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The right to deduct VAT with a duplicate invoice
The moment at which the payment of duplicate invoices is made is determined by whether a business has received the original sales invoice and the invoice has been recorded in its accounts. Taxpayers still had doubts when they could deduct VAT from duplicate invoices. There are two possible solutions.
The responsibility to adjust tax-deductible costs associated with unpaid invoices are to cease
The Act amending the Tax Act of 5 August 2015 and some other acts repeals Article 15b CIT Act and Article 24d PIT Act with effect from 1 January 2016.
The issue of cancellation of invoices
The issuer of an invoice document, the bill which has not yet left the business, i.e. has not been received by the recipient of the invoice can be cancelled, providing that the transaction for which it was issued has not been effected.
The new transfer pricing documentation requirements for transactions between affiliates
With reference to the rule changes regarding the drawing up of transfer pricing documentation, the responsibility to submit transfer pricing documentation to the tax authority when required, and to create a declaration or a simplified report, will only relate to entities that record revenue or costs of a identified level.
Determining the taxpayer’s property tax in relation to structures erected on wind farms
If a property, which is erected with the buildings for wind turbines (the foundations, masts, street and square paving, outer wall, fencing, pipelines), is owned by farmers, and this land was leased for 25 years by the wind farms developers, the parties that pay tax on the land are the...
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The minimum wage has been increased to 1850 PLN
The minimum wage each year is agreed before 15th September. For this year 2016, the minimum wage has been increased to 1850 PLN (approx. 450 EURO).
Amendments to the Act on Personal Income Tax (PIT): 70% tax on compensation
From 1st January, 2016, certain type’s severance pay and compensation connected to non-complete clauses will be subject to tax. Amendments to the Act on Personal Income Tax (PIT): 70% tax on compensation Tax will be subject to, amongst others, compensation awarded on the basis of regulations concerning non-complete clauses will...
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Polish Parliament has restricted the period of the conclusion of fixed-term contracts
Due to an adjustment to the Labour Code, the Polish Parliament has restricted the period of the conclusion of fixed-term contracts to 33 months. By restricting the common practice, particularly among Polish employers, to employ the same workers over the years without justifying the reason for repeating fixed-term contracts (chain...
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The purchase of Christmas gifts for employees could be a social benefit
The social benefits for employees on the occasions of Christmas and Easter can either be funded by the Company Social Benefit Fund (ZFŚS) or from the company’s current assets. The tax consequences of such actions, both for the employer and the employees that receive such benefits, will depend on which...
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New law on VAT is intended to replace completely the previous legislation
The lack of ability to obtain an advance ruling on individual tax rulings on sales VAT issues, meant for taxpayers they would be deprived of the only possible instrument to obtain a certain guarantee of the predictability of the controls in individual matters – claims Wojciech Pietrasiewicz, a tax adviser...
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