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Implementation of the National e-Invoicing System postponed
We would like to inform you about an important change regarding the implementation of the National e-Invoicing System (KSeF). The obligation to issue invoices through the National e-Invoicing System will not be enforced in 2024. The Ministry of Finance has announced the postponement of the mandatory use of KSeF due...
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Deadlines for implementing the e-delivery service in Poland
Electronic delivery (‘e-delivery’) is a solution that allows correspondence to be sent and received electronically, ensuring equivalent legal effects to sending a registered letter with acknowledgement of receipt. The e-delivery service was introduced by the Act of 18 November 2020 on electronic deliveries, but its implementation has been repeatedly postponed....
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KSeF and invoices for foreign entities, as well as invoices in foreign currency
Starting from July 2024 for active taxpayers, and from January 2025 for all Polish entrepreneurs, the use of the National e-Invoicing System (KSeF) will be mandatory. This will affect the documentation process for transactions with both domestic and foreign contractors. Due to the complexity of invoicing for entities from outside...
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National Bank of Poland interest rates in January 2024
The first interest rate decision of the year was made on 8-9 January at the Monetary Policy Council meeting. Interest rates have remained at the same level since November 2023. Current NBP (National Bank of Poland) interest rates: reference rate at 5.75% on an annual basis lombard rate at 6.25%...
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Individual tax micro-account – What to know in 2024
What is an individual tax micro-account? An individual tax micro-account serves as an individualized platform designed for making tax payments. Introduced on 1 January 2020, it was designed to streamline and simplify the process of tax payments. This system allows both taxpayers and employer-payors to make payments to the tax...
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Penalties for failure to comply with transfer pricing obligations
We would like to remind you about the obligation to submit transfer pricing information for the year 2022. The deadline for submitting information for entities whose tax year coincides with the calendar year is January 31, 2024. For other taxpayers, the statutory deadline is the end of the 11th month...
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Interpretation regarding the conditions for applying the withholding tax exemption on dividends
We would like to draw your attention to a new and controversial line of interpretation regarding the conditions for applying the withholding tax exemption on dividends paid to parent companies, which can be observed in a series of recent rulings of the Provincial Administrative Court in Lublin (an example of...
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Challenges in e-commerce accounting for manufacturing companies entering the market
E-commerce is a rapidly growing industry where an increasing number of entrepreneurs see opportunities for development and expansion. This also includes manufacturing companies, which are looking for new purchasers, either on their own or in cooperation with online shops. Often, these companies choose to base their product sales on the...
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Submission of transfer pricing information for 2022 officially extended
We previously reported on the deadline extension project in this post. We would like to inform you that on November 27, 2023, the Regulation of the Minister of Finance dated November 24, 2023 on extending the deadline for filing TPR information was published. The regulation entered into force on the...
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New draft regulation for the individual tax micro-account
On November 14, 2023, the Ministry of Finance has published a draft regulation on its website, that expands the catalogue of types of receivables that can be paid via tax micro-accounting. According to the information provided by the Ministry of Finance, the draft was prepared to update the list of...
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