President of Poland signed into law a bill amending the Act on PIT, the Act on CIT and certain other acts concerning transaction prices between related entities.
The amending act is a result of the government’s legislative initiative aimed, among other things, at preventing the transfer by multi-national corporations of their profits out of Poland.
This act introduces a number of vital amendments for taxpayers in the area of preparing tax documentation, gives particular weight to justifying the arm’s length nature of transfer prices between related entities and provides for new information duties.
This article presents the most important changes resulting from the amending act and their consequences for taxpayers.
These changes will be presented using the example of amended provisions of the Act on Corporate Income Tax.
Similar amendments were introduced in the Act on Personal Income Tax.