The state of epidemic threat caused by the COVID-19 pandemic is due to be declared at an end as of 1 July, 2023, and this is important because time limits that to date have been suspended for reporting non-cross-border tax arrangements will once again apply.
Once the state of epidemic threat is declared at an end, this will mean, for instance, that time limits for reporting non-cross-border tax arrangements will once again apply, having been suspended for more than three years. Firms that might be subject to this reporting obligation need to review promptly their transactions and arrangements effected and reached in this regard during the period in which these time limits were suspended. This needs to be done to determine their obligations regarding reporting non-cross-border tax arrangements.
The following are examples of events that need to be reviewed in case they will have to be reported as of 1 July 2023:
- dividend distribution;
- payment of royalties to foreign entities;
- restructuring;
- increases in share capital in relation to the share premium (agio) effected between entities with their seats in Poland.
Should you require any specific information on this, please contact us. We would be pleased to assist you with compliance with these reporting obligations, which may turn out to be an extremely strenuous task due to the short time frame involved.
