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Rozdzia 2. Revenues.
Art. 12 [General notion of revenue]
1. Revenues, subject to paragraphs 3 and 4 and Articles 13 and 14, shall be, in particular:
1) cash and cash equivalents received, including foreign exchange gains;
2) the value of things or rights received free of charge or partially free of charge, as well as
the value of other free-of-charge or partially free-of-charge performances, with the exception
of performances linked with utilization of fixed assets received by budgetary establishments,
subsidiary undertakings of budgetary entities, public utility companies 100% owned by local
government bodies or their associations from the State Treasury, local government units or
their association for gratuitous management or use;
3) the value, subject to paragraph 4.8, of remitted or time-barred:
a) debts, including loans (credits), with the exception of remitted loans from the Labour Fund;
b) money in bank accounts - in banks;
4) the value of repaid amounts due, which were written off, in accordance with Article
16.1.25 or 16.1.43, as lost or extinct, and classified as deductible costs;
4a) for participants of investment funds - funds income received, if its statute provides for
payment of income without redemption of participation units or redemption of investment
certificates;
4b) for managers of state-owned enterprises - remuneration under management contracts,
including the right to a share in enterprises profits;
4c) the value of returned amounts due under the agreement, referred to in Article 17f,
previously classified as deductible costs pursuant to Article 17h;
4d) the value of amounts due, remitted, time-barred or written off as lost in that part on which
revaluation write-offs were previously classified as deductible costs;
4e) the equivalent of revaluation write-offs on amounts due, previously classified as
deductible costs, in case the reasons underlying those write-offs ceased to exist;
4f) in case of reduction or refund of the goods and services tax or refund of excise duty in
accordance with separate regulations - input goods and services tax or refunded excise duty,
in that part in which the tax or duty were previously classified as deductible costs;
4g) the amount of the goods and services tax:
a) not included in the initial value of fixed assets and intangible assets depreciated in
accordance with Article 16a-16m; or
b) relating to things or rights other than fixed assets or intangible assets, referred to in letter
(a)
- in that part, in which the adjustment was made as a result of which the tax deducted in
accordance with Article 91 of the Goods and Services Tax Act was increased;
5) for insurers - the amount equivalent to the reduction of technical reserves established in
accordance with separate regulations
5a) the equivalent of released or reduced provisions, referred to in Article 16.1.27, previously
classified as deductible costs;
6) in banks - the amount equivalent to:
a) general banking risk provision established in accordance with the Banking Act of 29
August 1997 (Dz.U. of 2002 No. 72, item 665, No. 126, item 1070, No. 141, item 1178, No.
144, item 1208 and No. 153, item 1271), released or utilized otherwise;
b) released or reduced provisions, referred to in Article 16.1.26, previously classified as
deductible costs, subject to paragraph 4.15(b);
7) the par value of shares (stocks) in a capital company or a cooperative - received in
exchange for a contribution in kind in the form other than an undertaking or an organized part
thereof; the provisions of Article 14.1-14.3 shall apply, as appropriate;
8) consideration received by the taxpayer as a result of retirement of shares (stocks) received
in exchange for a contribution in kind in the form of an undertaking or an organized part
thereof;
9) in case of division of companies, if assets taken over as a result of the division, and in case
of division by spin-off also assets remaining in the company, do not constitute an organized
part of an undertaking - the market value of assets transferred to the acquiring or newly
established companies, determined as at the date of the division or spin-off; the provisions of
Article 14.2-14.3 shall apply, as appropriate;
1a. In case of repayment of a part of the amount due, referred to in paragraph 1.4, income
shall be determined in proportion to the share of the repaid part of the amount due in the total.
1b. Income described in paragraph 1.7 shall arise as at the date of:
1) registering a capital company; or
2) entering an increase of initial capital of a company into a register; or
3) issue of share documents, if the receipt of shares is linked with the conditional increase of
initial capital.
2. Revenues in foreign currencies shall be converted into Polish zlotys in accordance with the
average exchange rates applicable on the date income was generated, as announced by the
National Bank of Poland.
2a. Revenues generated as a result of foreign exchange differences on own financial assets in
foreign currencies shall be determined as a difference between the value of those assets
calculated at the currency purchasing rate as at the date on which revenues were actually
received and currency purchasing rate as at the date of their receipt, or the currency selling
rate as at the date of acquisition of currencies, as announced, as appropriate, by the bank,
whose services were used by the taxpayer.
