If a property, which is erected with the buildings for wind turbines (the foundations, masts, street and square paving, outer wall, fencing, pipelines), is owned by farmers, and this land was leased for 25 years by the wind farms developers, the parties that pay tax on the land are the...
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From 1st January, 2016, certain type’s severance pay and compensation connected to non-complete clauses will be subject to tax. Amendments to the Act on Personal Income Tax (PIT): 70% tax on compensation Tax will be subject to, amongst others, compensation awarded on the basis of regulations concerning non-complete clauses will...
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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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Private use of company cars from January 2015 From the start of 2015 the private use of a company car up to and including an engine size of 1,600cc (cylinder capacity) will be taxed on the basis of a assumed cash benefit of 250.00 PLN. The tax rate will be...
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For the repayment of tax liabilities owed by companies, tax authorities have the right to demand money from taxpayer’s business partners who have liabilities due to deliveries, works and services. This allows Article 89 of the code on administrative enforcement proceedings. In such cases additional obligations are imposed on taxpayer’s...
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Embarrassing government mistakes in legislation, after new regulations on tax avoidance law were passed and signed by Parliament and the President on 17th September, 2014. The Government Legislation Centre had two weeks to publish this law, to enable the new legislation to come into effect next year, but the publication...
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On the 9th August, 2014, Sejm (lower chamber of the Polish Parliament) has approved the amendments from the Senate, to the draft bill amending the Corporate Income Tax Act, Personal Income Tax Act and other Acts, and thereby introduced new rules on CFC’s. These changes were largely to confirm and...
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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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First reading of a governmental bill to amend Corporate Income Tax law passed the Polish parliament on the 7th May, 2014. One of the most relevant amendments affects shareholders debt financing with a new approach to restrict deductibility of interests. So far it is clear that the new law will...
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On the 26th June parliament voted for an amendment to the regulation of taxation for foreign subsidiaries of Polish natural and legal people, which serves the purpose of limiting the potential for tax avoidance. These foreign subsidiaries must pay 19% income tax to the Polish Treasury, if the mother enterprise...
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