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Implementation of New Withholding Tax Requirements
These new requirements will essentially provide certain conditions that must be met in order for a withholding tax reduction or exemption to apply in relation to payments to non-residents under tax treaties or other special regulations. This means that if the conditions are not met, then standard domestic rates must...
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getsix | From 1st May, 2019 a new matrix of VAT rates was applied to cash registers
The 1st May, 2019 is the effective date of Act of 15th March, 2019 amending the Tax on Goods and Services Act and of the Trade Metrology Act (Journal of Laws [Dz. U.] of 2019, Item 675), i.e. the so-called On-Line Cash Registers Act. The new generation of cash registers...
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Tax Focus 2019 | Transfer Pricing Threshold
Local transfer pricing documentation is prepared for a controlled transaction of a uniform nature, the value of which, less value added tax, exceeds the following documentary thresholds in the financial year: PLN 10 million – in the case of a commodity transaction; PLN 10 million – in the case of...
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Tax Information | Poland – 10 facts
A brief summary of the most important information for any business or individuals who plan to invest in Poland. Corporate Income Tax (CIT) CIT is levied at a rate of 19% (standard rate) or 15% (reduced rate for small taxpayers and new companies in the first year of business activity)....
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Planned changes to Polish business taxation for 2019
Be aware of possible legislative changes, getsix® have prepared for you a list of proposed changes in Polish business taxation for 2019. The Polish Ministry of Finance has announced key changes to be proposed under 2019 tax reform. These proposed regulations create on one hand preferences for some business areas,...
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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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Important Data Protection Act 2018
Dear Ladies and Gentlemen, We kindly request you to familiarise yourself with a very important change in the data protection legislation in Poland. On 28th May, 2018 expires the deadline for implementation of the data protection environment in a given corporate organisation to the provisions of the Directive of the...
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Reduction of the limit for the execution of business transactions with cash
In order to restrict the shadow economy, the legislature has significantly reduced the legally permissible limit for the execution of business transactions with cash in this year. Until now cash transactions with an equivalent value of up to 15,000.00 EUR were possible, the limit is now only maximum 15,000.00 PLN...
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Information requirements for the purchase of real estate by foreigners in Poland
The legislature has expanded the information requirements for the purchase of real estate by foreigners. Notaries are now obliged to submit to the Ministry of Interior, Warsaw. Also, notarised contracts for the sale of shares, shareholder shares or rights and obligations on the basis of which foreigners become owners or...
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Deletion from the register after 6 months without any business activities
Companies which suspend or interrupt their business activities for a period of at least 6 months may be expected to be removed from the register of taxpayers subject to VAT.