3. Revenues from commercial activities and special sectors of agricultural production
generated in the tax year shall also be the amounts due, even though not actually received,
having excluded the value of goods returned, rebates and discounts granted. If revenues are
denominated in foreign currencies, and between the date on which they were generated and
the date on which they were actually received various exchange rates were applicable, those
revenues shall be increased or reduced, as appropriate, by the differences arising from
application of the currency purchasing rate as at the date of the actual receipt of revenues, as
determined by the bank whose services were used by the revenue generating party, and
application of the average exchange rate as announced by the National Bank of Poland as at
the date on which revenues were generated.
3a. The date on which revenues were generated, referred to in paragraph 3, shall be, subject to
paragraphs 3c and 3d, the date of invoicing (billing), though not later than the last day of the
month, in which:
1) the thing was delivered, the property right was sold, or
2) the service was performed, including partially performed service, if its partial performance
constitutes a title for payment under a contract or separate regulations; or
3) payment for the performance was received - in other cases.
3b. (repealed)
3c. Revenues generated under rent, tenancy, leasing or similar agreements shall be revenues
due determined as at the date at which the amounts arising under those agreements become
payable.
3d. In case of settlements relating to:
1) the supply of electricity, heat or pipe gas;
2) the supply of telecommunication and radiotelecommunication services, with the exception
of prepaid services, including telephone services;
3) water distribution, wastewater management, waste disposal and neutralization services
- the date on which revenues are generated shall be the due date for payment specified in the
invoice, and if that date is not specified - the last day of the month in which the invoice was
issued.
4. Revenues shall not include:
1) payments collected or amounts due entered in the books on account of deliveries of goods
and services, which will be effected in the following reporting periods, as well as loans
(credits) obtained or repaid, with the exception of capitalized interest on those loans (credits);
2) the amounts of accrued but not received interest on amounts due, also including interest on
loans (credits) extended;
3) returned shares (stocks) in a company or shares in a cooperative, retirement of shares or
stocks in a company, including the amounts received from selling shares (stocks) to the
company in order to be retired, and the value of assets received in connection with liquidation
of a legal person - in the part constituting the cost of their purchasing or receipt, and also
refunds of additional payments made by the participants (shareholders) under separate
regulations - in the amount determined in PLN as at the date of their actual contribution;
4) revenues received for the creation or increase of the initial capital, the share fund or the
initial fund, or the statutory fund in a state bank, or the organizational fund of an insurer;
4a) revenues received by an investment fund company on account of subscriptions for
participation units or investment certificates;
5) revenues, which within the meaning of the company social benefits fund regulations
increase that fund;
6) refunded, remitted or waived taxes and duties constituting income of the state budget or
budgets of local government units, not classified as deductible costs;
6a) other refunded expenses not classified as deductible costs;
6b) refunded, remitted or waived contributions paid to the State Fund for Rehabilitation of the
Disabled pursuant to separate regulations, not classified as deductible costs;
7) interest received in connection with the refund of overpaid taxes and other amounts owed
to the budget, as well as interest on the refund of the goods and services tax difference, within
the meaning of separate regulations;
8) amounts equivalent to remitted debts, including remitted loans (credits), if remittal of those
debts is related to:
a) bank arrangement proceedings within the meaning of regulations concerning financial
restructuring of companies and banks; or
b) bankruptcy proceedings involving the possibility to enter into an arrangement within the
meaning of the bankruptcy and restructuring law; or
c) implementation of a restructuring programme pursuant to separate acts of law;
9) the goods and services tax due;
10) the difference in the goods and services tax due refunded under separate regulations;
10a) the amounts due by virtue of the goods and services tax exempt from payment within the
meaning of the goods and services tax regulations;
11) additional payments made by the companies, if made in accordance with the procedure
and principles laid down in separate regulations, with respect to the amounts and assets in
excess of the nominal value of shares (stocks), received upon their issue and appropriated for
reserve capital, and in cooperatives and their associations - the value of the initial fee,
appropriated for the reserve fund;
12) in case of merger or division of capital companies, subject to paragraph 10.1.6, revenues
of a participant (shareholder) of the acquired or divided company, in excess of the nominal
value of shares (stocks) allotted by the acquiring or newly established company;
13) revenues from selling under a transfer of ownership agreement as security for a debt,
including a loan or credit - until final transfer of ownership of the object of the agreement;
14) the value of received gratuitous or partially gratuitous things or rights, and the value of
other gratuitous or partially gratuitous performances financed or co-financed with the funds
from the state budget, local government units, with the funds of government agencies or with
the funds provided by the governments of foreign states, international organizations or
international financial institutions, under government programmes;
15) in banks:
a) nominal value of shares (stocks) of enterprises under a restructuring programme
implemented pursuant to separate acts of law, received in exchange for debts under credits
(loans) extended to those enterprises, for which provisions were established previously
classified as deductible costs; in case of selling those shares (stocks) deductible costs shall not
be determined;
b) provisions classified as deductible costs, released or reduced as a result of exchanging
debts under credits (loans) for shares (stocks) of enterprises under restructuring programme
pursuant to separate acts of law;
c) revenues from selling debts under credits (loans) sold to a securitization fund or an
investment fund company establishing a securitization fund of debts under credits (loans) - up
to the amount of the unpaid portion of credits (loans) extended;
16) the value of performances received from voluntaries, provided in accordance with the
principles laid down in the regulations concerning public benefit and voluntary activities;
17) amounts equivalent to the value of real property left outside of the present borders of the
Polish state in the part credited, pursuant to separate regulations, to the sales price or perpetual
usufruct charges with respect to real property of the State Treasury.
