More time to prepare financial statements and account for CIT

by Monika Bartosiewicz

10 February 2022 

A draft regulation extending deadlines for preparing financial statements, including consolidated financial statements for 2021 has been published. Additionally, the Ministry of Finance plans to extend deadlines for filing CIT returns for 2021.

Financial statements – who and when

Extended deadlines for, among others, preparing, approving and submitting financial statements will apply to:

• private sector entities (excluding financial market entities supervised by the Financial Supervision Authority (KNF in Polish)) and non-governmental organisations – by 3 months;
• public finance sector entities – by 1 month;
• personal income tax payers keeping books of account (with respect to submitting financial statements to the Head of the National Revenue Administration (KAS in Polish) – by 3 months.

CIT return – who and when

Extended deadline for filing CIT returns will apply to all taxpayers. The deadline will be extended by 3 months for:

• filing a tax return on the amount of income earned (loss incurred) in the tax year;
• paying the due tax disclosed in the tax return or the difference between the tax due on the income disclosed in the tax return and the sum of tax advances paid from the beginning of the year.

Do you want to mitigate tax risk in your business? You are welcome to contact Rödl & Partner tax advisers.