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This is a page for the tag Corporate Income Tax (CIT)
Amendments to the Corporate Income Tax Act and certain other acts (Polish Deal 3.0)
Published on 25 October 2022, the Act of 7 October 2022 introduces new regulations for taxpayers. For the most part, the changes under the Act apply to CIT and come into force on 1 January 2023, with some exceptions (Polish Deal 3.0). A particularly significant change is the exemption from...
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Extension of deadlines for the filing of TPRs and transfer pricing documentation
The deadlines for the filing of the TPR and the statement on the preparation of local transfer pricing documentation for 2021 have been extended – thus, for companies whose financial year 2021 coincided with the calendar year, the deadline is, in principle, 30 December 2022. For entities whose financial year...
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Property development companies vs. real estate companies
According to the recently presented position of the Director of the National Revenue Information, a real estate developer engaged in the construction of residential and non-residential buildings and their sale may be deemed a real estate company on the grounds of income tax regulations, thus resulting in the obligation to...
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Tax Benefits for Aid to Ukraine
Engaging in aid to Ukraine may benefit from several existing and newly introduced tax benefits. Although some regulations came into force in the middle of March – they are effective retroactively, i.e. from February 24, 2022. Donations to non-governmental organizations (NGOs) The value of donations made to non-governmental organizations in...
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CIT reporting and settlement deadlines for 2021 extended
Extension of reporting deadlines On March 10, 2022, the Polish Minister of Finance’s regulation1 changing the reporting deadlines for 2021 came into force. According to its contents, the deadlines for, among other things, the preparation, approval and submission of financial statements due in 2022 are extended as follows: by 3...
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Withholding Tax (WHT) 2022
Interest, royalties and others Interest and royalties paid to a non-resident and fees for certain intangible assets and legal services (e.g. consulting, accounting, legal and technical services, advertising, data processing, market research, recruitment, management, inspection services and guarantees, etc.) are subject to 20% withholding tax, unless the rate is not...
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Exemption from income tax on profits of general and limited partnerships
On December 15, 2021, the Polish Minister of Finance issued a general interpretation No. DD5.8203.2.2021, in which he confirmed that the exemption from income tax on certain income from participation in the profits of legal persons (e.g. dividends, income from investment funds, the equivalent of the profit of a legal...
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Documentation thresholds in transfer pricing in 2022
Among the many legislative changes, from 1 January 2022, also those concerning transfer pricing came into force. In particular, they point to formal and documentation issues, including those informing about the thresholds at which homogeneous controlled transactions must be documented. The transfer pricing documentation is prepared for transactions whose value...
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Controlled Foreign Corporations (CFC) – more entities
Tax changes implemented as of January 1, 2022 expanded the catalog of entities qualifying as Controlled Foreign Corporations (CFC), thereby requiring more entities to apply tax rules specific to those entities. The most significant of these changes include: the addition of two new specific entity qualification categories, extension of the...
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Polish Deal – Changes applicable to Polish Personal Income Tax (PIT) and Corporate Income Tax (CIT)
On November 15, 2021 the President signed into law the Act of 29 October 2021 amending the Personal Income Tax Act, the Corporate Income Tax Act and certain other acts (Polish Journal of Laws 2021, item 2105), which is part of the program known as the “Polish Deal” and introduces...
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