This is to draw your attention to new legislation passed by the Sejm on 4 June 2020 and called the Act on interest support for credit facilities extended to provide liquidity to businesses affected by COVID-19 consequences (“Shield 4.0”).
Shield 4.0 amends Article 31z to provide that the deadline to file transfer pricing reports (TPR) and local file representations is extended:
- until 31 December 2020 where the original deadline expires between 31 March 2020 and 30 September 2020;
- by 3 months where the original deadline expires between 1 October 2020 and 31 January 2021.
A practical consequence of this for taxpayers whose tax years coincide with the calendar year is that the extended deadline for the filing of TPR reports and local file representations will fall on 31 December 2020. What is more, if such taxpayers make use of this extension, they will have a new deadline for the filing of their master files, i.e. until 31 March 2021.
Shield 4.0. has been transmitted to the Senate for approval and will then be sent for presidential signature to become law.
If this issue pertains to your business and you are interested in our assistance, please contact your WTS&SAJA consultant
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