This is to let you know that certain corporate income tax forms have been redesigned. The new forms have been introduced under the Finance Minister regulation of 9 April 2020 to amend the regulation laying down forms for tax declarations, returns, statements and information with respect to corporate income tax (“Regulation“).The Regulation entered into force one day after publication, i.e. on 17 April 2020.
The following forms as amended by the Regulation will apply in reporting net income (loss) for any tax year commencing after 31 December 2019: CIT-8, CIT-8AB, CIT-8/O, CIT/BR, CIT/8S, CIT/8SP, CIT/PGK, CIT/IP, CIT/WW.
Note also that the Regulation introduces forms CIT/WZ and CIT/WZG which are to be filed for the first time with respect to tax years commencing after 31 December 2019. Specifically, these are forms for the purposes of bad debt relief provisions applicable in CIT as of 1 January 2020. The forms are to be used to report:
- commercial transaction claims and debts which decrease or increase taxable basis (loss) (form CIT/WZ);
- commercial transaction claims and debts which decrease or increase taxable basis (loss) for a member of tax group (CIT/WZG).
The new forms necessitated appropriate changes to form CIT-8.
If this issue pertains to your business and you are interested in our assistance, please contact us.
This blog post is provided for general information purposes to keep you up-to-date with changes in tax law, tax rulings by authorities, case law of courts and interesting commentaries. Doradztwo Podatkowe WTS&SAJA shall not be held legally liable for any acts or omissions resulting from reliance on such information.