Today is the last day to choose the form of taxation
Entrepreneurs who earned income from business activity in January 2022 have time only today - 21 February - to decide on the form of PIT taxation. The options are: PIT scale, flat tax or lump-sum tax on registered income.
– Each entrepreneur should individually analyse which form of taxation will be best in his case. For example, by choosing a flat rate, the taxpayer will not recognise the expenses incurred as costs, but keeping records will be simpler. The choice of a particular taxation method affects, among other things, the type of records kept, the manner of calculating advance payments for PIT and their amount. The way in which health contributions are paid is also important. This one, due to the fact that at the beginning of the year the provisions of the Polish Deal also come into force, depends on the method of settling accounts with the treasury – notes Łukasz Łebski, tax adviser, manager at Thedy & Partners.
It is worth mentioning that the deadline for choosing the method of taxation is 21 February, as the statutory deadline (20 February) was a holiday.