Author: ts_pm

Companies applying for financial support under the PFR 2.0 Financial Shield for micro-companies and SMEs have doubts relating to the definition of "Fixed costs" referred to in the regulations, the amount of which is used to determine the value of the Financial Subsidy applicable to them. The Polish Development Fund (PFR) published explanations concerning the calculation of "Fixed costs" as well as the rules of spending the Financial Subsidy obtained.

"Fixed costs" within the meaning of the program are calculated as the result of determining the actual gross loss incurred in November and December 2020 and the forecast gross loss in Q1 2021. The result obtained should be adjusted by the costs of updating the value of assets (incurred and forecasted) and expected public aid that the applicant will receive in the first quarter of 2021. In this calculation, the Applicant qualifying as an SME should only include data for the months covered by the Program, i.e. XI-XII 2020 and I-III 2021. The Applicant qualifying as an SME should reduce the gross loss by all:

• public aid, which it received for eligible expenditure, the incurring of which falls in the period from 1 November 2020 to 31 December 2020 or from 1 January 2021 to 31 March 2021 (eligible period) – if it has not yet been included in accounting records;
• operational public aid received, which was not used by the Applicant by the time of applying for the Financial Subsidy under the Program, and
• public aid expected by the Applicant, which would cover the gross loss in the eligible period.

The calculation of "Fixed Costs" should not take into account the financial Subsidy received by the Applicant from the PFR as part of the Financial Shield 1.0 Program for MSME.

Detailed information is available at: https://pfrsa.pl/aktualnosci/tarcza-finansowa-pfr-2.0/wyjasnienie-dotyczace-definicji-kosztow-stalych-oraz-zasad-wydatkowania-uzyskanej-subwencji-finansowej.html

Photo: PFR S.A.

A person convicted of, inter alia, counterfeiting documents, theft or economic offences, may not be appointed to the management board of a company. This results from Article 18 (2) of the Code of Commercial Companies and Partnerships (KSH). What is the scope of application of this ban?

This issue is discussed by Marcin Borkowski, Ph.D., in today's issue of Dziennik Gazeta Prawna.

The Companies' Law specifies the amount of PLN 15,000, which is a sort of a limit for cash payments. Payments in amounts exceeding this limit should, in principle, not be made in cash. Cash payments may also have a negative impact on tax settlements, explains Zdzisław Modzelewski from GWW.

The article by Zdzisław Modzelewski was published today on Prawo.pl: https://www.prawo.pl/podatki/limity-platnosci-gotowkowych-a-podatki,506017.html

Wanting to avoid penalties, companies send lots of requests for interpretations regarding GTU (groups of goods and services) codes to the tax authorities.They need to know not only tax regulations.

COMMENTARY by Zdzisław Modzelewski, VAT expert, GWW partner

Application of GTU codes is irrelevant for correct VAT settlements. Furthermore, requiring companies to provide such information under the regulation exceeds its statutory delegation, which raises serious doubts as to whether it is consistent with the constitution. The VAT Directive does not require such codes either. Businesses should be reassured that they should not be penalized for failure to assign or incorrect assigning of the GTU code to a given sale transaction. The penalty, already known colloquially as the "500- program", can only be imposed for an error that prevents verification of the transaction correctness. Having said so, the lack of or incorrect GTU designation cannot be considered as such an error and apart from that, the tax office cannot identify such irregularities on the basis of JPK_VAT records, when GTU codes are disclosed by one party only – the seller. I also do not see any grounds for imposing penalties under the Fiscal Penal Code on a taxpayer being a natural person.

The article, together with a commentary by Zdzisław Modzelewski, was published in today's issue of Rzeczpospolita.

https://www.rp.pl/VAT/301229970-Firmy-maja-problem-jak-wypelnic-JPK.html 

Until 17 February, micro, small and medium-sized companies can apply for funding from the Polish Agency for Enterprise Development as part of the "Research for the market" competition.

We have prepared some of the most important information for you: http://newsletter.gww.pl/alert/Badania-na-rynek-PARP.pdf 

Information about changes in income taxes entering into force from 2021 can cause headache. We would like to remind to those of you who gain revenues from real estate rental that from 1 January, the option of taxing revenues from rental with a lump-sum tax (scale of 8.5%, 12.5% ​​from the excess revenues over PLN 100,000) may also be applied by natural persons, regardless of whether the rental will be carried out as part of private or business activity. In the legal situation existing until the end of December 2020, taxpayers wishing to rent apartments within the framework of the so-called "private rental" were able to choose the form of the lump-sum taxation, as long as the rental was not part of their business activity.

The lessor is not obliged to report the choice of the form of taxation in question. The decision on the choice of the taxation method (flat-rate tax, general principles of PIT taxation or lump sum) should be made before the deadline for payment of the PIT advance on rental revenues/income.

The process of submitting applications for the financing for Micro-companies and SMEs under Shield 2.0 of the Polish Development Fund has started.

Basic requirements for obtaining subsidies by Micro-companies are presented in the material below, the file contains information in Polish and English.

The process of submitting applications for the financing for Micro-companies and SMEs under Shield 2.0 of the Polish Development Fund has started.

Basic requirements for obtaining subsidies by Micro-companies are presented in the material below, the file contains information in Polish and English.

On 12 January this year, a draft Family Foundation Act was entered into the list of legislative and program works of the Council of Ministers. Official assumptions specifying how this new legal person is supposed to function were published along with the entry made. The information concerns, inter alia:

• foundation establishing process
• shaping of its structure
• way of managing the foundation
• requirements regarding the operational fund and the circle of beneficiaries.

According to the announcements, this draft is to be adopted by the Council of Ministers in the second quarter of 2021 and should enter into force at the beginning of 2022.

Regulations of the Act should soon be directed to public consultations, which will certainly be looked at by the GWW individual client advisory team us. If you have any questions, please contact the practice supervisor: Aldona Leszczyńska-Mikulska: Aldona.Leszczynska-Mikulska@gww.pl

It is planned to introduce a new structure into the Polish legal system by mid-2021 – a robotization allowance, which will apply to PIT and CIT payers. Taxpayers will be able to take advantage of a preferential tax rate if they conduct industrial (production) activities.

Who will be able to benefit from the robotization tax relief and what tax advantages will it bring to companies?

The article by Mariusz Tkaczyk, supervisor of the income tax practice, and Olga Sulewska.
https://www.prawo.pl/podatki/ulgi-na-nowe-technologie-i-robotyzacje-opinia-gww,505823.html