Tag Archives: Taxes Poland

31 Jan

Instead of €15,000.00 now only 15,000.00 PLN

In order to restrict the shadow economy, the legislature has significantly reduced the legally permissible limit for the execution of business transactions with cash in this year. Until now cash transactions with an equivalent value of up to 15,000.00 EUR were possible, the limit is now only maximum 15,000.00 PLN (about 3,500 EUR). The reduction

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31 Jan

Amendment regarding real estate purchases by foreigners in Poland

The legislature has expanded the information requirements for the purchase of real estate by foreigners. Notaries are now obliged to submit to the Ministry of Interior, Warsaw. Also, notarised contracts for the sale of shares, shareholder shares or rights and obligations on the basis of which foreigners become owners or co-owners of commercial properties in

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30 Jan

Self-marketing for small farmers without VAT in Poland

On the 1st January, 2017, Poland’s President Andrzej Duda introduced legislation to make it easier for small farmers to self-market their products. This regulation stipulates that no sales tax on these products is levied on an annual income from the direct sale of agricultural products up to 20,000.00 PLN. The legislature introduced the term ‘agricultural

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30 Jan

Corporate Income Tax (CIT) reduced to 15%

From the beginning of 2017, the Corporate Income Tax (CIT) on companies which are classified as so-called small taxpayers was reduced from 19% to 15%. A small taxpayer will be companies which have achieved revenue from the previous tax year lower than the Złoty equivalent of 1.2 million EUR. The value is inclusive of the

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30 Jan

Security deposit when registering as a VAT taxpayer

The PiS government has introduced a new fiscal instrument to combat tax fraud, with the registration termination starting in 2017. The payment of a security deposit for the declaration of a company subject to VAT is due from those companies which are at risk of not fulfilling their tax obligations. The head of the respective

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