Locked content Grupa Żywiec may pay PLN 68 mln fine

Grupa Żywiec may have to pay a PLN 68 million fine as a result of control by tax office in Katowice, the company informed. The control referred to the 2013 corporate tax declaration. According to the tax office protocol, Żywiec incorrectly accounted for revenues and costs related to the settlement o...

Locked content CIT amendments could hurt the economy – KNF

According to the Financial Supervision Authority KNF, the changes proposed by the finance ministry to the CIT could be harmful to the country’s economy. Especially affecting in a negative way insurers, brokerages and investment vehicles. “Separating capital gains and other profits and taxing them se...

Locked content FinMin working on new tax for multinationals

The Finance Ministry is working on draft amendments to the tax law which would force multinational corporations to pay income taxes in the country where the profit is generated. “The main purpose of the draft law is to link the tax paid by international companies to the place of income,” the ministr...

Locked content FinMin: VAT bill to bring PLN 3.4 bln annually

Poland expects PLN 3.4 billion in annual value-added tax (VAT) revenue boost on the implementation of a package of VAT tightening solutions, according to a draft bill presented by the Ministry of Finance. Most of the solutions are to take effect as of January 1, 2017, estimated at PLN 3.1 billion. T...

Locked content President signs bill on reducing CIT to 15%

On Friday, September 23, Polish President Andrzej Duda signed a bill on corporate income tax (CIT) for small firms, which assumes the reduction from 19 percent to 15 percent as of January 1, 2017. The lower CIT rate will be applied to companies with annual turnover of up to €1.2 million (PLN 5.28 mi...

Locked content CBOS: 85% of Poles rate taxes as too high

As much as 90 percent of Polish citizens believe the state spends their tax money irrationally, according to the latest survey by pollster CBOS. Also 85 percent of Poles said that taxes in Poland are too high in relation to what the state provides for its citizens. Meanwhile, 78 percent of responden...

Locked content Poland to receive PLN 27.7 bln from new tax regulations

According to a draft bill sent by the Finance Ministry to the PM’s chancellery, Poland expects to receive PLN 27.7 billion in the coming 10 years due to new fuel trade tax regulations and additional VAT. The ministry states that currently, Poland loses PLN 2.5-5.0 billion annually on account o...

Locked content Gov’t to put tax on e-stores

The Polish government is not only going to impose a tax on retailers but on e-stores as well, Rzeczpospolita daily reported. According to the daily, some 20,000 e-stores operating in Poland may have to pay turnover tax. “Polish entities will be forced to implement higher prices which will lowe...

No income tax for youth under 30 – gov’t proposal

Following Law and Justice’s (PiS) plans outlined last weekend to introduce child benefits, to lower the retirement age from 67 to 63 and to raise the income tax threshold to PLN 8,000, the ruling Civic Platform is striking back and preparing its proposals.

Locked content Poland collects taxes inefficiently – IMF

International Monetary Fund said in a report for the Ministry of Finance that Poland is performing poorly in collecting taxes, especially VAT and CIT. The report suggests that the tax collection (PIT, CIT and VAT) was more efficient before the crisis and stood at 16 percent of GDP in 2008 and the fi...