On Friday, 21 October 2022, the President signed an Act of 7 October 2022 to amend the Corporate Income Tax Act and certain other acts (“Amending Act”), which provides for further revolutionary revisions to what is called the Polish Deal. The new law is generally supposed to enter into force on 1 January 2023, save for exceptions laid down in the Amending Act.
The following are among the most important changes:
- Regulations on indirect transactions with tax havens are repealed retroactively and TP documentation thresholds are increased for direct transactions with tax havens.
- Regulations on minimum income tax are amended and deferred.
- Changes to withholding tax (WHT).
- Changes to regulations concerning tax on shifted income.
- Changes to treatment of borrowing costs.
- “Hidden dividend” regulations are repealed.
For details on changes to CIT and TP regulations, please see our earlier publications.
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.