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This is a page for the tag Corporation Taxes
Payments excluded from the deductible operating expenses
The Ministry of Finance has prepared a draft law within the Income Tax Act, the Corporation Tax Act and the Business Activities Freedom Act. The amendment advises that payments that are not processed through the bank account of the business operator, are to be excluded from the deductible operating expenses.
Changes to taxation in 2016
New rules for making adjustments to costs as of 1st January, 2016. Correction invoices will be processed on an ongoing basis without the need to do this retrospectively. The new regulations apply to adjustments on revenue and expenses arising which are a result of events that change the taxable base....
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Commercial mediation in Poland: new quality in business from 1 January 2016
Solutions provided in the Act on Supporting Alternative Dispute Resolution. As of 1 January 2016 an act came into force on support for alternative methods of dispute resolution, drawn up by the Ministry of Economy in cooperation with the Ministry of Justice.
The right to deduct VAT with a duplicate invoice
The moment at which the payment of duplicate invoices is made is determined by whether a business has received the original sales invoice and the invoice has been recorded in its accounts. Taxpayers still had doubts when they could deduct VAT from duplicate invoices. There are two possible solutions.
The responsibility to adjust tax-deductible costs associated with unpaid invoices are to cease
The Act amending the Tax Act of 5 August 2015 and some other acts repeals Article 15b CIT Act and Article 24d PIT Act with effect from 1 January 2016.
The issue of cancellation of invoices
The issuer of an invoice document, the bill which has not yet left the business, i.e. has not been received by the recipient of the invoice can be cancelled, providing that the transaction for which it was issued has not been effected.
The new transfer pricing documentation requirements for transactions between affiliates
With reference to the rule changes regarding the drawing up of transfer pricing documentation, the responsibility to submit transfer pricing documentation to the tax authority when required, and to create a declaration or a simplified report, will only relate to entities that record revenue or costs of a identified level.
The purchase of Christmas gifts for employees could be a social benefit
The social benefits for employees on the occasions of Christmas and Easter can either be funded by the Company Social Benefit Fund (ZFŚS) or from the company’s current assets. The tax consequences of such actions, both for the employer and the employees that receive such benefits, will depend on which...
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The government signed the new tax regulation on IT-based collection of tax information
Companies who submit Corporate Income Tax (CIT) and Personal Income Tax (PIT) will be obliged to submit returns on income (revenue) of natural persons and taxpayers of corporate income tax via electronic communication means. That emerges from an amendment of personal income tax law and other regulations that where accepted...
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