English
This is a page for the tag Corporate Income Tax (CIT)
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...
Please Read More
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...
Please Read More
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...
Please Read More
Polish Deal – Changes in Polish 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...
Please Read More
Tax payment by a third party – is it allowed?
Does a taxpayer have to pay his taxes personally? Can the payment of funds to the tax office account be made by a third party? Despite the unambiguous verdict of the Polish Supreme Administrative Court (NSA), these issues are still controversial. According to the current regulations, each taxpayer is personally...
Please Read More
Thin capitalization – regulations are still unclear
How to correctly settle the costs of debt financing? Unfortunately, there is still no clear answer to this question. The current regulations in this regard are unclear and the interpretations of administrative bodies – contradictory. In 2018, Article 15c was introduced in the CIT Act to limit excessive debt financing....
Please Read More
Can employee meals be a tax deductible costs?
Providing employees with free meals has been one of the most popular employee benefits in recent years. Most often companies offer their employees breakfast, lunch or fruits, but other meals are also popular in the offers of entrepreneurs. Can the purchase of food products for employees and contractors be a...
Please Read More
When can a general partner deduct limited partnership tax (CIT) from PIT?
From 1 January 2021 Polish limited partnerships are obliged to settle CIT. For owners of such companies it means double settlement of income tax: first they will pay CIT of the company, and then PIT on settling their own income. Despite the fact that for general partners the legislator provided...
Please Read More
Significant tax changes regarding the settlement of PIT to counteract the negative effects of COVID-19
In order to counteract the negative effects of COVID-19 pandemic, significant tax changes regarding the settlement of personal income tax (PIT) and corporate income tax (CIT) have been introduced. Changes concerning personal income tax (PIT) The raised income tax exemption limits will remain in force until the end of the...
Please Read More
Changes in the jurisdiction of tax authorities from 1 January 2021
On 1 January 2021, amendments to the regulations in accordance with the decrees of the Minister of Finance, Development Funds and Regional Policy of 28 December 2020 came into force. (Polish Journal of Laws of 2020, item 2456). Thus, the scope jurisdiction of the tax authorities in relation to taxpayers...
Please Read More
