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The RSM Poland Blog is a practical guide to taxes and business. We would like to use it as a tool for communicating some of the most interesting tax and economic topics, discussing issues related to incorporation and organisation of companies, touch on transfer pricing and reporting in accordance with Polish and international standards, as well as to study other key notions commonly related to running and managing a business.

Feel free to follow our posts, comment and ask questions.

RSM Poland Blog” is a magazine entered into the Register of Newspapers and Magazines under no. RPR 3381 of the District Court in Poznań, I Civil Department.
The publisher: RSM Poland Audyt S.A.
The publisher’s and the editor’s address: Droga Dębińska 3b, 61-555 Poznań
Editor-in-chief: Izabela WOŹNIAK izabela.wozniak@rsmpoland.pl 

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10 February 2021
Tomasz BEGER

This article is going to offer insight into some of the latest changes brought by the Regulation of the Minister of Finance, Funds and Regional Policy of 18 December 2020 amending the regulation on transfer pricing information in personal income tax and corporate income tax to be reported in TPR-P and TPR-C forms. The said provisions have been in force since 1 January 2021 and apply to transfer pricing reporting for a tax year commencing after 31 December 2019.

26 January 2021
Krzysztof CIESIELSKI

Completion Accounts is one of the two mechanisms (the other being the Locked Box) used to determine the final price in the process of closing M&A transactions. In this model, the final acquisition price is determined only on the basis of the balance sheet of the target entity prepared as at the date of signing the final contract that transfers the ownership from the Seller to the Buyer. However, the practice shows that preparing such data for the said date is actually impossible, and the process of obtaining and processing it can take weeks or even months after the Share Purchase Agreement has been concluded. So how does it work?

18 January 2021
Weronika ZIEMNICA

Business operations often involve foreign currency transactions. These transactions should be accounted for in the domestic currency, which means they must be translated, measured and properly presented. This, in turn, raises a number of questions about domestic and international reporting. The regulations found in International Accounting Standard 21 “The Effects of Changes in Foreign Exchange Rates” offer a helping hand here.

24 November 2020
Krzysztof CIESIELSKI

Locked box is a formula for closing M&A transactions that is proving increasingly popular in recent years and tends to replace completion accounts. What is essential for the locked box arrangement is that the transaction price is determined on the basis of the historical balance sheet at a pre-signing date and is not then subject to any post-completion adjustment.

9 October 2020
Julita JANUSIEWICZ

In the wake of the outbreak, many questions were asked about how employers are supposed to keep the workplace safe. As the number of COVID cases continues to grow, more and more doubts are being raised. What are the rights of the employer, and those of the employee? How can an organisation transform its work rules in order to cope with the new reality? It is a good idea to gain some insight into self-isolation, because I have a feeling that this word is here to stay for a long time.

6 October 2020
Joanna WILCZYŃSKA

Doing the bookkeeping on your own is not always and not necessarily a good idea, and that is mainly because the accounting and tax regulations are confusing and their interpretations differ. Our long experience in saving sinking ships shows that it is simply better to leave some things to professionals.

Therefore, what should you focus on when analysing the offers of accounting firms? Here is a handful of good tips.

24 September 2020
Iwona JACKIEWICZ

Expectations towards accountants are growing, and it is sometimes difficult to meet these expectations due to many, often contradictory, regulations. What helps to overcome accounting intricacies is good software, but this is not a solution to everything. Therefore, what an accountant can do in order to effectively navigate through the meanders of accounting?

23 September 2020
Paulina PRUSIK

When keeping the accounting books, you come across many economic events you are obliged to correctly recognise in the financial statements at the end of the reporting period. Sometimes you come across unusual, less common events, such as inventory valuation or reserve recognition. Non-current assets held for sale and assets related to discontinued operations, regulated in detail in IFRS 5, are other examples here.

21 September 2020
Kamila GUŹLIŃSKA

Foreign entrepreneurs who want to start their business in Poland may open a branch of their foreign company on the territory of the Republic of Poland, and in this article I will share some insight as to what this branch office and its accounting is like.

21 September 2020
Magdalena MICHAŁOWSKA

The revolutionary draft amendment of CIT and PIT Acts has recently been published amidst plenty of controversy, in particular about the CIT taxation of limited partnerships. This is one out of many changes suggested by the legislator and discussed in our Tax Alert. Important amendments that are supposed to enter into force in the beginning of 2021 include transfer pricing regulations, and that is what we are going to focus on in this article.

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