15th Edition of REal Knowledge Newsletter available now!

In this 15th REal Knowledge Newsletter we are presenting the latest news about changes in commercial real estate laws and tax regulations. This edition of the newsletter contains information about KSeF - National System of E-invoices as well as practical insights on the new draft explanations concerning WHT of 25 September 2023. We also present list of tax implications that should be considered in advance when planning a PRS investment.

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TAX

New draft explanations concerning WHT of 25 September 2023 - practical insights

When analysing the content of the draft explanations issued on 25 September 2023 (Explanations, Draft) on withholding tax (WHT), it is clear to see first and foremost their theoretical nature and lack of possibility of transmuting a significant part of topics raised there into specific cases within business reality. We can only hope that the final version of the Explanations, supplemented with the conclusions from the public consultations, will allow taxpayers to make business decisions with greater certainty regarding future tax burdens and to project returns on their investments in a predictable manner - as this is probably what market participants expect from this document in the first place.

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Tax pitfalls in PRS sector

We are watching closely the growing interest of investors in the Private Rented Sector (PRS). At the same time we would like to point to the fact that when planning a PRS investment, its tax implications should be considered in advance because tax burdens may significantly impact the profitability of such investments. We are presenting selected tax issues, which should be taken into account when planning an investment in the PRS sector. When drafting this list, we’ve focused primarily on matters which differentiate a PRS investment from other standard real estate investments.

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BUSINESS PROCESS SOLUTIONS

KSeF for the accountants and not only?

The forthcoming obligations concerning electronic invoices (KSeF - National System of E-invoices), which will be applicable in general to all B2B transactions starting on 1 July 2024, have also profound impact on operational cycles of an organization, reaching beyond a sales process, with particular consideration of a P2P process, which involves receiving and processing of purchase documents to record them in the accounting books and prepare for payment. The changes will affect many different operational areas of a company: from the procurement, sales, payments to accounting processes.

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