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KSeF not until 2026 – summary of the Ministry of Finance audit
The Polish Ministry of Finance has revealed the results of the KSeF audit and announced a new effective date for mandatory e-invoicing.
During the press conference held on April 26, 2024, the Minister of Finance, Andrzej Domański, together with the current head of National Tax Administration – Marcin ?oboda, announced two dates for the entry into force of KSeF and informed that the 350-page report summarizing the KSeF audit shows that the implementation of the system in its original form could have led to the paralysis of the Polish economy. How much loss has the state budget suffered? And what will be the future fate of the project?
The Ministry of Finance published a draft act implementing global minimum tax
The Polish Ministry of Finance published a long-awaited draft act on top-up tax of constituent entities that are members of multi-national and domestic groups.
The draft Act is intended to implement the provisions of Council Directive on global minimum tax, which Poland should have implemented by the end of 2023 as part of Pillar 2 of the global tax reform agreed within the OECD. Importantly, the legislator wants the regulations to come into force as early as 1 January 2025, which means that there is little time to prepare for them.
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Public Reporting of Income Tax Information
In accordance with the new draft amendment to the Accounting Act and certain other acts, large multinational undertakings will be obliged to disclose a report on income tax paid in countries where they carry out their activities. These regulations are a result of the implementation of European Union law, i.e. Directive (EU) 2021/2101 of the European Parliament and of the Council of 24 November 2021.
The implementation of these EU regulations will supplement the existing CBC-R obligations. The aim of the Amendment in question is to eliminate aggressive tax planning by large multinational entreprises, which are already obliged to report to tax authorities information on income tax paid and other tax-related information on a country-by-country basis.
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