Changes in PIT and CIT regulations

On 31 March 2020 the amendments to the Act of 2 March 2020 on special solutions related to preventing, preventing and combating COVID-19 came into force. Below we present the most important changes in the PIT (Personal Income Tax) and CIT (Corporation Income Tax) regulations.

Settlement of tax losses in PIT and CIT

The amendments to the Actintroduces a mechanism, previously unknown in the Polish legal system, allowing for the deduction of a loss incurred in 2020 from income obtained in 2019 in the area of CIT and PIT. However, the deduction will be possible only up to PLN 5 million of the loss and will apply, as a rule, only to those taxpayers who will obtain in 2020 revenues at least 50% lower than those obtained in 2019.

Extension of the deadline for filing the annual PIT and CIT returns

The deadline for filing the annual PIT (PIT-36 i PIT-36L) and CIT-8 returns and for paying the tax due was postponed to 31 May 2020. This means that submission of the return for 2019 after 30 April 2020 will not have negative consequences, assuming that the proper return is submitted by the end of May this year.

Postponement of PIT payment deadline

The amendments provide for the possibility of postponing the date of payment by payers of personal income tax on salaries paid in March and April 2020 until 1 June 2020.

Abandonment of the simplified form of advance payment

Mail entrepreneurs who decided to pay PIT and CIT advances in a simplified form will be able to resign from simplified advances for the period March-December 2020 and calculate monthly advances on current income on general terms.