Przemysław Piela’s Post

🐦⬛  Tax-related issues are one of the most important aspects of running a business. And what does the situation look like in Poland in this respect? Who can count on relief and who has to pay higher taxes? Let's explain the key terms: ➡️Value of Tax Exemption. Tax exemptions, ranging from 10% to 70% of eligible costs, are based on regional aid intensity and enterprise size. ➡️Decision on Investment Support. Tax exemptions are granted through administrative decisions specifying the investment location, eligible activities, and validity periods of 10 to 15 years. ➡️ R&D Tax Relief. R&D tax relief allows businesses to recover 19% of R&D expenses, including salaries and materials, through additional tax deductions. ➡️ IP Box. The IP Box tax credit provides a 5% tax rate on income from qualified intellectual property rights to encourage innovation. The Polish Investment Zone offers a unique opportunity by providing income tax exemptions for new investments, regardless of location. However, it is essential to carefully calculate the benefits of utilising these opportunities. Special Economic Zones are an excellent choice for companies with budgets exceeding several million zlotys and those undertaking greenfield and brownfield investments. The advantages are relatively less beneficial for smaller organisations. If you have any questions, I am here to answer them personally or in the comments. #businessdevelopment #strategi #ledelse #sales

Germany’s Bundesrat has given the green light to the Act to Strengthen Growth Opportunities, Investment and Innovation as well as Tax Simplification and Fairness (“Growth Opportunities Act”) passed by the German Federal Parliament on February 23. The act bundles a number of balance sheet tax measures in to order to improve company liquidity, provide tax incentives for innovation, and steps to reduce red tape for SMEs. The measures foreseen in the revised EUR 3.2 billion tax relief package approved by the upper house will improve the framework conditions for investment and innovation in #Germany.

The Dutch government is implementing changes to its tax classification rules for foreign entities effective from 2025. The government plans to compare foreign entities with Dutch counterparts for tax purposes, with specific rules for entities that are similar to Dutch mutual funds. A draft decree with detailed rules is available for consultation until 18 March 2024. The transition may impact Dutch real estate investments by foreign entities, and experts from Taxand Netherlands suggest that existing structures should be reviewed to assess potential tax implications under the new regime. Click the link commented below to read more💡

Our tax team have prepared the 2024 update to our essential guide that covers some of the key tax considerations for foreign business or investment in Australia. Australia has a complex tax landscape with taxes applicable at both a Federal level and at the State and Territory level. To find out more about the possible tax implications of doing business or investing in Australia, view our detailed guide. This guide was prepared by partner Clint Harding and senior associate George Bassil CA. https://lnkd.in/gVWZewAi

The European Union is adopting a raft of new initiatives to reduce tax compliance costs and make rules easier for large, cross-border businesses.   https://lnkd.in/dUz_uaeK

🇩🇪 The lower house of the German Parliament (Bundestag) passed the “Act to strengthen growth opportunities, investment and innovation as well as tax simplification and tax fairness” which contains the following VAT related changes: - Mandatory use of electronic invoicing (e-invoicing) - VAT on supplies of gas and heat - Simplification of certain tax procedures

#InternationalTax #WorldTaxNews [New Column] Taxmann’s World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week. Topics Covered: • Malaysia Presents Budget for 2024; extends tax relief for providing EV charging facility • USA provided tax relief to taxpayers in Israel • Microsoft has asked to pay additional tax of $ 28.9 Billion to US Read the Full Column: https://lnkd.in/dNviG-UC [5 Mins | Read Time] Drafted by Taxmann's Editorial Team #TaxmannUpdates #Budget #TaxPayers #CapitalGain #Microsoft #IRS

Depicting the structure of Brazilian tax system for Austrian investors in Brazil - what is important? How to analyze price formation? Which are the strategies to “survive” and do business in the country? The tax reform - main aspects and what to expect. I know… I know… Brazilian tax system is crazy and so the professionals dealing with it 🙋♂️ However… despite the indisputable complexity and inefficiencies - which we hopefully expect to reduce with the upcoming reforms - fact is that with a well analyzed and structured plan, companies are able to navigate through it avoiding a good portion of the “excesses”. #brazildoable #taxreform #doingbusiness

Understanding the Swiss 2024 Minimum Corporate Tax 🔍 What’s Happening? Swiss voters recently approved a significant change to the country’s corporate tax system. This change paves the way for the implementation of the Global Minimum Tax (also known as “Pillar II”) in Switzerland. 🌐 Who Does It Affect? Large multinational enterprises (MNEs) with consolidated revenues exceeding EUR 750 million annually and cross-border operations. 💡 What’s the Minimum Tax Rate? These MNEs will now face a mandatory tax rate of 15% on their profits. This move aligns with international efforts to ensure fair taxation across borders. 📊 How Will It Work? The GloBE Rules (short for “Global Anti-Base Erosion”) will enforce this minimum tax. These rules harmonize the determination of a tax base (“GloBE Income”) and define covered taxes (“Adjusted Covered Taxes”). Three mechanisms ensure compliance with the 15% minimum floor: a domestic top-up tax regime, income inclusion rules, and undertaxed profit rules. 🗓️ Implementation Timeline: The Swiss Federal Council enacted and implemented this reform through an ordinance, effective from January 1, 2024. 🏢 Why Is This Important? Switzerland aims to prevent the erosion of its tax base. The Swiss corporate tax landscape is evolving, and companies need to adapt. #SIGTAX #TaxReform #SwissBusiness #CorporateTaxation #GlobalMinimumTax 🚀

📣 Last Thursday the Luxembourg Minister of Finance presented to the Parliament the bill of law n. 8388, which aims at introducing / modifying certain direct tax provisions. Among others, it is proposed to: - eliminate the specific minimum net wealth tax (NWT) that currently applies to financing and holding companies and materially simplify the general minimum NWT brackets applicable to all NWT taxpayers; - codify and clarify certain tax aspects connected to the redemption of a participation and / or an entire class of shares by Luxembourg companies; - introduce a new tax credit for individual taxpayers (crédit d’impôt barème); - make the exemption of certain income from qualifying participations optional; and - introduce the compulsory electronic submission of certain withholding tax returns, such as those relating to the directors’ fees specifically remunerating the participation to the board (tantièmes). Overall, the items addressed are relevant and the proposed provisions welcome. We will closely monitor the legislative developments and publish any interesting updates here.