New tax on real estate property from 2018 – read further for main assumptions.
Main assumptions in short:
- covers range of shopping centers/malls/boutiques and office buildings (Classification of Fixed Assets prevails)
- tax allowance up to threshold of PLN 10 mln of initial value, excess to be taxed with 0.035% monthly
- payable by 20th of the following month
- seems that applicable also in case tax depreciation reduced to 0%
- deducted from CIT advances
- refers also to qualifying assets held in co-ownership
- applies even to tax exempt funds
Please find enclosed a two slides summarizing this new concept.
Actions to be performed still this year in order to get prepared to new taxation:
- analysis of fixed asset registers, in particular determination whether qualifying to taxation assets are separated from another ones
- analysis whether simplified CIT advances would be beneficial in certain cases (for simplification reasons)
In case of any further questions to this part of the tax amendments, we would be happy to assist you.