4a. (deleted)
4b. In case of contracts for renting or leasing things or property rights and similar contracts, if
the renting or leasing party transferred the claims with respect to rents or fees arising from
such contracts to a third person, and those contracts between the parties do not expire, the
revenues of the renting or leasing party shall not include the amounts paid by the third party
for the transfer of claims. Fees paid by the tenant or leaseholder to the third party shall
constitute revenues of the landlord or lessor as at the due date.
4c. In case of selling loaned securities in accordance with the principles laid down in separate
regulations (short selling), income shall be determined as at the date at which the borrowed
securities were returned or were to be returned, in accordance with the concluded securities
loan agreement.
4d. In case of taxpayers selling shares (stocks) of one capital company to another capital
company, if:
1) in a members state of the European Union the purchasing company and the selling
(receiving) company are taxed on the entirety of their income regardless of where its has been
generated; and
2) as a result of purchasing shares (stocks) the purchasing company acquires the absolute
majority of votes in the company whose shares (stocks) are sold; and
3) in exchange for the shares (stocks) sold the selling company receives shares (stocks) of the
purchasing company or receives shares (stocks) of the purchasing company together with a
consideration in cash not larger than 10% of the balance-sheet value of the shares (stocks)
received
- the value of shares (stocks) received in the selling company and the purchasing company
shall not be included in revenues.
4e. The principles, laid down in paragraph 4.15(c) shall not apply to revenues from selling
debts in the part concerning interest, including capitalized interest on credits (loans).
5. The monetary value of things or rights received free of charge shall be determined in
accordance with market prices applicable in trading of things or rights of the same type and
quality, in particular taking into account their condition, degree of wear, as well as the time
and place of obtaining them.
5a. The value of partially paid for things or rights constituting taxpayers revenues shall be the
difference between the value of those things or rights, determined in accordance with the
principles laid down in paragraph 5, and the consideration paid by the taxpayer. The provision
of Article 14.3 shall apply, as appropriate.
6. The value of gratuitous performances shall be determined in the following manner:
1) if the performance concerns services included in the commercial activities of the
performing party - at prices applied to other recipients;
2) if the performance concerns purchased services - at purchasing prices;
3) if the performance concerns letting the use of premises - at the equivalent of the rent that
would have been due under a potential lease contract for those premises;
4) in other cases - in accordance with market prices applied in the performance of services or
letting the use of things or rights of the same type and quality, taking into account their
condition, degree of wear, as well as the time and place of letting them for use.
6a. The value of partially paid for performances constituting taxpayers revenues shall be the
difference between the value of those performances, determined in accordance with the
principles laid down in paragraph 6, and the consideration paid by the taxpayer. The provision
of Article 14.3 shall apply, as appropriate.
7. (deleted)
8. (deleted)
9. The provision of Article 4.15(c) shall not apply to the amounts of repaid credits (loans)
received, not transferred to a securitization fund or an investment fund company establishing
a securitization fund - after 5 days from the due date of their transfer.
10. The provision of paragraph 1.4g shall apply, as appropriate, should the right to deduct
input tax from output tax, referred to in Article 91.7 of the Goods and Services Tax Act,
change.
11. The provisions of paragraph 4d shall be applied, as appropriate, to entities listed in Annex
No. 3 to this Act.
Art. 13 [Real property let over for use free of charge]
1. Income from all or part of real property let over for use free of charge to other natural and
legal persons and unincorporated organizational entities, subject to paragraph 3, shall be the
equivalent of the rent that would have been due under a potential tenancy or lease contract for
real property, determined in accordance with the average amount of rents applicable in a
given locality for leasing out real property of the same kind.
2. The provision of paragraph 1 shall not apply while letting over for use:
1) residential premises to persons remaining with the taxpayer in employment relationship, for
whom it constitutes gratuitous performance within the meaning of the provisions of the
Personal Income Tax Act;
2) real property or its part for the purposes of scientific, scientific-technical, didactic,
educational, cultural activities, activities in the field of physical culture and sports,
environment protection, charity, health protection and social welfare, occupational and social
rehabilitation of disabled persons, religious cult and to trade unions.
