We know the tax limits for 2022
Thanks to the euro exchange rate on 1 October 2021, we can calculate the tax limits that will apply from 1 January 2022. They will all increase.
The euro exchange rate on 1 October 2021 announced by the National Bank of Poland was PLN 4.5941, up by PLN 0.0788 compared to 2020.
– A high euro exchange rate means one thing – an increase in tax limits – states Adam Allen, tax adviser, partner at Thedy & Partners.
Let us remind that the euro exchange rate is important in determining, among others, the limit for a small taxpayer or in settling lump sums.
– Thus, by making appropriate conversions, the limit for single depreciation set in the regulations at EUR 50 thousand, from 2022 will amount to PLN 230 thousand (currently PLN 226 thousand). A small VAT taxpayer will be deemed to be one whose annual turnover does not exceed PLN 5,513,000 (currently PLN 5,418,000). Here, the conversion must be made for EUR 1.2 million. In the case of a small taxpayer for PIT and CIT purposes, the conversion is to be made for the amount of PLN 2 million. Here, the limit will therefore be PLN 9,188,000 (currently PLN 9,031,000). For entities running a business and settling lump-sum tax on registered incomes, it is important that their revenues do not exceed EUR 2 million, if they want to continue this form of settlements with the tax office. This limit, after conversion at the latest exchange rate, is PLN 9,188,200. Exactly the same limit as for the lump sum will apply to keeping full accounts – calculates Adam Allen.