Corporate Income Tax

/ Tax Services in Poland

Corporate Income Tax (CIT)

Corporate Income Tax includes a number of issues that are most frequently faced by every accounting department. Tax deductible costs, tax point, foreign exchange differences and free of charge benefits (gratuitous performance) are among the issues that we have analysed a number of times in our up-to-date practice. The tax regulations that undergo frequent changes are not easy to comply with – this is where we can help.

Tax Obligations:

Companies are obliged to:

  • Conduct full bookkeeping;
  • Prepare financial statements and file it to the National Registry Court;
  • Have the books audited and financial statement published (certain types of companies);
  • Individual businesses and most of the partnerships can fulfil limited bookkeeping requirements in form of a revenues and costs book, unless their yearly revenue exceeds an equivalent of 1,200,000.00 EUR.

How getsix® can help?

Our CIT-related tax advising services include:

  • Advice on tax optimisation related to CIT;
  • Tax reviews aimed at identification of risks, as well as the ways to improve CIT procedures and settlements;
  • Consultancy on international tax law and withholding tax;
  • Solving current CIT controversies and doubts;
  • Support in solving disputes with tax authorities pertaining to specific areas of CIT (e.g. on deductibility of certain costs).

Handling Tax Settlements – a core services of our tax accounting services

In the course of the year taxpayers are obliged to make monthly advance payments on income tax to the bank account of a competent tax office. The amount transferred is a difference between the tax due on the income earned from the beginning of the tax year and total advance payments due in preceding months. Monthly tax advance payments must be remitted no later than on 20th day of each month for the preceding month.

A final settlement of tax liabilities is completed by submitting a yearly tax return and paying an outstanding amount, if any. This should be done:

  • By the end of the third month of the year following the tax year – in case of corporate taxation;
  • Until April 30th of the following year – in case of personal income tax settlements.

Additionally entities – irrespective of their form – are in general subject to Value Added Tax. Therefore, if no exemption is applicable, entities are obliged to settle the VAT on a monthly basis and file monthly tax returns until 25th day of each month for the preceding month.

Last updated: 25.11.2020

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