3. The provisions of Article 12.4.7, 12.4.9 and 12.4.10 shall apply, as appropriate.
Art. 14 [Sale of assets]
1. Revenues from selling real property or property rights, subject to paragraphs 4 and 5, shall
be their value expressed as the price specified in the contract. If, however, the price, without a
justified reason, substantially differs from the market value of those things or rights, that
revenue shall be determined by the tax authority at market value.
2. The market value, referred to in paragraph 1, of things or property rights shall be
determined on the basis of market prices applicable in trading of things or rights of the same
kind and quality, taking into account, in particular, their condition and degree of wear, and the
time and place of selling.
3. If the value expressed as the price in the sales contract substantially differs from the market
price of those things or rights, the tax authority shall request the parties to adjust that value or
indicate reasons justifying the price substantially differing from the market value. In case of
no answer being given, no adjustment being made of the value, or no indication being given
as regards the causes justifying the price substantially differing from the market value, the tax
authority shall determine the value taking into account expert opinion. If the value so
determined differs by at least 33% from the value expressed as the price, the costs of the
expert opinion shall be borne by the selling party.
4. The provisions of Article 12.4.7, 12.4.9 and 12.4.10 shall apply, as appropriate.
5. (deleted)
- those expenses, updated in accordance with separate regulations, minus the sum total of
depreciation write-offs, referred to in Article 16h.1.1, shall be, however, the deductible costs,
subject to subparagraph 8a, in case of selling fixed or intangible assets, regardless of when
they have been incurred;
2) (deleted)
3) (deleted)
4) the part of depreciation with respect to the use of a passenger car, written off in accordance
with the principles laid down in Article 16a-16m, determined on the value of the car
exceeding the equivalent of EUR 20 000 converted into PLN at the average EUR rate
announced by the National Bank of Poland as at the date of giving the car for use;
5) the part of losses in fixed assets and intangible assets covered by the sum total of
depreciation write-offs, referred to in Article 16h.1.1;
6) losses incurred as a result of liquidation of not fully depreciated fixed assets, if those assets
ceased to be economically useful owing to the change of commercial activities;
7) (deleted)
8) expenses on receipt or acquisition of shares in a cooperative, shares or stocks in an
incorporated company and other securities, as well as expenses on acquisition of participation
titles or participation units in capital funds; however, such expenses shall be the deductible
costs when determining income from selling those shares, stocks and other securities,
including income with respect to redemption of securities by the issuer, as well as retirement
of participation titles or participation units in capital funds;
8a) (deleted)
8b) expenses related to acquisition of derivative financial instruments - until the rights under
those instruments are exercised, or the exercise of rights under those instruments is waived, or
they are sold - with the proviso that, in accordance with Article 16g.3 and 16g.4, those
expenses do not increase the initial value of fixed asset and intangible assets;
8c) expenses of a participant (shareholder) of the acquired or divided company for receipt or
acquisition of shares (stocks) in those companies in case of merger or division of capital
companies, subject to paragraph 10.1.6; those expenses shall be the deductible cost with
respect to revenues from selling shares (stocks) of the acquiring or newly established
company in the amount:
a) determined pursuant to Article 15.1k - if shares (stocks) in the acquired or divided
company were received in exchange for a contribution in kind;
b) determined pursuant to paragraph 8 - if shares (stocks) in the acquired or divided company
were acquired or received for cash;
c) of expenses for acquisition or receipt of shares (stocks) in the divided company, determined
in accordance with letter (a) or (b), in such proportion as the nominal value of that
participants cancelled shares (stocks) in the divided company to the value of nominal value
of shares (stocks) before the division; the remaining amount of those expenses shall be the
deductible cost with respect to selling shares (stocks) of the company divided by spin-off.
