Poland: Parliament approves a bill to amend various income tax rules

06 October, 2020

On 30 September 2020, the Polish lower house of Parliament (Sejm) approved a Bill No.642 amending various income tax rules for business. The measures of Bill No. 642 will apply from 1 January 2021. The bill includes a number of proposed tax measures as part of the 2021 budget. Key points summarized below:

Tighten anti-avoidance rules for income generated in various jurisdictions and tax-haven countries
Amend transfer pricing documentation regarding local file in respect of non-controlled transactions exceeding PLN 100,000 per year with residents of jurisdiction with harmful tax regimes
Change of the qualified threshold from 1.2 million EUR to 2 million EUR and the simplified flat tax from 250,000 EUR to 2 million EUR by an additional preferential rate of 9 percent for small taxpayers

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