Directive (EU) 2021/2101 of the European Parliament and of the Council of 24 November 2021 amending Directive 2013/34/EU as regards disclosure of income tax information by certain undertakings and branches (OJ L of 2021, 429, p. 1) has been implemented in Poland by amendments to the Accounting Act of 29 September 1994 (Journal of Laws of 2023, items 120, 295 & 1598) which require large multinationals doing business in the EU to draw up, publish and make accessible a report on income tax information. The new requirement will apply to ultimate parent undertakings and standalone undertakings whose revenues as per the consolidated financial statements or annual financial statements exceed PLN 3.5 billion for each of the last two financial years. The requirement may apply also to subsidiaries and branches which meet certain criteria laid down in the new law.
The report on income tax information is to be submitted by management to the appropriate registration court and posted on the undertaking’s website within 12 months from the balance sheet date.
The regulations will apply starting with income tax reports to be issued for the first financial year commencing after 21 June 2024.
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