8d) expenses for acquisition or receipt of shares (stocks) transferred to another company in a
manner, referred to in Article 12.4d; those expenses shall be the deductible costs, determined
in accordance with subparagraph 8 and Article 15.1k, if the shares (stocks) received for them
are sold;
9) write-offs and contributions to various funds established by the taxpayer; however, the
following shall be treated as the deductible costs:
a) basic write-offs and contributions to those funds, if the duty or possibility to establish them
and charge to costs is laid down in separate acts;
b) write-offs and increases, which within the meaning of the regulations concerning internal
social benefits funds are charged to the employers operational costs, if the money equivalent
of those write-offs and increases have been paid to the account of the Fund;
c) (repealed)
10) expenses:
a) for repayment of loans (credits), with the exception of capitalized interest on those loans
(credits);
b) for repayment of other commitments, including those with respect to guarantees and
warranties granted;
c) retirement of capital having connection with the establishment (acquisition), expansion or
improvement of a source of revenues;
d) (deleted)
e) with respect to transfer of amounts repaid under credits (loans), covered by debt
securitization, to a securitization fund or an investment fund company establishing a
securitization fund by a bank;
11) accrued though unpaid or cancelled interest on commitments, including also loans
(credits);
12) interest, commissions and exchange rate differences on loans (credits) increasing the costs
of investment projects in the course of their implementation;
13) interest on own capital invested by the taxpayer in a source of revenues;
13a) interest on additional contributions brought in to a company in accordance with the
procedure and principles laid down in separate regulations, as well as interest on dividends
and other income from a share in profits of legal persons;
14) donations and contributions of any kind, with the exception of those made between the
companies making up a tax capital group, as well as contributions to the Polish Tourist
Organization;
15) income tax and payments from profits specified in separate regulations;
16) one-time compensations with respect to accidents at work and occupational diseases in the
amount specified by a competent minister and the additional insurance premium as a result of
worsened working conditions;
17) costs of enforcement related to non-performance of the obligations;
18) fines and financial penalties adjudged as a result of penal, penal fiscal, administrative and
petty offence proceedings, as well as interest on those fines and financial penalties;
19) penalties, charges and damages as well as interest thereon with respect to:
a) non-observance of environmental regulations;
b) non-performance of orders of competent regulatory and control authorities concerning
negligence with respect to work safety and hygiene;
19a) additional product fee, referred to in Article 17.2 of the Act of 11 May 2001 concerning
entrepreneurs duties in the area of certain waste management and on product fees and deposit
fees (Dz.U. No. 63, item 639 and of 2002 No. 113, item 984), with the proviso that the
deductible cost is the product fee, referred to in Article 12.2 of that Act;
20) debts written off as overdue;
21) interest for default with respect to budgetary dues and other dues, to which the provisions
of the Taxation Act are applicable;
22) contractual penalties and compensations for defects of goods delivered, work and services
performed and a delay in delivering defect-free goods or a delay in eliminating defects of
goods or work and services performed;
23) expenses on redemption of bonds, net of the discounted interest;
24) expenses related to real property in an event, referred to in Article 13.2.2.
25) debts written off as unrecoverable, with the exception of:
a) debts which had been previously, under Article 12.3, booked as revenues due and whose
unrecoverability has been documented in a manner described in paragraph 2;
b) extended by organizational entities authorized, under separate acts of law regulating the
principles of their functioning, to extend credits (loans) - credits (loans) due though
unrecoverable, net of the amount of unpaid interest and the equivalent of provisions for those
credits (loans), previously classified as the deductible costs;
c) losses incurred by a bank with respect to guarantees or warranties for repayment of credits
and loans, granted after 1 January 1997, calculated in accordance with subparagraph 25 (b);
26) provisions established to cover debts, the unrecoverability of which has been proved as
credible, with the exception of those provisions established to cover:
a) in organizational entities, referred to in subparagraph 25 (b):
- credits (loans) due though unrecoverable;
b) guarantees or warranties for repayment of credits and loans, granted by a bank after 1
January 1997, due though unrecoverable;
c) guarantees or warranties for repayment of credits and loans, granted by a bank after 1
January 1997, classified as lost, extended to entrepreneurs implementing the restructuring
programme under separate acts;
d) 25% of credits and loans classified as doubtful and 25% of guarantees or warranties for
repayment of credits and loans classified as doubtful - granted by a bank after 1 January 1997;
e) 50% of credits and loans classified as doubtful and 50% of guarantees or warranties for
repayment of credits and loans classified as doubtful - extended by a bank to entrepreneurs
implementing the restructuring programme under separate acts;
26a) revaluation write-offs, with the proviso that the deductible costs are revaluation write-
offs on receivables, described in the Accounting Act, with respect to that part of receivables
which, pursuant to Article 12.3, had been previously booked as revenues due and the
unrecoverability of which has been proved as credible under paragraph 2a.1;
27) provisions, other than those mentioned in subparagraph 26, if the duty to establish and
charge them to costs does not arise from separate acts; however, provisions established in
accordance with the Accounting Act, other than those specified in this Act as the deductible
costs, shall not be treated as such;
28) the part of entertainment and advertising costs exceeding 0,25% of revenues, unless
advertising is carried out in mass media or otherwise publicly;
29) write-offs to the land reclamation fund exceeding the amount specified by the taxpayer for
a given year in the post-exploitation land reclamation plan, adjusted by the amounts of that
found remaining as at the beginning of the tax year;
30) expenses incurred on behalf of employees with respect to their use of cars for taxpayers
business purposes:
a) in order to go on a business trip (long-distance trips) - in the amount exceeding the amount
calculated at the rates per one kilometre of mileage;
b) for local trips - in the amount exceeding the amount of a monthly allowance or in the
amount exceeding the rates per one kilometre of mileage
31) (deleted)
32) additional amounts, which in accordance with price regulations should be paid to the state
budget;
33) additional amounts of annual fees for failing to build up or otherwise develop land within
certain period of time, specified in the regulations on real property management;
34) (deleted)
35) (deleted)
36) payments, referred to in Article 21.1 and in Article 23 of the Act of 27 August 1997 on
Occupational and Social Rehabilitation and on Employment of Handicapped People (Dz.U.
