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Entries from September 2015

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28 September 2015
Karina KOPCZYŃSKA

Art. 79 p. 4 of the Accounting Act indicates that whosoever, contrary to its provisions, fails to submit financial statements or management reports to the relevant court register, is liable to a fine or penalty of restriction of liberty. Penalties for failure to submit financial statements are also due to the Fiscal Penal Code.

22 September 2015
Przemysław POWIERZA

When at the beginning of 2003 first provisions concerning the interpretation of tax law were included in the Tax Ordinance Act, the Polish Ministry of Finance proudly announced its great success. Taxpayers were informed that, from this day on, legal certainty shall increase significantly, resulting from the fact that the interpretation and application of legal provisions will be, technically speaking, known in advance. In practice, as it usually happens, it turned out that the greatest problem is to ensure the uniformity of issued interpretations (initially such interpretations were to be obtained from the head of each tax office, at present they are issued only by a few entitled directors of tax chambers) and to determine the scope of protection guaranteed to taxpayers applying for an interpretation.

14 September 2015
Leszek WOZIŃSKI

Business transactions conducted by taxpayers require appropriate documentation.

That is a reason for keeping tax books. They constitute an evidence for proper accounting and they should, therefore, reflect the actual state.

Only reliably and correctly kept books may be considered an evidence in the case of tax proceedings pending before tax authorities.