Work on CIT amendment gains momentum
The Council of Ministers has adopted a draft of a major amendment to the CIT Act and other laws.
We wrote about the proposals contained in the draft shortly after it was made public by the Ministry of Finance. However, we would like to remind that it contains many regulations clarifying the existing ambiguities or eliminating solutions that could have a negative impact on taxpayers’ activity.
Among the proposals contained in the draft are the following: modification and postponement of the entry into force of the provisions on minimum income tax (suspension for 2022-2023); repeal of the provisions on the so-called hidden dividend; amendment of the provisions on the documentation obligation with regard to the so-called indirect paradise transactions; modification of regulations on the Polish holding company (PSH); making the construction of the pay & refund exemption statement more flexible; modification of regulations on the taxation of flipped income; relaxation of regulations on accounting for debt financing costs in tax costs; improvement of regulations on the Estonian CIT.