No. 123, item 776 and No. 160, item 1082, of 1998 No. 99, item 628, No. 106, item 668, No.
137, item 887, No. 156, item 1019 and No. 162, item 1118 and 1126, of 1999 No. 49, item
486, No. 90, item 1001, No. 95, item 1101 and No. 111, item 1280 and of 2000 No. 48, item
550);
37) contributions to organizations the membership of which is not mandatory for the taxpayer,
with the exception of:
a) contributions of cooperative organization to audit associations and the National
Cooperative Council, with the proviso that the upper limit of the contribution shall be set by
the minister competent for public finance, by way of an ordinance, having consulted the
National Cooperative Council;
b) (deleted)
c) contributions to organizations affiliating entrepreneurs and employers operating under
separate acts - up to the total amount not exceeding in the tax year the amount corresponding
to 0,15% the amount of remunerations paid in the preceding tax year, constituting a base for
assessment of social security contributions;
38) expenses related to making unilateral performances on behalf of the participants
(shareholders) or members of a cooperative who are not employees within the meaning of
separate regulations, with the proviso that the part of expenses made on behalf of members of
farming cooperatives and other cooperatives involved in agricultural production relating to
activities taxable with income tax shall be treated as the deductible costs;
38a) expenses on behalf of persons sitting on supervisory boards, audit committees or
governing bodies of legal persons, with the exception of remunerations paid for the
performance of those functions;
39) losses from selling debts, unless the debt had been previously booked, pursuant to Article
12.3, as income due;
40) social security and Labour Fund contributions, and contributions to other targeted funds
established under separate acts - with respect to awards and bonuses paid in cash or securities
from income after taxation with income tax;
41) incurred costs of discontinued investment projects;
42) (deleted)
43) remitted bank credits (loans), if remittal of those debts is not related to:
a) bank arrangement proceedings within the meaning of regulations concerning financial
restructuring of companies and banks; or
b) bankruptcy proceedings involving the possibility to enter into an arrangement within the
meaning of the bankruptcy and restructuring law; or
c) implementation of a restructuring programme pursuant to separate acts of law;
44) remitted debts, with the exception of those which had been previously, under Article 12.3,
booked as revenues due;
45) employers expenses on social activities, referred to in the regulations concerning the
company social benefits fund; however, holiday benefits paid in accordance with the
regulations concerning the company social benefit fund shall be treated as deductible costs;
46) goods and services tax, with the proviso that the following shall be treated as deductible
costs:
a) input tax:
- if the taxpayer is exempt from the goods and services tax or purchased goods and services in
order to produce or resell goods or perform services exempt from goods and services tax;
- that part of the goods and services tax, as to which in accordance with the goods and
services tax regulations the taxpayer is not entitled to reduce the amount or to the refund of
the goods and services tax difference - if input goods and services tax does not increase the
value of a fixed asset or an intangible asset;
- transfer or use by the taxpayer of goods or performance of services for entertainment and
advertising purposes, calculated in accordance with separate regulations;
c) the amount of goods and services tax not included in the initial value of fixed assets and
intangible assets, depreciable in accordance with Article 16a-16m, or concerning things or
rights other than fixed assets or intangible assets subject to those depreciation - the part
thereof which had been adjusted to reduce tax deducted in accordance with Article 91 of the
Goods and Services Tax Act;
47) losses incurred as a result of excessive wastage or culpable shortage of excise goods and
excise duty on that wastage or shortage;
48) write offs with respect to the use of fixed assets and intangible assets made, in accordance
with the principles laid down in Article 16a-16m, from the part of their value corresponding
with the expenses incurred for acquisition or own production of those assets or intangible
assets, deducted from the taxation base or refunded to the taxpayer in any form;
49) passenger car insurance premiums in the amount exceeding their part set in the same
proportion that the equivalent of EUR 20 000, converted into Polish zlotys at the selling rate
of exchange of EUR announced by the National Bank of Poland as at the date of conclusion
of the insurance contract, constitutes in relation to the cars value accepted for insurance;
50) losses incurred as a result of the loss or liquidation of cars and the costs of their post-
accident repairs, if the cars were not covered by non-mandatory insurance;
51) the part of expenses, subject to subparagraph 30, with respect to the business use of
passenger cars not entered in the taxpayers inventory of fixed assets, exceeding the amount
resulting from multiplying the number of kilometres actually ran by the vehicle by the rate per
one kilometre of mileage, referred to in separate regulations issued by a competent minister;
