On 10 March 2020, the Minister of Development Jadwiga Emilewicz announced the introduction of a package of legislative changes aimed at protecting the Polish economy from the effects of the coronavirus epidemic.
The changes, which are mainly targeted at (i) introducing public-law liabilities reliefs, (ii) improving companies’ cash flow and (iii) protecting and supporting the labor market, are in particular:
- postponement of the date of entry into force - from 1 April to 1 July 2020 - of the new JPK_VAT for large companies (more about this obligation in this article),
- postponement – from 1 April to 1 July 2020 - of the obligation for companies to register in the Central Register of Beneficial Owners,
- earlier VAT returns and interest-free deferral of VAT, CIT and PIT payments,
- facilitating the suspension of business activity,
- possibility of compensation of losses incurred in 2020 with the income generated in 2019 - the loss incurred in a given year can be deducted from the income achieved in the next 5 years,
- guarantee support and loan subsidies,
- benefits from the Insolvency Remuneration Fund up to 100% of unemployment benefit (PLN 823.60) increased by the number of social security contributions - for employees in the event of downtime,
- sickness and care allowances for entrepreneurs in case of absence of business opportunities / personal care of a sick child or another family member / unexpected closure of the facility,
- as part of Social Insurance Institution assistance:
- postponement of contributions’ payment deadline (no default interest),
- installment arrangements (spreading installments, no default interest),
- redemption of liabilities (in the event that payment of contributions could deprive of the ability to continue business activity).
The Ministry will soon present a detailed bill containing the above-planned changes. At the same time, it declares full and constant cooperation with business representatives in the above matters.
Please find more information here.
Don't hesitate to contact us if you have questions:
Head of Tax
Tax Manager - Tax Adviser