On 15 November 2024, the Government Legislation Centre published draft Finance Minister regulation of 12 November 2024 on the exemption from the duty to file such data from the company register of tangibles and intangibles as are otherwise required to be submitted under the CIT Act.
The draft proposes a temporary exemption for:
- corporation tax payers,
- tax groups, and
- unincorporated partnerships
so that they will not have to make electronic submissions of their tangibles and intangibles data to tax offices during the first year after the relevant regulations take effect.
This means that if the draft becomes a law and is duly published as such, it will take effect on 1 January 2025 and so the electronic JPK_ST_KR filings will not have to be made with respect to the tax year (or, for unincorporated partnerships, the fiscal year) beginning after 31 December 2024 but before 1 January 2026.
We will keep you up to date on the progress of this legislation.
If this issue pertains to your business and you are interested in our assistance, please contact us.
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