On 14 February 2022, Polish Ministry of Finance has published the interest rates for tax arrears / late payment. Accordingly, the rate of late payment interest is 8.5% per annum (previously it was 8.0%), the reduced rate of interest for late payment of tax arrears is 4.25% per annum (previously it was 4.0%) and the increased rate of interest for late payment of tax arrears is 12.75% per annum (previously it was 12.0%).
The reduced tax rate applies when a self-correction is made prior to a procedural notice for an amended tax return and payment is made within 7 days of filing the corrected tax return. The increased rate applies to VAT and customs duties even if a taxpayer understates their tax liability, overstates and overpayment or refund claim or fails to file a tax return and pay taxes and this has been established during a tax inspection procedure.
