union are intended to support holding activities and avoid double taxation. In practice however, it is becoming increasingly difficult to benefit from WHT relief for holding companies in Poland. Why and when can...
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The FASTER Directive is approaching: Major changes to the Settlement of Withholding Tax (WHT)
The FASTER Directive on Withholding Tax (WHT) The European Union aims to simplify and speed up the procedures related to withholding tax relief in order to increase the efficiency of EU capital markets. The new initiative provides for the introduction of two mechanisms: withholding tax relief and a quick refund...
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Amendment to the Act on the National Revenue Administration and Certain Other Acts
On March 12th, 2024, the Council of Ministers adopted a draft amendment to the Act on the National Revenue Administration and other acts, presented by the Minister of Finance. The new regulations introduce significant changes aimed at aligning Polish law with EU regulations and strengthening control over the flow of...
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Lump sum for using a private car for local business travel as taxable income (PIT)
In the Polish tax system, there are many categories of income subject to Personal Income Tax (PIT). One such income is the lump sum paid to an employee for using his private car for local business travel. This topic is controversial in both practice and doctrine. The ruling of the...
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ESG reporting obligations getting closer – new challenges for companies
Today, sustainability and corporate responsibility are becoming increasingly important, and companies must look beyond traditional measures of success such as profit. More and more attention is being paid on the impact that companies have on the environment, society, and corporate governance – ESG (Environmental, Social, and Governance). In December 2022,...
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Application of R&D tax relief in a consulting services company
In the judgment of March 7, 2024, ref. no. II FSK 753/21, the Supreme Administrative Court (NSA) addressed the issue of the application of the R&D tax relief in a consulting services company. This ruling holds significant importance for companies operating in this industry and benefiting from this tax relief....
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