Amended tax regulations regarding depreciation rules
One-time depreciation - amended tax regulations
The Act of 7 July 2017 amending the Personal Income Tax Act and the Corporate Income Tax Act introduces the possibility of one-off depreciation on acquired, brand new machinery and equipment included in groups 3-6 and 8 of the Classification of Fixed Assets. Therefore, the investment relief does not cover the purchase of real estate and means of transport. The initial value of the fixed asset should be at least PLN 10. The PLN 10 threshold may be met by purchasing at least two fixed assets, with the initial value of each individual investment exceeding PLN 3.500.
MoreReverse charge - construction services
The reverse charge mechanism consists in transferring the VAT settlement obligation from the supplier to the buyer. A reverse charge transaction exempts a taxable person supplying goods or service from the obligation to pay VAT. As a consequence, the seller issues a sales invoice without VAT, with the annotation "reverse charge" and prepares a VAT-27 declaration. On the other hand, the entity obliged to charge VAT is the buyer, who at the same time retains the right to deduct input VAT on the purchase.
MoreLowering the limit of cash transactions
From January 01, 2017, the limit of cash transactions between enterprises referred to in art. 22 paragraph 1 of the Freedom of Business Activity Act to PLN 15.000,00.
The new rules apply for transactions concluded from January 01, 2017.
MoreUniform control file - JPK
What is a uniform control file?
The single control file (JPK) is a set of data on economic operations for a given period, generated from the IT systems of the economic entity through direct export in a standardized structure and format to tax authorities and fiscal control authorities.
MoreRevenue and cost adjustment - change of regulations
Correcting invoices recognized in the month of issue
From January 1, 2016, corrective invoices issued as a result of receiving the return of goods, granting discounts or increasing the price resulting from the terms of the contract are to be recognized as a revenue adjustment in the settlement period in which the corrective invoice was issued, by reducing or increasing revenues
MoreAccountant - profession of public trust. How to choose an accounting office?
Companies outdo each other in gaining customers, tempting with cheap prices.
Accounting services, due to their nature, are important on a micro and macroeconomic scale. With the help of accounting, analyzes are made on the basis of which you can rationally manage and control the company and make decisions related to the development of each enterprise. Decisions made at the level of a single entity affect the economy of the country in which they operate on a macro scale.
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