the taxpayer shall be obliged to keep an inventory of vehicles mileage;
52) expenses incurred on purchasing taxpayers gradually wearing out tangible assets, not
classified as fixed assets - in case of stating that those assets are not used for the needs of
commercial activities conducted by the taxpayer, but they serve personal purposes of
employees or other persons, or without justification are found outside of the taxpayers
premises;
53) additional payments, referred to in Article 12.4.11, and their refunds;
54) sanction fees, which in accordance with separate regulations are payable to the state
budget or budgets of local government units;
54a) aadditional fee imposed by the Social Security Company under the regulations
pertaining to the social security system;
55) the part of maintenance costs of company social facilities covered from the internal social
benefits fund;
56) losses (costs) incurred as a result of prepayments (advances, down payments) lost in
connection with non-performance of a contract;
57) payments, benefits and other dues as specified in Article 12.1 and 6, Article 13.2 and
13.4-13.9 and in Article 18 of the Personal Income Tax Act of 26 July 1991 (Dz. U. of 2000
No. 14, item 176, with later amendments), as well as social security cash benefits payable by
the employer, which have not been paid, performed or made available;
57a) the part of unpaid social security (ZUS) contributions, subject to subparagraph 40,
specified in the Act of 13 October 1998 on the Social Security System, which is financed by
the contributions withholding agent;
58) expenses and costs financed directly from income (revenues), referred to in Articles
17.1.14a, 23 and 24, or with funds, referred to in Article 33.4 of the Act of 24 April 2003 on
Public Benefit and Voluntary Activities (Dz.U. No. 96, item 873, with later amendments);
59) premiums paid by the employer with respect to insurance contracts concluded or renewed
on behalf of employees, with the exception of contracts concerning category 1, 3 and 5 of
Class I and category 1 and 2 of Class II risks listed in the Annex to the Insurance Act of 22
May 2003 (Dz.U. No. 124, item 1151) if the beneficiary is not the employer and within 5
years from the end of the calendar year when the insurance contract was concluded or
renewed it excludes:
a) payment of the surrender value;
b) possibility of assuming obligations secured by rights under the contract;
c) payment for survival until the age specified in the contract;
60) interest on loans (credits) extended to a company by its participant (shareholders) holding
not less than 25% of that companys shares (stocks) or participants (shareholders) together
holding not less than 25% of that companys shares (stocks), if the aggregate amount of the
companys debt to that companys participants (shareholders) holding not less than 25% of
that companys shares (stocks) and to other entities holding not less than a 25% interest in the
capital of such participant (shareholder) reaches three times the initial capital of the company
- the part thereof in which the loan (credit) exceeds that value of the debt, determined as a the
date of payment of interest; those provisions shall apply, as appropriate, to cooperatives,
cooperative members and the share fund of such cooperative;
61) interest on loans (credits) extended by a to another company, if in both companies the
same participant (shareholders) holds not less than 25% of shares (stocks), and the value of
debt of the borrowing company to that companys participants (shareholders) holding not less
than 25% of that companys shares (stocks) and to other entities holding not less than a 25%
interest in the capital of such participants (shareholders) and to the lending company reaches
three times the initial capital of the company - the part thereof in which the loan (credit)
exceeds that value of the debt, determined as a the date of payment of interest; those
provisions shall apply, as appropriate, to cooperatives, cooperative members and the share
fund of such cooperatives;
62) (repealed)
63) depreciation written off the initial value of fixed assets and intangible assets:
a) acquired free of charge, if:
- that acquisition does not generate revenues as a result of free-of-charge receipt of things or
rights; or
- the acquisition generates income, with respect to which taxation has been waived under
separate regulations;
b) if before 1 January 1995 they were acquired but not included in fixed assets or intangible
assets;
c) given away for use free of charge, with the exception of real property - for the months,
during which these assets were given away for use free of charge;
d) acquired in the form of a contribution in kind, on that part of their value which has not
been appropriated for establishment or increase of the initial capital of a capital company;
64) depreciation written off from the initial value of intangible assets brought into the
company in the form of the contribution in kind, being equivalent to information obtained
with respect to expertise in the area of industry, trade, science or organization (know-how);
65) costs connected with financing health care services by the employer on behalf of
employees, with the exception of the costs incurred for health care services, which the
employer is obliged to pay under the provisions of the Labour Code and other acts.
