There are some revolutionary changes of the corporate and personal income tax law in Poland, which might influence Your business. The President of Poland signed a bill amending the income tax acts. Some regulations are valid as of the beginning of 2019.
The new regulations regard the following issues:
- new thresholds for TP requirement – PLN 10 M for tangible and financial transactions, PLN 2 M for other transactions. The change was aimed at reducing documentary obligations, however, it may involve a documentary obligation for taxpayers who currently do not have such obligation due to revenues or costs below EUR 2 million. According to the regulations being changed, the taxpayer who concludes the above-mentioned types of transactions with the indicated values, are required to prepare local transfer pricing documentation, even if the sum of its revenues or costs does not exceed EUR 2 million;
- no need to show