The end of the year is the ideal time to audit property tax settlements
November and December are the best months of the year to audit property tax settlements. Changing court rulings, including the latest Constitutional Tribunal rulings, as well as higher maximum property tax rates from year to year, mean that such a review can bring tangible benefits for businesses in the form of a reduction in the fiscal burden on their properties.
– A detailed review of past settlements makes it possible to identify areas where there has been a recent change in the approach to taxation. This can realistically translate into tax savings or obtaining a refund of overpaid tax. It is worth knowing that such an audit can change the amount of property tax paid by entrepreneurs. In practice, it is often the case that entrepreneurs have once declared an object for taxation and only duplicate the tribute paid to the tax office, taking into account the change of rates for a given year. This is undoubtedly a big and often costly mistake – assesses and suggests Paweł Wyporski, an expert on accounting for investments in real estate tax.
Not sure if your property tax settlements are correct? Or would you like to carry out an annual audit in your company? Feel free to contact Paweł Wyporski, an expert in property tax investment accounting at Thedy & Partners.