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  • Podatki z Galt Tax: Tomorrow (03.10.2017) come into force the regulations specifying new requirements for transfer pricing documentation

    , tax transfer pricing

    The regulations* coming into force on 3 October 2017 will include i.a. the detailed description of the elements of the local file, the master file and the benchmark analysis, that is the new documentation that some entrepreneurs have to already prepare for 2017. These regulations complement the transfer pricing regulations effective as of 1 January […]

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  • Podatki z Galt Tax: Tax relief for ‘bad debts’ will be easier to use

    , tax

    The Ministry of Development is working on a draft law which will introduce simplification for entrepreneurs in tax and economic law. The planned changes will, among others, make it easier for entrepreneurs to use the so-called ‘tax relief for bad debts’, which we wrote about last week. What will change? As regards the tax on […]

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  • Podatki z Galt Tax: Tax relief for ‘bad debts’ – what is it and how to deal with it?

    , tax

    When issuing a VAT invoice to a contractor, we must pay both VAT tax and income tax from this invoice. Cumulatively, both these taxes are more than one third of the gross amount. If debtor did not pay the invoice on time, we would not receive payment for our goods or services. Additionally we have […]

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  • Podatki z Galt: Expenditures related to external financing of residential development projects – TAX EFFECTS OF ACCOUNTING TREATMENT

    , accounting tax

    The method of recognizing the tax deductible costs of the expenditure related to the external financing of housing development projects depends on their accounting treatment. The inclusion of paid interest as “production / work in progress” results in the fact that the interest can only be recognized as the tax costs when the premises are […]

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  • Podatki z Galt Tax: The owners of the shopping malls and office buildings will pay a new tax.

    , tax

    A draft amendment to the CIT Act and PIT Act provides for the introduction of a tax on commercial real estate located in Poland. In practice, this will be a new tax paid i.a. by the owners of the shopping malls and office buildings, as well as of the large stores. The new tax is […]

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  • What is the benchmarking study? – use our transfer pricing calculator

    , transfer pricing

    The benchmarking study is a statistical analisis of statistical financial data, designed to determine the market price level achieved by third parties in respect of a given type of transaction. The benchmarking study significantly reduces the risk of dispute with the tax authorities as to the market price level agreed between related parties, which otherwise […]

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  • What is a transfer price? – use our digital calculator and check transfer pricing duties

    , transfer pricing

    A transfer price is the price at which company sells goods, intangible assets or provides services to related parties. Each transaction between related parties should be arm’s length, otherwise the tax authorities may increase the taxable income by increasing revenues or decreasing costs. The assessment process is illustrated in the graph below (example for rendering […]

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  • Serious sanctions due to lack of documentation

    , tax

    Since January 1, 2017 the transfer pricing documentation regulations will change and therefore the documentation duty may change for particular entities. On January 1, 2016 changes in tax law introduced by amendments in the PIT and CIT Acts came into in force. Significant changes in regulations include regulations on transfer pricing issues. Not all regulations […]

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  • The Country by Country Report (CbC)

    , tax

    Since January 1, 2017 the scope of information of the transfer pricing documentation will depend on the value of income or expenses made by the company in the previous fiscal year. On January 1, 2016 changes in tax law introduced by amendments in the PIT and CIT Acts came into in force. Significant changes in […]

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  • Master File Documentation

    , tax transfer pricing

    Since January 1, 2017 the scope of information of the transfer pricing documentation will depend on the value of income or expenses made by the company in the previous fiscal year. On January 1, 2016 changes in tax law introduced by amendments in the PIT and CIT Acts came into in force. Significant changes in […]

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