Tax news - page 6

The introduction of a split payment mechanism has been discussed for a long time now. We wrote about it in June last year (20/2017). The new law was meant to be valid from 1 January 2018. Now we know it will be valid from 1 July 2018.

In the previous Tax Alert, we were informing you about the plans of the Ministry of Finance concerning the prolonging of the deadlines related to the submission of documents and reporting within the scope of tax documentation. Now it is certain – the order in question was signed by the Minister of Finance and on 15 March 2018, which is the day of its publication (Journal of Laws 2018, item 555), entered into force. In the Tax Alert in question, we shall summarise the regulations introduced within that scope.

22 February 2018, draft Regulation of the Ministry of Finance extending deadlines for the  transfer pricing reporting, was published on the Government Legislation Center website. In accordance with the draft Regulation, taxpayers will have additional six months to fulfill the reporting requirements. In this Tax Alert we present you with the planned changes.

On 24 January 2018, the Ministry of Finance issued a general interpretation clarifying some technical issues related to the preparation of tax documentation. The document clarifies issues that are confusing for taxable persons concerning, e.g. the method of determining documentation thresholds and relevant classification of transactions as transactions of one type.