National Bank of Poland interest rates in January 2024
The first interest rate decision of the year was made on 8-9 January at the Monetary Policy Council meeting. Interest rates have remained at the same level since November 2023. Current NBP (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...
Please Read More
Changes in Polish labour law 2024
Minimum wage Download » The minimum wage will increase twice in 2024. From 1 January 2024, the minimum wage will be PLN 4,242 gross followed by a second increase to PLN 4,300 gross at the beginning of July. The minimum hourly rate will increase accordingly, from 1st of January it will be PLN 27.70 gross...
Please Read More
Individual tax micro-account – What to know in 2024
What is an individual tax micro-account? An individual tax micro-account serves as an individualized platform designed for making tax payments. Introduced on 1 January 2020, it was designed to streamline and simplify the process of tax payments. This system allows both taxpayers and employer-payors to make payments to the tax office in a more organized...
Please Read More
Penalties for failure to comply with transfer pricing obligations
We would like to remind you about the obligation to submit transfer pricing information for the year 2022. The deadline for submitting information for entities whose tax year coincides with the calendar year is January 31, 2024. For other taxpayers, the statutory deadline is the end of the 11th month after the end of the...
Please Read More
Interpretation regarding the conditions for applying the withholding tax exemption on dividends
We would like to draw your attention to a new and controversial line of interpretation regarding the conditions for applying the withholding tax exemption on dividends paid to parent companies, which can be observed in a series of recent rulings of the Provincial Administrative Court in Lublin (an example of this is the judgment of...
Please Read More
Position of the State Labour Inspectorate on the New Occupational Health and Safety Regulations
In the provisions of the regulations of the Minister of Family and Social Policy of 18 October 2023, amending the regulation on occupational safety and health at workstations equipped with screen monitors, specific provisions regarding the financing of corrective glasses or contact lenses for employees were not included. In addition, the aforementioned provisions in this...
Please Read More
Challenges in e-commerce accounting for manufacturing companies entering the market
E-commerce is a rapidly growing industry where an increasing number of entrepreneurs see opportunities for development and expansion. This also includes manufacturing companies, which are looking for new purchasers, either on their own or in cooperation with online shops. Often, these companies choose to base their product sales on the e-commerce market. While this strategy...
Please Read More
Submission of transfer pricing information for 2022 officially extended
We previously reported on the deadline extension project in this post. We would like to inform you that on November 27, 2023, the Regulation of the Minister of Finance dated November 24, 2023 on extending the deadline for filing TPR information was published. The regulation entered into force on the day following its promulgation. The...
Please Read More
New draft regulation for the individual tax micro-account
On November 14, 2023, the Ministry of Finance has published a draft regulation on its website, that expands the catalogue of types of receivables that can be paid via tax micro-accounting. According to the information provided by the Ministry of Finance, the draft was prepared to update the list of payments. The draft is currently...
Please Read More
Minimum income tax from 1 January 2024
From 1 January 2024, minimum rules for corporate income tax will come into force in accordance with Article 24ca of the CIT Act. This tax is intended to tighten the tax system and minimise the tendency to shift income from Polish companies to jurisdictions with a favourable tax regime. The purpose of the minimum tax...
Please Read More
