A new publication on Polish Official Gazette on October 12th announces the decision of Polish National Bank to decrease annual interests applicable to late payment of tax obligations. The new interest rates in Poland announced imply an additional reduction to the annual rates that had been previously published on September 2023.

Three different late payment interest rates are established based on the particular circumstances of each case:

  • Standard rate is fixed on 14.50%, by opposite to the 15.0% rate announced in September.
  • Reduced rate is fixed on 7.25%, by opposite to the 7.50% rate announced in September.
  • Increased rate is fixed of 21.75%, by opposite to the 22.50% announced in September.

With regards to the application of the different rates, taxpayers can benefit from the reduced rate in those scenarios where an amendment is submitted prior to receiving any notification or requirement from the Tax Agency. Additionally, the taxpayer must proceed to payment within 7 days from the date of submission of the self-assessment.

On the other hand, increased rate will apply to VAT and customs obligations when taxpayers fail to comply with the submission of tax returns on time, and also when the information included in the declarations is not accurate (either by underestimation of the payable amount or overestimation of the deductible amount or credit refund claim).

Any other situation falling out of the scope of above scenarios will be subject to standard rate.

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