In the current economic situation, the importance of intragroup financial transactions has been growing. Companies are increasingly borrowing from a related party instead of financing from an external financial institution. This approach is triggered by lower creditworthiness of lenders...

Ukrainian citizens can set up a sole proprietorship in Poland [one-man business activity] as well as remotely provide services in Poland as part of business activities established in Ukraine. Polish provisions are quite strict when it comes to performing the business activity by non-EU...

It is the third time an amendment to the VAT Act in Poland is referred to by the Ministry of Finance as ‘SLIM VAT’. There are many changes introduced by this act, but most of them are rather minor. What is important is the changed rules for the application of VAT sanctions. This amendment...

On June 19 2023, the European Commission issued a statement signalling legislative work on simplifying and synchronising members states’ laws on pay and refund withholding tax (WHT) procedures. The commission pointed out numerous bureaucratic obstacles and inconsistencies that enterprises...

The purpose of a family foundation, which is a new structure for Poland, is to accumulate wealth and manage it in the interest of the beneficiaries. As a rule, a foundation is exempt from corporate income tax (CIT) unless it carries on business which is not allowed. In that case,...

The new tax on shifted profits has been implemented via the Polish CIT Act from January 1 2022. Since this tax is settled on annual basis, the upcoming deadline for the annual CIT return would be also the first date in which taxpayers will face the new challenge. As a rule, the statutory...

The slowdown in housing investments observed recently, and the influx of refugees caused by the ongoing war in Ukraine have increased an already large hole in the Polish housing market. Among many solutions, the conversion of shopping centres into residential buildings is considered. Demolition...

A European Council derogation decision allowed Poland to introduce a mandatory e-invoicing system starting from January 1 2024 and draft regulation stated this date. However, according to the latest announcements from the Ministry of Finance, it will be postponed to July 1 2024. The...

VAT taxpayers importing goods into the EU can use the simplified import VAT procedure. This is a cashless procedure for paying VAT on imports. Whether you want to import goods into the EU from Ukraine or from another country outside the EU, it is useful to know which option is the...

From January 1 2023 there are new rules on regional investment state aid in the Polish Investment Zone. The Polish Investment Zone provides corporate income tax exemption in return for investment in specific regions. It applies to all types of taxpayers, such as individuals, partnerships,...

With 2023 comes numerous changes to improve the availability and operation of the Polish holding company model. It is worth remembering that the capital gains tax exemption for holding companies was introduced into Polish tax law under the so-called Polish holding model as of January...

There is a perception that the only meaningful achievement of this year’s COP27 summit is the agreement to set up a ‘loss and damage’ fund to cover the losses of developing countries caused by climate change-related disasters. Beyond this, no agreements were made that would take the...

WTO looks dedicated to the idea of customs reform, recognizing jointly all the main current global challenges (the Covid-19 pandemic, the climate crisis, increased geopolitical tensions and threats to global food security) with the term “policrysis”. ___ Download the full article:...

In January 2023, an amendment to the Polish Corporate Income Tax Act will come into force. Pro-fiscal changes as well as solutions that are favourable for taxpayers will be introduced, making certain tax instruments more challenging and some more attractive. #MORE on the topic of...

Poland has implemented European Council Anti-Tax Avoidance Directive (ATAD 2) by introducing anti-hybrid provisions into its domestic law. The provisions apply starting from January 2021 and the taxpayers should take them into account in their 2021 CIT settlements and onwards. The...