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Extended Transfer Pricing Documentation Deadlines for 2020

28 April 2021
Tomasz BEGER
Taxpayers will most certainly be happy to learn that on 8 April 2021 the President signed the Act Amending the Excise Tax Act and Certain Other Acts, which extends the deadline for transfer pricing reporting.
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New explanations on transfer pricing adjustment

27 April 2021
Tomasz BEGER
In early April 2021, the Ministry of Finance published explanations on transfer pricing adjustment. These explanations do not constitute the source of law; they are rather an attempt at offering some insight into how to apply legal regulations on transfer pricing adjustments between related entities. In this post, we are going to take a closer look at the most important insights included in the explanations published by the Ministry of Finance.
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Polish regulations on the accounting for output and input VAT on the intra-Community acquisition of goods are in breach of EU law

19 March 2021
Przemysław POWIERZA
Yesterday (18 March), the European Court of Justice issued a judgement that is very important for Polish taxpayers. It is a preliminary ruling in case C-895/19, where it was ruled that the Polish regulations on VAT refund in the case of late recognition of ICA are in breach of EU regulations.
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Facilitation in VAT for businesses from the UK, Norway and Northern Ireland – update

26 February 2021
Przemysław POWIERZA
Od 1 stycznia 2021 r. Wielka Brytania w relacjach handlowych z państwami Unii Europejskiej traktowana jest jako państwo trzecie. Oznacza to dodatkowe obowiązki dla brytyjskich przedsiębiorców dokonujących czynności opodatkowanych podatkiem od towarów i usług w państwie członkowskim UE (np. w Polsce).As of 1 January 2021, the UK is deemed a third party in business relations with EU member states. This translates to additional obligations for UK businesses performing activities subject to VAT in an EU member state (e.g. in Poland).
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Easier VAT procedures for British and Norwegian businesses

22 February 2021
Przemysław POWIERZA
As of 1 January 2021, the United Kingdom is treated as a third country in business relations with the European Union. What this means is that any British entrepreneur who performs transactions subject to VAT in Poland and therefore wants to register for VAT purposes in Poland, must appoint a tax representative. However, changes are on the way.
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Estonian CIT

7 February 2021
Piotr LISS
From 2021, certain CIT payers can reinvest their earnings tax-free; this is a tax measure dubbed the ‘Estonian CIT’. It should be noted that this is by no means a reduction of the tax paid; it is about shifting the time when taxable income is recognised while making the accounting records simpler.
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New VAT arrangements as of 1 January 2021

19 January 2021
Przemysław POWIERZA
We would like to present the amended Polish VAT regulations that entered into force on 1 January 2021 and may have a material effect on how you account for VAT. We encourage you to take a closer look at it and contact your RSM Poland consultant immediately should you have any questions.
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Anti-crisis Shield 6.0 – new support for employers of selected industries

30 December 2020
The Industry Shield, also known as Shield 6.0, has finally been signed. The vast majority of the provisions of the Act of 9 December 2020 amending the Act on special solutions related to preventing, counteracting and combating COVID-19, other infectious diseases and crisis situations caused by them, and certain other acts (Journal of Laws, item 2255) entered into force on Wednesday, December 16, 2020. However, many regulations on important forms of support will not come into force until the end of December.
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New support scheme: get a tax deferral until the end of 2022

14 December 2020
Przemysław POWIERZA
The European Commission has approved the Polish request to increase the threshold of state aid granted by tax authorities in the form of tax reliefs being either tax deferrals or tax instalments. This threshold will now be EUR 800,000.
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Requirement to prepare and publish tax strategy reports from 2021

10 November 2020
Piotr LISS
Last week, the Sejm adopted a whole range of amendments of tax regulations. Apart from the fact that CIT will be levied from limited partnerships and the Estonian CIT will be introduced, taxpayers should also note the provision that is going to enter into force on 1 January 2021 and require companies to prepare the information about their tax strategy for the fiscal year and publish it to make it available to the public. However, this obligation will only apply to the largest taxpayers and tax capital groups.
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Polish bad debt relief in VAT is in breach of the EU law

