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Tax alerts - archive - page 9

[20/2016] Double taxation problem
27 May 2016
Piotr LISS
On 13 April 2016 a questionable ruling was passed by the Supreme Administrative Court (hereinafter: SAC) in a case with reference number II FSK 668/14, in which the court ruled that the exercise of stock options and restricted share units received from a company as part of an incentive scheme creates the employee's income. The employee's income is created again when the employee sells the shares. However, he or she will not be able to reduce it by the cost equal to the proceeds from converting the options to shares. In the Tax Alert below we would like to familiarise you with the discussed ruling which practically leads to double taxation of the same income.
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[19/2016] VAT records in SAF-T
24 May 2016
Tomasz BEGER
On Friday 13th & 19th May 2016 the Polish Parliament passed an act amending the Tax Ordinance Act and certain other acts that, i.a. introduces an obligation of automatic monthly transfer of information on VAT records, referred to in article 109 paragraph 3 of the Act on Tax on Goods and Services (Journal of Laws of 2011, No. 177, item 1054 as amended). The transfer is to be performed within the logical structures of the Standard Audit File for Tax (hereinafter also referred to as SAF), i.e. it will apply to entities that keep tax books using computer software. The change was proposed during the work of the permanent parliamentary subcommittee for tax system monitoring on the amendment of the Tax Ordinance Act, aimed at the introduction of a clause against double taxation into the Polish legal order, and was passed by the parliamentary Public Finance Committee (document 464).
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[18/2016] New Customs Code - the consequences for VAT

4 May 2016
Przemysław POWIERZA
For imported goods, customs valuation has a direct impact on the amount of VAT as it forms the base for tax calculation. In respect of the importation of goods, the taxable amount is the value for customs purposes and the duty payable.
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[17/2016] New Customs Code
22 April 2016
Przemysław POWIERZA
Importers and exporters are about to face a customs revolution. In the place of the provisions of the Community Customs Code, the provisions of the EU Customs Code (hereinafter: EUCC), adopted on 9 October 2013 by Regulation (EU) No. 952/2013 of the European Parliament and the Council, are to take effect. Its provisions shall apply from 1 May 2016 when delegated and implementing acts referring to the EUCC have been adopted and entered into force. Therefore, economic operators conducting foreign trade have to be prepared for significant changes.
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[16/2016] Tax avoidance clause
20 April 2016
Piotr LISS
On 22 March 2016, a draft act amending the Tax Regulations Act and some other acts (hereinafter: "Draft") was submitted to the Sejm. The Draft provides for the introduction into the Polish legislation of a clause against tax avoidance. The proposed amendments are likely to come into force within the next two, three months.
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[15/2016] Cancellation of tax arrears
4 April 2016
Przemysław POWIERZA
According to Art. 67a § 1 of the Tax Ordinance, hereinafter referred to as the TO, the tax authority may, upon the request of a taxpayer - in cases justified by important taxpayer's or public interests - postpone the date of tax payment or arrange for the payment to be made in instalments. Taxpayers are entitled to the same in respect of tax arrears and the interest accrued. Under the said provision, it is also possible to cancel, in whole or in part, tax arrears, late payment interest or a grace period fee.
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[13/2016] Draft amendments to the Corporate Income Tax Act
29 March 2016
Piotr LISS
A draft bill was published on 22 February 2016 to amend the Personal Income Tax Act and the Corporate Income Tax Act. This Tax Alert discusses the proposed changes to the Corporate Income Tax Act ("CIT Act"). As pointed out in the motivation to the draft, the changes are to clarify the currently existing solutions and remove any interpretative doubts.
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[14/2016] The final logical structures of the Standard Audit File for Tax
29 March 2016
Tomasz BEGER
The issue concerning the Standard Audit File for Tax (further referred to as "SAF-T") has been already discussed in one of our recent publications (Tax Alert). At that time it was not yet clear what exact form it would take. It was not until Wednesday, 9th March 2016, following analysis of the results of public consultations, that the Ministry of Finance presented the final structure of the file. It can be accessed using the Tax Administration and/or Fiscal Control tabs at the website of the Ministry of Finance (link).
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[12/2016] Transfer pricing reporting in new regulations
1 March 2016
On 27 October 2015 the President signed the act amending the personal income tax act, the corporate income tax act and other acts (hereinafter "Act"). This act introduces, among others, fundamental changes in the scope of transfer pricing reporting. The outline of the changes in question was already presented in one of our previous publications. However, the final content slightly differs from what was included in the draft legislation. The changes will take effect in two stages: the minor part from 01 January 2016 and the vast majority from 01 January 2017. Among the provisions indicated below only the ones relating to Country-by-country reporting will come into force at the beginning of the new year, whereas the obligation to apply the remaining regulations will be effective after 31 December 2016.
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[10/2016] Adjusting costs when awarded a grant
29 February 2016
Piotr LISS
The recent justification for the Resolution of 7 judges of the Supreme Administrative Court (hereinafter referred to as the "SAC") of 14 December 2015, ref. No. II FPS 4/15, states that the one-off classification of expenses financed by a grant as tax deductible costs may be adjusted on a current basis - after obtaining refinancing. In this Tax Alert, we would like to present Sac’s interpretation which is very favourable for taxpayers financed with grants.
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