Newsletter RSM Poland - page 3

Zmniejszone przychody, zwiększone koszty, przestoje w produkcji, problemy z dostawami materiałów i surowców, osłabiona efektywność, niewypłacalność – to tylko niektóre z licznych negatywnych skutków, z którymi mierzą się przedsiębiorcy w obecnej sytuacji spowodowanej pandemią koronawirusa SARS-CoV-2. Kryzys gospodarczy wywołany wprowadzeniem w Polsce oraz w wielu innych krajach stanu zagrożenia epidemiologicznego oraz stanu epidemii związanego z rozprzestrzenianiem się koronawirusa stanowi zagrożenie również w kontekście wywiązywania się z obowiązków dokumentacyjnych i sprawozdawczych w zakresie cen transferowych. W niniejszym wpisie przedstawimy kluczowe ryzyka i wyzwania stojące przed podmiotami powiązanymi w zakresie cen transferowych w obliczu wirusa COVID-19.

The President has signed the act amending the act on special solutions related to preventing, counteracting and combating COVID-19, other infectious diseases and related states of emergency and certain other acts, i.e. the so-called anti-crisis shield approved by the Sejm. The main objective of the anti-crisis shield is supporting companies suffering financial loss due to COVID-19 in order to protect work places.

On 26 March on the website of Polish Sejm a draft act amending the act on special arrangements related to preventing, counteracting and combating COVID-19, other infectious diseases, and resulting states of emergency, and certain other acts was published. The draft act will be considered by the Sejm this week.

On 6 August 2019, the President of the Republic of Poland signed the Act of 19 July 2019 Amending Certain Acts in Order to Reduce Payment Backlogs. This amendment, aimed at strengthening the financial liquidity of businesses, introduces an obligation for certain entrepreneurs to submit annual reports on applied payment terms to the Minister of the Economy.

On 5 March 2019, the Sejm received the governmental draft act amending the Value Added Tax Act and the Tax Ordinance Act. After a long while, on 3 July 2019, the Sejm decided to send the draft to the Public Finance Committee. Given the fact that the amendment includes significant changes of the VAT rates, it is a good idea to learn about the planned amendments today.

The Ministry of Finance has published a draft act introducing an obligatory split payment mechanism for certain goods and services. New regulations are supposed to enter into force already as of 1 September 2019. The draft act has been adopted by the Council of Ministers and sent to Sejm.

On the last working day preceding the entry into force of revolutionary solutions in withholding tax, the Minister of Finance once again decided to postpone them. This time, the Ministry of Finance decided that the new regulations on the obligation to withhold tax at domestic rates shall enter into force as of 1 January 2020.

On 12 April, amended VAT, CIT and PIT acts were passed. As of 1 January 2020, more stringent provisions concerning payments for transactions exceeding PLN 15,000 will be in force. Any failure to meet statutory conditions will result in joint and several liability of the purchaser for the vendor’s VAT accounting and denied right to recognise this expenditure as tax deductible. Under the new regulations, foreign entities regitered for VAT purposes in Poland will have to open bank accounts in Poland. New regulations are going to cover limited companies, partnerships and sole proprietorships.

On 15 April 2019, the Act of 4 April 2019 amending the Act on the Exchange of Tax Information With Other Countries and Certain Other Acts (Journal of Laws of 2019, item 694), hereinafter: “Amendment”, was published in the Journal of Laws. The new regulations introduce changes among others in the Country-by-Country Reporting mechanism, hereinafter: “CBC”. This newsletter will give you a summary of the introduced regulations.

The Regulation of the Minister of Finance of 19 September 2018 on declarations of the transport of goods (Journal of Laws, item 1849) has introduced an obligation for consignees and consignors to authenticate the user registered in the Electronic Services Platform of the Customs Service (hereinafter: PUESC) by also providing the entity’s SISC ID, in addition to the login and password, i.e. a 17-digit identification number. This change results from the provisions of Article 9 paragraph 7 of the Act of 9 March 2017 on the Monitoring System for the Road and Rail Transport of Goods (Journal of Laws of 2018, item 2332).