As a result of the recently introduced statutory changes, many limited partnerships in which a limited liability company is the general partner are transforming into other legal forms. How to correctly perform activities related to such transformation?
Marcin Borkowski, Ph.D., with his latest article for Dziennik Gazeta Prawna.
The whole text can be downloaded from the attachment below the entry.
As of 1 January 2021, settlement of losses following a takeover of a company or an organized part thereof will be more complicated and sometimes even impossible. What is worse, imprecise regulations may result in disputes with tax authorities.
Commentary by Mateusz Pietranek, a tax advisor from GWW's income tax team, can be found in Dziennik Gazeta Prawna.
– as of 1 January 2021, changes in CIT and PIT will affect restructuring in three areas:
The whole commentary can be found in the material by Łukasz Zalewski dated 21 December 2020, which can be downloaded below.
We would like to wish you a very merry Christmas and a happy and prosperous New Year.
We would like to inform you about the Christmas holiday in our offices between 24 and 25 December 2020.
We know winners of the 19th edition of the “Podkarpacie Region Economic Award 2020” competition organized by the Business Promotion Center in Rzeszów in cooperation with the Marshal of the Podkarpackie Voivodeship and the Podkarpacki Voivode. This year's edition was held under the Honorary Patronage of the Marshal of the Senate of the Republic of Poland, Tomasz Grodzki, and the Ministry of Development. The Podkarpackie Voivodeship is a partner of the Competition.
GWW law firm was once again one of the awarded companies. We received a distinction in the “Best Services” category for GWW IP Protect – comprehensive protection of intellectual property.
More information about the Podkarpacie Region Economic Award: https://png.pl/
Our experts held another training for member companies of the Polish Association of Developers (PZFD) in Wrocław. This time, Joanna Sebzda-Załuska and Paweł Wójcik summarized key legal changes that were introduced in 2020 and also discussed what changes are planned in legal regulations for next year. Knowledge of the planned regulations enables better preparation of new development projects and gives market advantage.
We would like to thank all PZFD members for joining the webinar in such a large number and active participation!
As of 1 January, regulations concerning the tax strategy will come into force. They will impose a new reporting obligation on some taxpayers. There will be severe financial penalties imposed for failure to meet the publishing requirements. The problem, however, is that the Act does not contain a definition of a tax strategy, explains Mariusz Tkaczyk, tax advisor, partner at GWW Tax.
An interview with Mariusz Tkaczyk on the provisions on tax strategy can be found in today's edition of Prawo.pl. https://www.prawo.pl/podatki/obowiazek-publikowanie-strategii-podatkowych-od-stycznia-2021,505220.html
The year 2020 was not too easy for companies in Poland. The next one will not be easier – especially if we look at changes in the tax law. We will have a big revolution in the rules of taxation of incomes earned by limited partnerships and general partnerships. Starting from January, they will have to pay double tax.
Today's material begins a series of articles on Prawo.pl concerning changes in income taxes, written by GWW experts .
Whoever decides to issue and send structured electronic invoices via the ministerial platform may hope for tax benefits.
We will find an interview on the introduction of the National System of e-invoices with Wojciech Śliż, tax advisor and GWW partner, in today's issue of Gazeta Prawna.
How do you find the plan to introduce an ICT system that would allow businesses to issue and send structured invoices to their contractors?
Introduction of such a possibility is a clear signal that the Ministry of Finance has decided to use the Italian model, in which this solution was effective in years 2017–2018. As of 2019, structured electronic invoices are essentially the only form of issuing VAT invoices in Italy. An assumption should be made that the Ministry of Finance’s intention is to have this solution as the target one also in Poland. The Italian example showed that the widespread introduction of structured invoices significantly limited the possibility of committing invoice-related offenses and resulting VAT fraud. However, it should be remembered that the closing of loopholes took place in Italy only with the introduction of the obligatory, not voluntary, form of a structured invoice. The period of operation of the voluntary system is the time of testing the ICT system. Therefore, the benefits included in the Polish assumptions and published in the government's catalogue seem not to be fully thought out.
Why do you think so?
It is about exemption from the obligation to store and archive structured invoices. I must admit that I do not quite understand the essence of this incentive. Maybe it is rather that structured invoices will be stored and archived for a company in the ICT system of the Ministry of Finance? The proposal that taxpayers issuing only structured invoices could receive refunds of the excess of input tax over the output tax at an accelerated pace is even more surprising. It is obvious that the specified time limit for the refund of the excess VAT is used by the tax authorities to verify purchase invoices and the input tax they contain. But how would the issuing of sales invoices by companies in a structured form affect this verification? I truly hope that the Ministry of Finance will be able to explain this in the justification to the draft amendment.
Could obligatory structured invoices replace single audit files (JPK files) in the future?
I think that both these solutions could and should coexist in the future. Existence of structured invoices without JPK reporting would deprive the tax administration of information about which invoices were finally included in the VAT return. It would therefore not allow automatic analysis of the correctness of returns or the planned preparation by the tax administration of pre-filled VAT returns.
Link to the whole interview: https://podatki.gazetaprawna.pl/artykuly/1498314,krajowy-system-e-faktur-coraz-blizej-do-wprowadzenia.html
In the adopted amendment to the PIT and CIT Act, which will come into force on 1 January 2021, apart from many other essential changes, Article 27 c was added, pursuant to which selected taxpayers will be required to prepare and publish on their websites a report on the implementation of the tax strategy for a given tax year.
This applies to entities with revenues in excess of EUR 50 million and to Tax Capital Groups.
You will find more information in the alert to be downloaded below.
We already know who will be entitled to the financial aid under the Financial Shield 2.0. – businesses from 38 industries that had to limit or suspend their activities due to the epidemiological situation related to COVID-19 may apply for support.
Deadline for submitting applications is planned for January and February 2021.
You will find more information in the tax alert, which can be downloaded from the link below.