1a. (deleted)
1b. Whenever in this Act there is a mention of derivatives, it shall mean the property rights,
whose price depends directly or indirectly on the prices of commodities, foreign currencies,
Polish currency, foreign exchange gold, foreign exchange platinum or securities, or on interest
rates or indices, in particular options and futures;
2. The debts, referred to in paragraph 1.25, shall be the debts whose unrecoverability has been
documented with:
1) a decision of unrecoverability, accepted by the creditor as corresponding with the facts,
issued by a competent enforcement authority; or
2) court decision:
a) dismissing the petition in bankruptcy involving liquidation of all assets where the assets of
the insolvent debtor are not sufficient to cover the costs of the proceedings; or
b) discontinuing the bankruptcy proceedings involving liquidation of all assets in a situation
referred to in letter (a); or
c) terminating the bankruptcy proceedings involving liquidation of all assets; or
3) a report compiled by the taxpayer stating that the expected costs of the judiciary process
and enforcement connected with vindication of claim would be equal to or in excess of that
amount.
2a. Unrecoverability of a debt shall be deemed as rendered credible:
1) in the event, referred to in paragraph 1.26a, in particular, if:
a) the debtor died, has been crossed out from the commercial register, put in liquidation or
declared bankrupt involving liquidation of assets; or
b) bankruptcy proceedings with a possibility of concluding an arrangement within the
meaning of the bankruptcy and rehabilitation regulations have been initiated or arrangement
proceeds within the meaning of regulations concerning financial restructuring of companies
and banks have been initiated at debtors request; or
c) the claim has been adjudged by a valid court ruling and referred for enforcement; or
d) the claim has been questioned by the debtor in court;
2) in the event, referred to in paragraph 1.26 letter (a) first indent and 1.26 letter (b), if:
a) the requirement laid down in subparagraph 1 letter (a) or letter (b) has been met; or
b) the delay in repayment of the principal of the credit (loan) or interest exceeds 6 months,
and moreover:
- the requirement laid down in subparagraph 1 letter (d) has been met; or
- the claim has been referred for enforcement; or
- the whereabouts of the debtor are unknown and his assets have not been disclosed despite
creditors efforts aimed at determining those whereabouts and assets.
2b. Claims covered by provisions for credits (loans) and guarantees (warranties) for
repayment of credits and loans, referred to in paragraph 1.26, granted by a bank, shall be
reduced, subject to paragraph 2c, by the value of:
1) guarantees or warranties of the State Treasury, the National Bank of Poland or the Bank
Guarantee Fund;
2) guarantees or warranties of the central bank or the government of an OECD member state;
3) guarantees or warranties of a bank of good standing whose seat is located in an OECD
member state;
4) guarantees or warranties of a state legal person, excluding banks and insurance companies,
authorized by separate regulations to extend them under implementation of state assignments
entrusted to it, if the sources of financing potential commitments have been specified in the
state budget;
5) transfer of claims under a stand-by letter of credit opened or confirmed by a bank of good
standing whose seat is located in an OECD member state;
6) export insurance contract or insurance guarantee of Korporacja Ubezpiecze Kredytw
Eksportowych S.A., concluded or granted pursuant to the regulations concerning export
insurance guaranteed by the State Treasury, for a specified credit contract or off-balance sheet
commitment - up to 100% of the sum insured or amount of the guarantee, if the need to
establish a provision results from the events covered by that insurance or guarantee;
7) guarantees or warranties of Bank Gospodarstwa Krajowego from the National Credit
Guarantee Fund granted pursuant to the regulations concerning warrantees and guarantees
granted by the State Treasury and certain legal persons;
8) guarantees or warranties of a of local government entity of the Republic of Poland (gmina,
powiat or wojewdztwo) of good standing, with the provision that the deducted amount of the
security should be provided for in a resolution of a competent body of the local government
entity concerning determination of the maximum amount of loans, guarantees and warranties
granted by the board in the tax year;
9) depositing a specified amount in PLN or another convertible currency in an account of the
bank, which has agreed to return that amount upon the receipt of debt repayment including
interest due and the fee, up to that amount, with the provision that conversion into PLN shall
be done at the average rate of exchange as set by the National Bank of Poland as at the date of
the classification;
10) pledge by register on the debt under a deposit account in a bank:
a) which has a credit exposure; or
b) of good standing, whose seat is located in an OECD member state
- together with a statement that the deposit has been blocked and an authorization to withdraw
funds from the deposit account;
11) transfer by the debtor to the bank, until repayment of the debt including the interest due
and the fee, of the ownership title
a) securities issued by the State Treasury or the National Bank of Poland;
b) securities issued by central banks or governments of OECD member states;
c) bank securities issued by other banks;