On 20 July 2022, taxpayers will be obliged to pay the so-called minimum tax in relation to commercial properties.
According to the currently binding rules, the exemption from minimum tax on commercial properties is applicable until the end of the month in which the state of the epidemic due to COVID-19 will be revoked.
As of 16 May 2022, the state of epidemic will be formally revoked in Poland and will be replaced by an epidemic threat. As a result, taxpayers will again be obliged to calculate the minimum tax on commercial properties for each month and pay it by the 20th day of the following month.
The first month after the revocation of the state of epidemic will be June, so taxpayers will be obliged to pay the minimum tax on commercial properties by 20th July.
Minimum CIT on commercial properties applies to a fixed asset being a building which meets certain conditions, including putting it at least partially for use, e.g. under a lease agreement. It amounts to 0.035% of the tax base for each month. The tax base is the initial value of the fixed asset.
The minimum tax on commercial buildings may be deducted from advance payments for “regular” CIT. If the monthly advance payment for “regular” CIT is higher than the minimum tax on commercial properties, the taxpayer is not obliged to pay the minimum tax on commercial properties.
As the issue of the minimum tax on commercial properties becomes relevant again, taxpayers should pay more attention to determining the initial value of a fixed asset that is a building. This is because it has a key impact on the amount of this tax.
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