Sometimes leasing equipment and machines abroad is less expensive than in Poland. However, the leasing of such equipment entails additional obligations, which taxpayers are very often unaware of.
Firstly, under tax law, when a Polish entrepreneur purchases equipment rental or leasing services from foreign entities, the regulations on WHT (withholding tax) collection apply.
Companies are increasingly offering a wide variety of employee benefits to their employees. The question which follows is how to value such benefits, especially the long-term ones. This and other matters relating to employee benefits are addressed in IAS 19 Employee Benefits.
In today’s article we would like to give you some insight into transfer pricing adjustment regulated directly by the legislator in Article 11e of the Act of 15 February 1992 on Corporate Income Tax (hereinafter: CIT Act) and, respectively, Article 23q of the Act of 26 July 1991 on Personal Income Tax (hereinafter: PIT Act). We are also going to discuss the position of the tax authorities presented in relevant advance tax rulings that have been issued recently.
If not for Facebook and some extremely nice gentleman who exactly a year ago talked me into taking up ACCA accredited studies, I wouldn’t have passed 9 ACCA exams certifying my professional qualifications and giving me the feeling that I have taken a great step forward in my professional life. I’ve decided to invest in own development and I don’t regret taking up this challenge.
Today, we will once again discuss the most interesting advance tax rulings in individual cases that have been published recently. We hope it will give you some insight into transfer pricing and make it easier for you to prepare your 2019 tax documents. The advance tax rulings that will be analysed here apply to the legislation in force as of 1 January 2019. We will briefly discuss tax rulings on: partnerships, exemptions from the documentation obligation as regards a loss from a revenue stream including the controlled transaction, and the documentation obligation for a cash contribution.
As I mentioned in my previous article on Asset measurement in a state of epidemic and economic slowdown, the measurement should be careful when it comes to right-of-use assets (i.e. leased assets, as they are popularly called), all the more so since an amendment to IFRS 16 has been in force for more than a month now.
Until 30 June 2020, medium and large enterprises could apply for subsidies to compensate for increasing energy prices. This assistance was granted to taxpayers upon request, and subsidies were handed out by the Price Difference Fund from the state budget. The entrepreneurs who have received subsidies are now in for a nasty surprise. Most likely, they will have to account for the assistance they were given.
When complex manufacturing processes make cost accounting insufficient as a source of information for decision making purposes, it is a good idea to opt for activity based costing (ABC). This concept is more than just calculating a unit cost; it is about monitoring the costs of processes and activities in an organisation.
From the investors’ perspective, startups mean high risk and low liquidity. As a result, startup valuation is quite a challenge.
In the previous article, I focused on asset measurement at fair value in the times of economic recession, uncertain future of companies and limited information exchange in the context of IFRS 13 assumptions. What about the measurement of assets to which IFRS 13 does not apply? Contrary to what you may think, there are quite a few of them.
