The first CBAM reporting is due by 31 January! Importers have to submit their first CBAM (Carbon Border Adjustment Mechanism) report until 31 January 2024. Each importer of CBAM goods* into the EU should submit a quarterly report containing information on the imported goods. The CBAM report must include, inter alia: the total quantity of…
News on tax depreciation from 2024 From 2024, new possibilities can be applied in the field of depreciation of fixed assets for tax purposes (PIT and CIT). Accelerated depreciation for new buildings The first preference applies to non-residential buildings and structures. In certain cases, accelerated depreciation of such fixed assets is possible. The basic depreciation…
Deadline for WH-OSC follow-up statement ever closer Tax remitters with tax year same as calendar year are required to file a WH-OSC so-called follow-up statement by 31 January 2024. Who is affected by this requirement? If payments subject to withholding tax exceed the PLN 2 million threshold in a given year to a given entity,…
Year end – a good time to switch to Estonian CIT The turn of the year is the optimal time to decide whether or not to take advantage of the increasingly popular tax relief, commonly referred to as the ‘Estonian CIT‘. Why is Estonian CIT becoming increasingly popular? Estonian CIT is a relatively new form…
Settlement of 2023 tax on shifted profits is just around the corner CIT payers with calendar year as their tax year may be obliged to settle the tax on shifted profits in their CIT return for 2023 by 1 April 2024. The tax on shifted profits applies to certain payments of passive nature made to…
January 2, 2024 expires the deadline for the publication of the tax strategy report for the 2022 tax year Who is obliged? The obligation to publish a tax strategy report applies to tax groups and taxpayers with revenues exceeding EUR 50 M in 2022. In addition to the publication itself, taxpayers must inform the head…
Polish local minimum income tax will apply from 1 January 2024 From 1 January 2024, the minimum corporate income tax provisions will take effect again. The 10% minimum tax will apply to companies with Polish tax residency and domestic tax capital groups that in the tax year: suffered a loss from a source of income…
Withholding tax – Ministry of Finance consults the draft of official guidelines On 28 September 2023, the draft of the official clarifications on withholding tax [Draft] was published. The Draft refers to the beneficial owner criteria, which includes, inter alia, the condition of a genuine economic activity to be conducted by the recipient of the…
Changes in cross-border and domestic reorganizations On September 15th, 2023 an amendment to the Polish Commercial Companies Code came into force, introducing new types of domestic and cross-border reorganizations. Following the amendment, changes to income tax acts and Tax Ordinance were also implemented. Changes related to cross-border reorganizations aim to implement EU directives (Directive No.…
Higher amount of exemption for financing meals for employees On September 1, 2023 the Regulation of the Minister of Family and Social Policy came into force, amending the Regulation on detailed rules for determining the basis for pension and disability contributions. According to it, the basis for the calculation of retirement and disability contributions is…