Tax Update

Since the beginning of 2016, a number of amendments were made to the Polish CIT, PIT and VAT law. The changes include the introduction of new rules for accounting adjustments and new R&D reliefs. From 2017, new transfer pricing reporting obligations will apply.

CIT

Since the beginning of 2016, a number of amendments have been made to the CIT Act. There are changes to the moment of recognition of corrections to income and expense items, a new relief for R&D activities has been introduced and certain provisions on the adjustment of expenses in the case of late payment have been repealed. Also, new transfer pricing rules will become effective on January 1, 2017.

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PIT

Numerous changes have been made to the PIT Act by way of various amending regulations, including extended scope of revenues exempt from fax, and new rules for taxation of income from undisclosed sources.

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VAT

VAT regulations entering into force in 2016/2017 include, inter alia, new rules for determining jurisdiction of tax authorities in VAT matters, new rules for reclaiming VAT on mixed use purchases, and introduction of Standard Audit File obligations.

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