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Friday, September 24, 2021

Polish Order – changes in taxes, car leasing for a company. Jan Sarnowski, deputy finance minister, announces changes

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The Ministry of Finance wants to limit the practice of removing post-leasing cars from the company. – A company car after leasing should be bought by the company that paid for it, and only then transferred from the company to private property – said Deputy Finance Minister Jan Sarnowski.

The Ministry of Finance sent for consultations and arrangements on Monday Bill amending the act on personal income tax, the act on corporate income tax and some other acts. These are solutions provided for by the Polish Deal.

As announced in the announcement, one of the proposed solutions concerns the limitation of “the practice of removing post-leasing cars from the company”. “It’s about leasing a car for a company, and after paying the leasing installments, buying it into private property. This operation is on the verge of the law, in other EU countries it is only possible to buy the car by the company” – explained in the release.

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Car leasing

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During the Monday press conference, Deputy Minister of Finance Jan Sarnowski indicated that “at present, the company often leases the car, pays the installments from the company’s funds, and after paying the leasing installments, the owner buys the vehicle for private property”.

– This car, in fact bought by the company, is not included in the company’s assets. It is worth asking yourself whether it is necessary to allow private property to receive what was bought with the company’s money. This operation is on the border of the law and it is completely impossible in other European Union countries, stressed the deputy head of the Ministry of Finance.

That is why – as he explained – the ministry proposes “including the revenues from the sale of a post-leasing car bought back to personal property as revenues from business activity”. Sarnowski explained that the change mainly affects those entrepreneurs who often, e.g. every year, replace their cars with newer and newer ones. – Of course, there is nothing wrong with that, it is very good, but it cannot mean tax privileges – stressed the deputy minister.

– A company car after lease should be bought by the company that paid for it, and only then transferred from the company to private property – said Jan Sarnowski.

Main photo source: Shutterstock



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