Late payment interest

On September 15, 2023, Poland released an Announcement from the Ministry of Finance regarding the interest rates for tax arrears and late payments. This announcement includes the following reductions in interest rates:

Source information: https://www.dziennikustaw.gov.pl/MP/2023/1017

Late payment interest rates

The standard rate has been lowered from 16.5% to 15.0% per annum.

The reduced rate has been decreased from 8.25% to 7.50% per annum.

The increased rate has been brought down from 24.75% to 22.50% per annum.

Reduced rate

The reduced rate is applicable when a taxpayer initiates self-correction prior to receiving a notice of procedures for an amended assessment, and the payment is made within 7 days of filing the corrected return. Conversely, the increased rate is enforced for VAT and customs duties, including situations where a taxpayer understates their tax liability, overstates an overpayment or refund claim, or neglects to file a return and pay tax, and this is discovered during tax control proceedings.

For further information about late payment interest or any other tax matters, please contact Bernard.

Tax Lawyer Poland

If you are looking for a tax lawyer in Warsaw, our law firm can help you. The tax landscape in Poland is forever evolving, particularly when dealing with cross-border and local tax regulations and this presents businesses and individuals with a significant challenge. Recently, there has been a noticeable increase in the number and complexity of tax investigations conducted by authorities and it is expected that enforcement will continue to gather pace.

The requirement for tax adjustments and a multi-disciplinary approach to maximise tax effectiveness is rising accordingly. The law firm of Bernard Łukomski has in-depth knowledge and expertise in national and international tax laws and we advise our clients in all aspects of personal and corporate income taxes, VAT, excise duty, transfer tax, stamp duty, real estate tax, tax disputes, social security, and fiscal criminal law.

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bernard.lukomski@kpbl.pl

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