COVID-19 update: additional measures related to CIT and TP reporting / “New Deal” details to be announced shortly
At the beginning of March, Minister of Finance presented a draft of a regulation which extends a statutory deadline for 2020 CIT payment and tax return submission till 30.06.2021 (instead of 31.03.2021 for most of the tax payers). The draft awaits for the final signature and its publication in the Official Gazette.
In parallel, Polish Lower Chamber of Parliament (Sejm) currently approved a deferral of statutory deadline for submitting transfer pricing information (TPR-C and TPR-P forms), preparation of a local file as well as the statement on preparation of local transfer pricing documentation for FY2020 until, in general, 31 December 2021. Deadline for preparation of the group file is planned to be prolonged until 31.03.2022. It is expected that the full approval process for the new bill will end in the last week of March.
In the view of post-pandemic recovery, governing party, Law & Justice presented a key pillars of a so-called “New Deal” – a 10 point program focused on improving economic and social recovery after COVID-19. Although details of the program are yet to be presented (likely beginning of April), Polish Minister of Finance already signalized that in terms of taxation, “New Deal” will strive to make taxation more fair. It raises question whether one can expect increase of a corporate taxation through e.g. additional sectoral charges or taxes (alike sugar, retail charge or recently discussed charge on advertisement revenues).