We provide assistance in the transfer pricing risk management, thus eliminating the tax risk relating to the transactions between related parties related parties.
Our service portfolio includes complex support in documentation compliance under national regulations on settlements between related parties (CIT Act, PIT Act and Regulation of the Ministry of Finance, etc.). Having regard to a significant number of changes introduced by the national legislation over the past few years, for reasons of clarity we present the summary of key conditions governing the taxpayers’ documentation obligations, depending on the documented period.
In order to ensure that your documents are highly compliant with the statutory requirements, the PKF Consult TP team of specialists offers comprehensive support in documentation compliance relating to the settlements between affiliated entities, including:
- the support in preparation of the Local File,
- the support in preparation of the Master File,
- the support in conduct of the benchmarking studies,
- the support in Country-by-Country Reporting (CbCR), and
- the support in filing of the CIT-TP form (TP-R as of 1 January 2019).
Detailed information about the tax regulations relating to individual statutory obligations is presented below:
PREPARATION OF THE LOCAL FILE
GUIDELINES FOR THE BENCHMARKING OBLIGATION
COUNTRY-BY-COUNTRY REPORTING (CBCR)
In accordance with the tax requirements, Country-by-Country Report (hereinafter: CbCR) is obligatory for entities of groups with at least two entities that are based or managed in different countries and with accounting revenues higher than EUR 750 million in the previous fiscal year. So far, CbCR issues were governed by the amended CIT Act (Journal of Laws of 2016 No. 0 item 1888). The Act on Exchange of Tax Information with Other Countries of 9 March 2017 (Journal of Laws of 2017 item 648) amended regulations on CbCR, while extending the scope of obligations incumbent upon taxpayers operating in international groups. On 11 April 2019 the Act on Amending the Act on Exchange of Tax Information with Other Countries and Certain Other Acts was signed by the President. The key changes in CbCR concern in particular:
- the definition of the threshold amount of PLN 3.25 billion,
- the change of the definition of a group of entities,
- the clarification of the threshold amount translation rules for groups that prepare financial statements in any other currency than EUR,
- the extension of the deadline for filing a notification, and
- the introduction of a possibility to correct CbCR and notifications that have been filed.
FILING OF THE CIT-TP FORM (TP-R as of 1 January 2019)
Until 2019, the entities obliged to prepare the TP documentation, whose revenues or costs as defined in the Act of Accounting were higher than EUR 10,000,000 in the fiscal year, were also obliged to file a summary CIT-TP report. It concerned transactions made after 31 December 2016. Besides, the obligation to file the form applied also to entities that made payments in favour of entities based in countries and territories applying harmful tax competition. Details of the report were subject to many amendments that have been introduced by the Ministry of Finance over the years. From the beginning of 2019, the summary CIT-TP report requirement was replaced with the TP information requirement, the co-called TP-R.
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