A law amending income tax legislation was signed by the President on 28 November 2020 and officially published on 30 November 2020. Thus, the income tax changes will become effective on 1 January 2021, as scheduled.
The major changes to corporate income tax introduced by the original bill passed by the Sejm (see our Newsletter no. 57 of 10 November 2020) will remain basically the same because most of the revisions proposed by the Senate have been ultimately rejected by the Sejm. Consequently, 1 January 2021 will see entry into force of a number of regulations addressing such matters as:
- restriction of deductibility of tax losses in course of restructuring,
- treatment of income on sale of real estate entities,
- requirement to file tax strategy reports,
- transfer pricing changes,
- corporate income tax on limited partnerships.
Attached we are sending a summary of the major CIT changes to be introduced by the new law:
Newsletter – MAJOR CIT CHANGES FOR 2021
If these issues pertain to your business and you are interested in our assistance, please contact your WTS&SAJA consultant.
Doradztwo Podatkowe WTS&SAJA Sp. z o.o.
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ul. Roosevelta 22
60-829 Poznań
tel. (+48) 61 643 45 50
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02-001 Warszawa
This Newsletter 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.