The new tax proposals for 2021 are, in fact, an opportunity to postpone taxation until the moment of distribution of funds from the company, i.e. the so-called “Estonian CIT” and to establish an investment fund in the company.
The “Estonian CIT” means taxation of the income of a capital company not at the moment it is earned – as it is the case today – but at the moment of distributing profits to shareholders. However, this will not apply to all taxpayers – several conditions must be met. In particular, the company cannot generate income exceeding 50 million PLN per year, must invest in new fixed assets or employ at least 3 people.
An investment fund, in turn, is a possibility to “set aside” funds for future investments with the possibility of recognizing the tax cost already at the moment of their transfer to such fund. The condition is to spend the resources accumulated in the fund on specific investment purposes.
More in the article by Rzeczpospolita with the commentary of an expert, Daria Górka, a tax advisor and a senior consultant at NGL Tax.
Article available in Polish.