Anti-coronavirus or a protective package for taxpayers
The current situation regarding the coronavirus is undoubtedly precedential. The virus has infected both people and the economy, including the application of tax laws. The Ministry of Development has published a message which announced a package of solutions aimed at mitigating the negative results of the SARS-CoV-2 virus on the economy. The Ministry of Development is working on draft legislation which will include a few matters concerning tax settlements, including:
- Payment relief, including measures to facilitate the payment of taxes and social security insurance contributions.
- Postponing the entry into force of the new JPK from 1st April 2020 until around 1st July 2020.
- Postponing the date for submitting information to the Central Register of Beneficial Owners. The new date is also 1 July 2020.
- Facilitating split payments.
- Hastening the return of any surplus VAT tax payments to a taxpayer’s account.
- Enabling expenses related to cancelled travel (in relation to sectors affected by the crisis) to be included as tax expenses.
- Removing the prolongation fee.
- Extending the public aid scheme so as to include SME and large companies.
- “Reverse” calculation of income loss (i.e. loss from 2020 on 2019) – losses incurred on business activities in a given year can also be deducted from income generated within the next five years.
Unfortunately, the precise content of some of these solutions remains uncertain (e.g. as regards facilitating split payments). However, the announcement states that the draft version should be available in the upcoming days. We are monitoring the situation and we will inform you further about any changes in that scope.