CFO and Tax Directors’ Forum
Warsaw 27 November, 9:30 a.m. – 2:30 p.m.
Agenda
09.30 a.m. - 10.00 a.m. – Registration, Breakfast
10.00 a.m. - 11.00 a.m.– CIT
11.00 a.m. - 12.00 noon – TP
12.00 noon - 1:00 p.m. – VAT
1:00 p.m. - 2.30 p.m. – lunch
Speakers
Mikołaj Michalski - Senior Manager, Deloitte Tax Advisory
Przemysław Skorupa - Senior Manager, Deloitte Tax Advisory
Dominika Ramirez-Wołkiewicz -Manager, Deloitte Tax Advisory
Participants
The meeting is targeted at:
• CFO
• Chief Accountants
• Tax Managers and Directors
Date
27 November 2013, 9:30 a.m. - 2:30p.m.
Address
Deloitte House
Al. Jana Pawła II 19, Warsaw
Payment information
This seminar is free of charge.
Contact
Karolina Sadomska
e-mail: ksadomska@deloitteCE.com
tel.: +48 (22) 511 08 04
Registration
At Deloitte’s website
The organizer reserves the right to cancel the meeting and select applications, in particular to reject those submitted by its competitors. The meeting will be held in the English language. All materials will be provided in Polish.
Details
CIT
On the 1st January 2014, the amended regulations of the CIT Act will enter into force. The main changes encompass taxation of limited joint-stock partnerships and sale of credit liabilities by banks to securitization funds. Additionally, the Ministry of Finance is planning to introduce further amendments to the CIT Act. The date of their implementation is yet unknown but it is very likely they will enter into force in 2015. The main planned further amendments are related to:
• Thin capitalization,
• Controlled foreign company,
• Dividends in kind,
• Certificates of residence,
• Transfer pricing documentation.
TP
The changes to the ordinance to the art. 11 of the Polish CIT Act (transfer pricing ordinance) came into force on July 18, 2013. These new regulations give the tax authorities responsible for transfer pricing audits the precise guidelines on how to perform the analyses of the transactions between related entities. Thus, it is expected that the introduced changes are going to have the an impact on the way of conducting of the transfer pricing audits by the Polish tax authorities. Despite the fact that the addressees of the new changes are the tax authorities, awareness of the new regulations and the understanding of these changes would allow the taxpayers to properly prepare to the transfer pricing audits that are going to happen after July 2013.
The main areas of the discussed changes are:
• changes in transfer pricing methods,
• comparability analysis,
• pricing of research and development services,
• low value added services,
• new regulations on business restructuring.
VAT
As of 1st January 2014 significant changes in VAT will be introduced. Changes will cover crucial elements of VAT
settlements that generally were not changed as of introduction of VAT in Poland, i.e. as of July 1993. VAT amendments trigger changes in accounting systems, as well as necessity to analyze all performed transactions with respect to introduced changes (both sale and purchase activities). Moreover, due to the fact that several currently binding provisions will be repealed, all individual rulings issued by the tax authorities based on currently binding
provisions will no longer be valid. The main areas of discussed changes are:
• New regulations concerning moment of recognition of tax point in VAT
• Deadlines for issuing invoices
• New regulations concerning taxable base (especially in domestic transactions)
• Different moment of deduction of input VAT
• Changes in settlement of input VAT in case of intra
community acquisitions of goods