There will be no tax on the financial shield
The Ministry of Finance has begun work on exempting funds transferred to entrepreneurs within the financial shield from PIT and CIT.
A project of an ordinance regulating these issues has already been published and is at the stage of consultations and opinions.
– It concerns support paid out by the Polish Development Fund. It is to apply to income (revenues) obtained from 1 June 2021 to 31 December 2022. The regulation is also to apply to subsequent years for entrepreneurs who, as a result of losses, will reduce tax in subsequent years – points out Adam Allen, tax adviser, partner at Thedy & Partners.
As the MF emphasises, the proposed regulation is to come into force before 20 July, i.e. before settling the advance income tax payment. Additionally, the abandonment of tax collection on funds from the shield will not influence the classification of costs financed by this subsidy.