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Pay & Refund in Poland – a complicated withholding tax (WHT) refund procedure
The Pay and Refund mechanism, i.e. refund of withholding tax, is a complicated process that not everyone can easily use. It primarily requires a lot of time, proper preparation and analysis of documentation, and strict adherence to deadlines. We remind you what the Pay and Refund mechanism is, how to...
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Coverage of losses from the statutory fund of a foundation and tax exemption
Recently, the Supreme Administrative Court of Poland (Polish: Naczelny Sąd Administracyjny, NSA) issued an important ruling regarding the issue of overpayment of corporate income tax by foundations with the status of a public benefit organization. This judgment, issued at the hearing on April 10, 2024, dismissed the cassation appeal filed...
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Minimum tax – can also be paid by entities reporting a loss
As of January 1, 2024, regulations on the minimum corporate income tax have come into force. The purpose of the minimum tax is to tax entities that do not generate income or achieve it at a minimum level without a justified reason. However, entities reporting a loss must also pay...
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National Bank of Poland interest rates in July 2024
On July 2-3, 2024, the Monetary Policy Council held a meeting during which it decided to keep the interest rates unchanged. Current National Bank of Poland interest rates: reference rate at 5.75% on an annual basis, lombard rate at 6.25% on an annual basis, deposit rate at 5.25% on an...
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The “Active Parent” Act – new benefits for parents
On June 12th, 2024, the Act on Supporting Parents in Professional Activity and Child Rearing, commonly known as the “Active Parent” Act, was published in the Journal of Laws of the Republic of Poland. This act introduces a series of systemic solutions aimed at helping parents balance professional and family...
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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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