There is already a draft of amendments to the CIT Act and other acts
The draft amendments to the CIT Act have just been published on the website of the Government Legislation Centre. It is 26 pages long and the Ministry of Finance indicates that the main purpose of the changes is to make the current regulations more precise and orderly. Currently, the draft is at the consultation stage, which will last until 12 July.
Apart from the changes in the CIT act, analogous changes will occur in the PIT and lump-sum tax regulations (within the scope of the same solutions). The draft also contains proposed modifications to the Tax Ordinance Act.
The changes include, among others
– modification and postponement of the entry into force of the minimum tax provisions,
– change in the deadline for updating individual taxpayer data (we wrote about it today),
– repeal of provisions on the so-called hidden dividend,
– amendment to the regulations on foreign controlled entities (CFC) regarding elimination of double taxation of CFCs, disposal of assets during the year and clarification of the definition of a subsidiary,
– amending the rules on taxation of distributed income,
– repeal of certain payers’ duties with regard to withholding tax on interest and discount on treasury securities and making the construction of the payer’s declaration excluding the obligation to apply the pay & refund mechanism more flexible,
– changes in settlement of costs of debt financing in tax costs,
– changes in provisions regarding the relief for employment of innovative employees of an adaptive nature, resulting from changes in the PIT Act,
– changes in provisions concerning the relief for making an initial public offering,
– simplification of provisions on the so-called relief for bad debts
– amendment to the regulations on the Polish holding company (PSH) to, inter alia, broaden the possibility of applying the PSH
– amendment to the provisions concerning lump-sum taxation on companies’ income,
– Amendment of the provision concerning the time limit for paying contributions on account of income from an employment relationship and equalised, in the part financed by the payer, contributions to the Labour Fund, Solidarity Fund and Guaranteed Employee Benefits Fund,
– amendment of the provisions concerning the procedure for refunding tax on revenue from buildings,
– amendment of the provisions concerning the documentation obligation with regard to the so-called paradise transactions,
– clarification of provisions, insofar as they oblige the Minister of Finance to make specimen declarations available,
– clarification of the obligation to provide information on agreements with non-residents to the head of the tax office appropriate for the taxpayer, in the event of the obligation to submit transfer pricing information,
– amendment to the provisions of the Healthcare Provisions Act by regulating the situation when an insured entrepreneur (flat-rate taxpayer) fails to submit information on monthly income from business activity to ZUS
– clarification of provisions on accounting for losses by companies forming tax capital groups (PGK).