Taxpayers whose revenues exceeded yearly EUR 50m (and tax capital groups) have additional obligation to publish information on the execution of tax strategy. Despite the fact that this new regulation enters into force on January 1st, 2021 respective taxpayers are required to prepare and publish information for 2020 not later than by December 31st, 2021.
Information to be covered:
- approach to processes and procedures on managing obligations arising from tax regulations and ensuring their proper execution;
- information on reports on tax schemes (MDR) filed in a given tax year;
- main transactions with related entities;
- tax settlements with so-called tax heavens;
- restructuring activities (planned or introduced);
- tax rulings, binding rate information (WIS) and binding excise information (WIA);
- voluntary forms of cooperation with the National Fiscal Administration authorities.
Fines:
Obviously there is no definition or an example of such strategy. But there are sanctions for non-compliance – up to PLN 250,000.
Next steps:
Preparation of a tax strategy preceded by in-depth analysis of internal procedures and policies (if present).
Looking for help or guidelines?
Do not hesitate – we are here to help you in fulfilling tax obligations (in particular one described above).
As your Polish tax advisor we are able to help you effectively utilize the above-mentioned information in your business, and also provide comprehensive support for your company.