Sejm approves business-friendly tax changes
2010-02-21
The Sejm on 19 February passed a series of changes to tax laws intended to make life easier to businesses and individuals.
Thus, newly self-employed persons will be able to switch to the flat 19% income tax rate more easily and quickly even if they perform services for their previous employer. Furthermore, the Sejm lifted to PLN 200 (€50) from PLN 100 (€25) the tax-deductibility threshold for “bonus” gifts and gadgets awarded to customers. At the same time, the value of the output VAT resulting from these so-called bonus sales will be straightforwardly tax-deductible for the company, a matter that used to be the subject of some controversy.
Also, companies engaged in research and development will be able to deduct from tax the value of contributions to their so-called innovation funds (representing 20% of company revenues) not only in the fiscal year in which they were made, but also in the following one.
Finally, individuals who rent out their homes will gain more freedom in choosing the most favourable income-tax arrangements.
The changes now go before the Senate.
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