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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 Spółka Doradztwa Podatkowego S.A.
The publisher’s and the editor’s address: Droga Dębińska 3b, 61-555 Poznań
Editor-in-chief: Izabela WOŹNIAK

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19 June 2018
Piotr STASZKIEWICZ

The last time we discussed lease contract modifications. The next thing that should be addressed and is present in the economic reality is the leaseback. It is very often the case that entities first purchase a given fixed asset (a building, specialist equipment or manufacturing machine) but then, given the lack of funds or as a consequence of streamlining the financing of their investments, decide to sell this asset and lease it back later.

18 June 2018
Przemysław POWIERZA

In the previous parts of this series, we discussed assumptions behind evaluating due diligence at the onset of cooperation with a contractor. The criteria of analysing due diligence for continued collaboration with the current supplier of goods constitutes the next topic.

11 June 2018
Przemysław POWIERZA

In the previous post, we have managed to discuss most assumptions behind observing due diligence at the onset of cooperation with a new contractor. However, this is not all you can do in order to protect yourself against negative ramifications of dubious transactions. What else should be done? You will find the answer to this question below.

28 May 2018
Przemysław POWIERZA

In the latest post on the blog, we discussed some of the factors the National Revenue Administration officials will be guided by in evaluating due diligence compliance by a taxpayer at the onset of the taxpayer’s cooperation with a contractor. Today we will continue on this topic, hence we are going to take a closer look at the remaining assumptions.

22 May 2018
Piotr STASZKIEWICZ

In this article, resuming the topic of IFRS 16, we will have a look at situations in which a lease contract has been modified. In the opening remarks it is worth recalling that any changes of the interest rate, being the basis for calculating the lessor’s interest, or any changes of the index (e.g. inflation level), being the basis for calculating lease payments, are already included in the variable payments and shall not be discussed here any further. Any such changes result only in the need to make adjustments to the outstanding liabilities and adjust the right-of-use assets accordingly.

21 May 2018
Przemysław POWIERZA

In the last Tax Alert, we informed you that a Methodology had been published to present common guidelines addressed to tax officials and concerning the evaluation of due diligence compliance by the taxpayer. Today I am going to present my first post dedicated to this topic, in which I will discuss the guidelines set forth in the Methodology and outline potential risks that may arise if you ignore the Ministry’s guidelines for the National Revenue Administration officials.

7 May 2018
Piotr STASZKIEWICZ

Much has been said so far about possible exclusions from the new standard, the valuation of assets and liabilities, discount, implementation of the new standard or lease components. Another issue that should be considered on the so-called inception date is the definition of a lease contract. According to IFRS 16, a contract is a lease if, in return for payment, it has the right to exercise control, including but not limited to obtaining economic benefits, over the use of an identified asset for an agreed period of time.

30 April 2018
Justyna CHRZANOWSKA

So how do we go about bookkeeping if we want to seize the opportunity of keeping the books abroad within the established structures, which reduces the company’s costs, while avoiding any additional costs that may be incurred in the event the correctness of the bookkeeping is challenged? Theoretically the easiest, yet often the most difficult solution is to rely on properly configured bookkeeping software.

30 April 2018
Piotr STASZKIEWICZ

In the last article we mentioned that individuals may apply the new standard in the same way as other new standards – with a full retrospective approach. The modified retrospective approach may be of much greater interest. We cannot forget the opening balance adjustment completely, nevertheless the International Accounting Standards Board agreed to significant savings in time and costs when changing standards and implementing IFRS 16 by limiting the restatement of comparative years.

24 April 2018
Justyna CHRZANOWSKA

When a year ago one of our colleagues, Radosław OSMÓLSKI, wrote about the major pitfalls of using a foreign accounting system for keeping the books of accounts of a Polish company (read here), we have already had some experience both when it comes to shadow accounting and advisory on system solutions enabling reporting that would meet the needs of the Polish financial reporting and tax system. However, we are moving on every year, as we are working with an ever growing number of foreign financing and accounting systems and we are looking for even better solutions for our customers, so that doing business in Poland does not become a bureaucratic nightmare for them. That is why today we are going to focus not only on the form, but also on the place of bookkeeping.

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