Poland: Reduced interest rate on voluntary payments, exchange rate for corrective VAT invoices (court decisions)
Two decisions concerning reduced interest rate on voluntary payments, and exchange rate for corrective VAT invoices
Two decisions issued by the Supreme Administrative Court
The Supreme Administrative Court (SAC) recently issued two decisions:
- In the first, the SAC held that the reduced default interest rate can be applied to interest on corporate income tax arrears paid voluntarily after the end of the year. The court decided that the reduced interest rate is only unavailable when taxpayers submit amended returns once they are served an audit notice or after an audit is finalized. The case identifying information is: II FSK 2589/19) (31 May 2022)
- In the second, the SAC held that amounts expressed in foreign currency in collective corrective value added tax (VAT) invoices issued or received by a taxpayer must be converted—for purposes of correcting both the revenue and the cost for corporate income tax purposes—at the average National Bank of Poland (NBP) exchange rate as of the last business day preceding the date of issuance of the collective corrective invoice. The case identifying information is: II FSK 2530/19) (25 May 2022)
Read a June 2022 report prepared by the KPMG member firm in Poland
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