Deregulation in Tax – Latest Proposed Changes
In recent weeks, several deregulatory proposals have been published that could have a significant impact on the operations of companies and institutions. At Thedy & Partners, we keep our finger on the pulse. Below is a summary of key proposals.
Proposed Amendments to the PIT and CIT Acts
• Elimination of the annual obligation to submit information on partners of a general partnership (if the composition remains unchanged)
• Elimination of the obligation for the largest taxpayers to publish a tax strategy
• Removal of the penalty of losing CIT taxpayer status for a tax capital group (PGK) in the case of non-arm’s length transactions with related entities outside the group
Changes to the Tax Ordinance
• No late payment interest charged after six months of an ongoing tax or customs-tax audit
• Mandatory resolution of irreducible doubts regarding the facts in favor of the taxpayer
Proposed Amendments to the KAS and VAT Acts
• Possibility to submit a partial correction reflecting only certain findings of a customs-tax audit
• Clear possibility to submit an initial tax return within 14 days after the initiation or conclusion of a customs-tax audit
These changes could help reduce administrative burdens but require careful consideration and proper interpretation.
If you would like to discuss what this could mean for your business, please feel free to contact our expert:
Monika Ruzik – monika.ruzik@thedy.pl