27 October 2020
Przemysław POWIERZA
The CJEU issued a very important ruling that the Polish regulations on bad debt relief are inconsistent with Directive 2006/112/EC.
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Draft amendments to PIT and CIT rules have been published

24 September 2020
Piotr LISS
We informed you in the first week of September that information on the work on the draft of major changes in the PIT and CIT taxes was published on the Council of Ministers’ website. Yesterday the draft saw the light of day and, unfortunately, it confirmed major concerns associated with it. The proposed amendments involve a number of matters that have been previously signalled, including, most notably, the corporate income tax (CIT) being imposed on limited partnerships. The changes are to enter into force as of the beginning of 2021.
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Limited partnerships will have to pay CIT? Another possible revolution in income taxes

11 September 2020
Piotr LISS
In recent days, the website of the Council of Ministers informed about the planned amendments of income tax regulations. According to the announcement, the prospective changes will involve CIT taxation of limited partnerships and, in special cases, of general partnerships.
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Anti-crisis shield 4.0 – learn about changes affecting employers and employees

29 June 2020
The effects of the COVID-19 epidemic are noticeable in all economic sectors across the country. Since the beginning of the epidemic, the government has been working on solutions to help entrepreneurs save jobs.
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Stimulus package for German economy

18 June 2020
On 3 June 2020 the German government agreed on a EUR 130 billion stimulus package to help revive the German economy hit by the COVID-19 pandemic and the resulting recession. One of its postulates focuses on boosting consumer spending by lowering VAT rates: the standard rate is to be reduced from 19% to 16% and the reduced rate of 7% will be reduced to 5%. Lower tax rates will apply from 1 July until 31 December 2020. Now the package has to be approved by the German Bundesrat.
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Postponement of deadlines for the fulfilment of transfer pricing obligations

4 June 2020
Tomasz BEGER
What an unexpected twist – the Polish Government proposes to postpone the deadline for the fulfilment of transfer pricing obligations. These changes are included in the next anti-crisis draft act on subsidizing interest rates on bank loans granted to ensure financial liquidity of businesses affected by COVID-19 and amendments to some related acts (hereinafter: Shield 4.0), published on 28 May on the website of the Government Legislation Centre. Pursuant to the proposed changes, taxpayers will be given three additional months to meet the reporting obligations concerning transfer pricing. Below we discuss the scope of these changes.
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New JPK_VAT obligatory from October?

2 June 2020
On Thursday, 28 May 2020, the Ministry of Finance announced that due to the current state of pandemic caused by SARS CoV-2 virus, the deadlines for submitting the new JPK_VAT for all taxpayers will be postponed from 1 July to 1 October 2020.
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ICS2 – New instrument for EU customs authorities

25 May 2020
In accordance with the European Commission’s Communication on EU strategy and action plan for customs risk management, on 15 March 2021 the European Union is launching a new EU customs pre-arrival security and safety programme, the so-called ICS2 (ImportControlSystem2). The programme will be launched to strengthen the protection of the internal market and EU citizens. ICS2 will replace the ICS programme.
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CJEU: a subsidiary fails to predetermine the existence of a parent company’s fixed establishment

13 May 2020
On 7 May 2020 the European Court of Justice issued a judgement in the case involving a Polish company Dong Yang Electronics sp. z o. o. (hereinafter: “Dong Yang”) and the Director of the Tax Administration Chamber in Wrocław (C‑547/18), in which it stated that a service provider cannot determine the existence of a fixed establishment in a member state of a company seated in a country outside the EU on the basis of a mere fact that the company has a subsidiary in this member state and that the service provider is not obliged to verify, for the purpose of such a determination, the contractual relationships between these entities.
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COVID-19 affecting transfer pricing – risks and challenges faced by related entities

12 May 2020
Tomasz BEGER
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.
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