The Ministry of Finance announced its input to the anti-crisis legislation package being currently prepared by the Polish government. While the package includes postponing some of the obligations for the taxpayers, many of the proposed reliefs will be applicable only to entities subject to economic difficulties.
The key proposed changes to the legislation includes:
PIT
- Extension of the deadline for remitters to submit advance payments for payroll taxes collected in March and April
The deadline shall be prolonged to 1 June 2020.
CIT
- Extension, for selected taxpayers, of the deadline to pay minimum tax on commercial real estates for period from march to may 2020 to 20 July 2020
This option shall be applicable to taxpayers, whose income, in the given month compared to the appropriate month from the previous year decreased by at least 50%. The tax obligation shall be delayed also in respect to those taxpayers who did not disclose income in the previous year (e.g. were not conducting business activity) but suffer economic consequences of coronavirus.
- No extension of CIT-8 form (except of non-profit organizations)
Ministry informed that the deadline for filing CIT-8 forms will be delayed only for non-profit organizations.
PIT and CIT
- Possibility of retroactive settlement of tax losses in PIT and CIT
This option shall be applicable to taxpayers, whose income, in 2020 will decrease by at least 50% compared to 2019. PLN 5 m limit will be applicable. Loss settlement will require correcting CIT-8 form for 2019.
- Bad debts relief – canceling obligation to exclude from tax deductible costs expenses which are not timely paid
Selected taxpayers shall no longer be obliged to exclude from tax deductible costs expenses which are not timely paid.
This relief shall be applicable to taxpayers, whose income, in the given period (e.g. month) compared to the appropriate period from the previous year decreased by at least 50%. This exemption will also be available to those who did not generate revenues in the previous year, but in 2020 suffered negative economic consequences in connection with the coronavirus epidemic.
- Introduction of the possibility to resign from filing simplified advances in 2020 and calculate monthly advances based on a current income.
Small taxpayers will gain the right to resign from simplified tax advantages for the period march-December 2020.
VAT
- Extension of deadline for implementation of new VAT standard audit file for taxes (JPK_VDEK / SAF_T VDEK) to 1 July 2020
The deadline for implementation of SAF_T VDEK shall be delayed. Originally this new schema of standard audit file for taxes was meant to be applicable to large enterprises starting of 1 April 2020
Other
- Municipalities may introduce real estate tax exemptions for entrepreneurs
- There will be possibility to suspend on-going tax proceedings, including tax audits.
- The deadline for filing notification to CRBR shall be delayed to 1 July 2020.
- The tax payment date extension fee shall not be charged during epidemic state.
- There will be options to suspend administrative enforcement proceedings for cash receivables.
The Ministry remained that:
- Taxpayers may apply for tax debt write-off or delay of payment deadline
- BGK may provide guarantees in the form of de-minimis support to entrepreneurs.
Anti-crisis PwC support
The presented tax solutions are aimed at supporting the business in time of market instability. For most companies currently the main goal is to secure their sources of revenues. PwC experts are ready to support you and share its experience in this area.
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