Year 2017 brings multiple changes in Polish tax regulations that entrepreneurs should be aware of, including:
LOWER INCOME TAX (CIT)
A new rate of 15% (instead of the previous 19%) was introduced for smaller companies. This rate is available for new businesses and companies that had income (including sales tax) not exceeding 1 200 000 euro (5 157 000 PLN in 2017) in the previous year. Capital groups are not allowed to use this rate.
PREFERENTIAL TREATMENT FOR RESEARCH & DEVELOPMENT INVESTMENTS
Starting from 1 January 2017, tax payers are allowed to use tax deduction over 6 tax years, not over 3 as it was before. There is also an increase of the amount and a wide range of eligible costs.
The main goal of these changes is to encourage businesses to cooperate with universities in order to introduce even more innovations to the Polish economy.
E-DECLARATIONS FOR SALES TAX (VAT)
In an effort to further develop digital communication between businesses and government, entrepreneurs are now obliged to present their sales tax (VAT) declarations in the form of electronic documents. Not following this rule can result in a fine up to 40 000 PLN.
SINGLE CONTROL FILE (JPK)
On top of the digital form of VAT tax declarations, companies are now obliged to send VAT single control file (JPK) monthly (even if their sales tax declarations are submitted quarterly). It’s very important for entrepreneurs (or their accounting offices) to make sure their systems are capable of generating such files in the proper format, otherwise they might face fines.