close
Share with your friends

Poland: Tax relief measures in pending legislation (COVID-19)

Poland: Tax relief measures in pending legislation

A bill that would provide tax and economic relief to entities and taxpayers affected by the coronavirus (COVID-19) pandemic is pending before the parliament.

1000

Related content

The bill—referred to in English as the “Anti-Crisis Shield 4.0—would:

  • Allow taxpayers to apply bad-debt relief measures sooner (30 days from the date of payment specified on the invoice or in the contract, instead of the normal 90-day period for settlement of payment)
  • Aim at protecting “strategic” Polish companies from hostile takeovers by entities from outside the EU or EEA
  • Extend the deadlines for reporting certain domestic tax arrangements to the 30th day after the date when the state of emergency is ended (for cross-border arrangements, the deadline suspension would be no longer than 30 June 2020)
  • Exempt from income tax certain donations made to centers or organizations providing charitable services for individuals
  • Allow contractual penalties and damages related to defective goods to be deductible
  • Extend the deadline for paying the annual usufruct fee for 2020 to 31 January 2021

The bill also includes certain non-tax measures such as a subsidy to support salary and wage payments to workers and employees (up to 40% of average monthly salary) and subsidy as relief regarding the interest payable on certain bank loans (generally entered into before 31 December 2020) when concluded by business entities whose financial liquidity has deteriorated because of the economic consequences of the COVID-19 pandemic.


Read a May 2020 report prepared by the KPMG member firm in Poland 

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal