Category Taxation in Poland

Tax Freedom Day Falls in Poland

June 7, 2018 Taxation in Poland

Tax Freedom day PolishWARSAW – Tax Freedom Day has come in Poland, and it has arrived three days earlier than last year.

June 6th was the date of Tax Freedom Day in Poland for the current year, according to the latest calculations completed by the think-tank the Adam Smith Centre.

Tax Freedom Day is a symbolic measure of the tax burden faced by taxpayers in any given country.

The date of the Tax Freedom Day is calculated by comparing the total tax burden in a country, and comparing that to the total tax take in the same area for the same timeframe.

Tax Freedom Day is intended to represent the point in time where taxpayers would have earned enough to pay off their tax obligation for the year.

In 2017 Tax Freedom Day in Poland was on June 9th, 3 days later than in 2018.

The movement in the Tax Freedom Day date...

Read More

Poland Drops Crypto Tax

May 21, 2018 Taxation in Poland

Tax on cryptocurrencyWARSAW – Poland’s treatment of cryptocurrency used to result in tax burdens greater than the value of the transactions made, but new tax rules are set to change that.

The Ministry of Finance of Poland has issued a new statement confirming that it will not be taxing incomes derived from transactions on cryptocurrencies.

Prior to the announcement, Poland was considered by some to be one of the worst countries in which to transact with cryptocurrencies due to the highly punitive tax measures enacted by the government.

Cryptocurrency transactions or trades previously led to a tax of 18 percent to 32 percent, regardless of it made a net profit or not.

Further, all cryptocurrency transactions were additionally required to pay a tax of 1 percent, as they were considered to be a transfer of pr...

Read More

Poland Eyes Detection System for Tax Cheating

March 23, 2017 Taxation in Poland

Tax collections in PolandWARSAW – Poland hopes to catch out tax cheats by automatically monitoring bank transactions for high risk deals.

The Finance Ministry of Poland has announced that it will soon establish an electronic verification system using bank data to catch out VAT fraud.

The new system is meant to catch out tax cheats who issue fake invoices in order to claim unwarranted tax VAT rebates.

The system will work by conducting risk analysis of transaction going through the national finance sector.

If initiated, the new system could be functional as early as June this year.

In the first year of operations, the tax system could help recover 10 percent to 15 percent of the fake tax claims.

Based on the estimated recovery rate, the government of Poland could see tax revenues rise by as much as PLN 600 mil...

Read More

Poland’s Retail Tax is Discriminatory

July 13, 2016 Taxation in Poland

WARSAW – The upcoming retail tax in Poland unfairly burdens foreign companies, which will result in local business paying only 5 percent of the tax.

In a press release issued on July 7th the Director-General of EuroCommerce Christian Verschueren claimed that retailers in Europe are “taken aback by discriminatory Polish retail taxes” which are claimed to impose disproportionately heavy burdens on foreign retailers working in the country.

Under the scope of the new tax any physical retailer operating in Poland which have a monthly turnover of between PLN 17 million and PLN 170 million will be subject to a tax of 0.8 percent, while retailers with higher turnovers will see a tax of 1.4 percent.

Poland currently has a disproportionately high number of foreign retailers operating in the cou...

Read More

Large Retailers Face Extra Tax in Poland

January 26, 2016 Taxation in Poland

WARSAW – Large retailers in poland will soon be facing an extra tax on their profits, with hiked rate for weekend trading and holiday specials.

On January 25th the Finance Ministry of Poland announced that a new progressive tax will soon be enacted on large retail stores operating in the country.

The new tax will be levied at a rate of 0.7 percent on retailers with monthly sales of between PLN 1.5 million and PLN 300 million, and at a raised rate of 1.3 percent on businesses with sales exceeding PLN 300 million.

A further raised tax of 1.9 percent on profits made by large stores on weekends and during holiday sales.

The Ministry also indicated that the new tax shall not lead to any increase in retail prices faced by consumers, leading some experts to believe that the cost of the tax is i...

Read More