When to file transfer pricing documentation for 2021 | Tax Focus

28 June 2022 | Knowledge, News, Tax Focus

Under the CIT Act, taxpayers are normally required to file the TPR form and a statement on the preparation of the local file for 2021, by the end of the ninth month after the end of the financial year.

However, on 28 April 2022, the Sejm passed a bill amending certain acts to automate the handling of certain matters by the National Tax Administration.

The bill includes an amendment to the so-called COVID Act in respect of the extension of deadlines for the submission of statements on the preparation of transfer pricing documentation and the filing of TPR forms for 2022.

The Act on amending certain acts to automate the handling of certain matters by the National Tax Administration extends the above deadline:

  • until 30 September 2022 – for TPR forms and statements on the preparation of the local file, with a submission deadline between 1 January 2022 and 30 June 2022, and
  • by 3 months – for TPR forms and statements on the preparation of the local file, with a submission deadline between July 2022 and 31 December 2022.

In practice, for entities whose tax year ended on 31 December 2021, the deadline for filing the TPR form and transfer pricing statement will be 31 December 2022.

We provide assistance with both the preparation of transfer pricing documentation and transfer pricing reporting for 2021.

We would also like to remind you that for transactions effected after 1 January 2022, the Polish Deal Act introduced a new deadline for:

  • preparation of the local file – by the end of the 10th month after the end of the tax year; and
  • filing of the transfer pricing report together with a statement on the preparation of the local file – by the end of the 11th month after the end of the tax year.

 

Do you have any questions? Contact the authors

Agata Dziwisz

Katarzyna Pustułka

 


 

Read our previous Tax Focus on the Polish Deal 2.0

Latest Knowledge

Amendments to the General Tax Code

The Polish tax system could be in for a revolution. The Ministry of Finance has announced draft changes aimed at simplifying, streamlining and, in some areas, tightening the rules for dealing with the tax authorities.

Family foundations – what do you need to know?

At some point, almost every family business is faced with the decision of how to develop the business they have built with their own hands, while at the same time protecting the capital they have accumulated over the years. A family foundation could be the answer.

Landmark ruling in case involving use of data to train AI

The U.S. District Court in Delaware has delivered a significant ruling in a case involving artificial intelligence trained on copyrighted Thomson Reuters’ data. Judge Stephanos Bibas ruled that Ross Intelligence had gone too far. This judgement, while not final, is a milestone in the legal world regarding the protection of content in machine learning.

M&A trends in the AI industry

Over the past two years, we have seen a significant increase in the number of M&A deals involving companies based on artificial intelligence or using AI components.

ICLG – Employment & Labour Laws and Regulations, an overview of Polish employment law

The International Comparative Legal Guides (ICLG) is an acclaimed series of publications co-authored by the editors of the Global Legal Group (GLG) and an international panel of experts. It is a collection of key cross-border legal guides that are essential for law firms, companies, governments and individuals alike when doing business around the world.