The increase in the VAT rate on food from April 1, 2024
The Ministry of Finance has announced that from April 1, 2024, the reduced VAT rate on basic food products will not be continued. Instead of the zero VAT rate, which has been in effect since February 2022, a rate of 5% will be applied. This decision was justified by a decrease in inflation, which seems... Read More →
Consultations on the National e-Invoicing System (KSeF) have been completed
Earlier this year, the Ministry of Finance announced that the planned introduction of the mandatory National e-Invoicing System (KSeF) would be postponed. This decision was due to numerous inaccuracies in the process, errors, and IT problems that prevented the timely implementation of the system. The Ministry also announced to conduct consultations to address questions and... Read More →
Increased controls in the area of transfer pricing
The Ministry of Finance has announced that tax authorities are going to increase controls in the area of transfer pricing. Data shows that in the first nine months of 2023, tax authorities conducted over 12,800 tax and over 7,000 combined customs and tax audits. In the face of globalization and increased trade among companies belonging... Read More →
National Bank of Poland interest rates in March 2024
On March 5-6, 2024, a meeting of the Monetary Policy Council took place, during which it was 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... Read More →
A collection of questions and answers regarding the National System of e-Invoices (KSeF)
The Ministry of Finance has released a compilation of questions and answers regarding the National System of e-Invoices (KSeF), containing over 100 questions and answers. These issues have been categorized thematically, covering consultations for the year 2024, permissions, authorization processes, system structure, document transmission methods, invoicing procedures, obligations related to KSeF, and technical aspects. The... Read More →
Amendment to the Act on Assistance to Citizens of Ukraine
The Act of February 9, 2024, amending the Act on Assistance to Citizens of Ukraine in Connection with the armed conflict on the territory of Ukraine, the Act on Personal Income Tax, and the Act on Corporate Income Tax, entered into force on February 22, 2024. The amendment to the Act of March 12, 2022,... Read More →
Binding rate information applications only by electronic means
As of the beginning of 2024, the Polish tax system has undergone a significant change in the process of submitting applications for binding rate information (WIS). The new regulation requires that these applications are submitted exclusively electronically, eliminating traditional paper-based forms. Binding rate information is a key element in the relationship between taxpayers and tax... Read More →
Changes to the deduction for the Company Social Benefits Fund
The 2024 budget law does not introduce any specific provisions regarding the calculation of the basic deduction for the Company Social Benefits Fund (CSBF). Therefore, general rules will apply, i.e. the amount of the deduction will depend on the average monthly salary, with the term “average salary” referring to the average monthly salary in the... Read More →
Restructuring and transformation of a limited partnership into a limited liability company
On January 22, 2024, a statement was issued regarding the release by the Head of the National Tax Administration (KAS) of a protective opinion dated November 29, 2023, concerning the process of a partner withdrawing from a limited partnership and transforming it into a limited liability company, opting for taxation under the flat-rate income tax... Read More →
Taxation of withdrawals from the Employee Capital Plans (PPK)
On January 18th, 2024, the Supreme Administrative Court (SAC) issued a landmark ruling (case number II FSK 435/21) on the principles of taxation of withdrawals from Employee Capital Plans (PPK). Dispute over interpretation The dispute arose from an interpretation request submitted by an investment fund planning to enter into PPK management and administration agreements with... Read More →
