News

Introduced an obligation to inform the tax authorities of the capital group to which the entity belongs The Law of April 4, 2017, on exchange of tax information with other states, which entered into force on March 9, 2017, introduced an obligation to inform the tax authorities of the capital group to which the entity belongs. Below we explain how the new Law deals with the CbCR (Country by Country Report). New regulations on the performance of customs inspections Following the creation of the National Tax Administration from 1 March 2017, new regulations on the performance of customs inspections have been introduced. We explain what do these regulations and how the inspections look like in the article below.   Law on Certified Auditors The new Law on Certified Auditors , Audit Firms and Public Supervision, which the Polish Parliament passed on May 11, 2017, includes many important changes with respect to audit firms and their clients. The payment of dividends The payment and taxation of dividends is precisely regulated by law. The process is similar, regardless of the type of company. The article below describes how the payout and taxation of dividends works in practice. The Advantages of Outsourced Accounting and Payroll Small, medium and large companies often use the services of professional accounting and payroll firms. In this articule you can find 5 reasons why you should spend money on outsourcing services. How to set up a limited liability company over the Internet? The times when setting up a limited liability company required a visit to several government offices and the manual filling in of a lot of paperwork, have passed. Already in 2012, it was possible to set up a limited liability company over the Internet.   Distribution of profits in companies Regardless of the type of company, the distribution of profit must be preceded by the approval of the financial statements by the approval body. In the case of entities that are obliged to audit their report by an auditor, additionally, the audit should also be performed before the distribution of profit.  Check the article and see the differences between all of them. Approval of the financial statements For most companies performing financial reporting, the deadline for approval of the financial statements is approaching. Below you will find information as to the required form for the approval of annual financial statements as well as the deadline for such approval and who performs the approval. Removal an active VAT taxpayer from the VAT register The Tax Law allows the head of the tax office to remove an active VAT taxpayer from the VAT register. In what situations is this possible? What are the procedures? How to avoid this? Find out now. Role of internal control in financial reporting Due to the increasing number and frequency of transactions in electronic form, appropriate planning of the whole process is crucial to ensure the proper functioning of the company and to ensure that the financial statements are prepared correctly. This applies not only to larger corporations in which the process is more formalized but also to smaller companies where the process is more informal.  Transfer pricing in 2017 A large number of new regulations entered into force at the beginning of 2017. By implementing legislation aimed at curbing tax fraud, the government has introduced many changes in reporting and accounting rules relating, among others, to transfer pricing. It is worth looking at them and identifying what documentation obligations await taxpayers registered in tax havens or carrying out transactions with related parties. The new sanctions against VAT fraud As of the beginning of 2017 the tax authorities have a new tool in the fight against VAT fraud and persons engaged in illegal activities relating to this tax. The new sanctions will make it possible to impose additional financial penalties on such persons.