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 by the foundation against the...
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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 it. Here are the key...
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Latest changes in the rules for employment of Ukrainian citizens
The changes in the rules for employment of Ukrainian citizens, which came into force on July 1, 2024, aim to facilitate the recruitment process and adapt the regulations to the current needs of the labour market. The introduced changes are relevant for both, employers and employees from Ukraine, as they affect employment procedures, working conditions,...
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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 annual basis, rediscount rate at...
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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 life. The initiative brings various...
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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 11 June 2024, the President...
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Invoice for foreign buyers outside KSeF (National e-Invoicing System). What about intra-Community supplies and exports?
The National e-Invoicing System (KSeF) in Poland will soon become mandatory for all businesses. However, how does this affect intra-Community supplies of goods (ICS) or exports? The current regulations concerning KSeF have raised questions about which document can serve as the visualisation of an e-invoice and what additional information it may contain. The Head of...
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Accommodation costs of posted employees in the EU do not constitute income
In recent years, the issue of taxation of accommodation costs for employees posted by employers to other EU member states has gained importance. In this context, the judgments of the Supreme Administrative Court (NSA) are crucial, as they clarify that such costs do not constitute income for the employee. The judgments with reference numbers II...
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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 and Council Directive (EU) 2019/1937,...
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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 violate the cryptocurrency trading regulations....
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