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 in September 2023.

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

  • Standard rate has been set at 14.50%, by opposite to the 15.0% rate announced in September.
  • Reduced interest rate will be 7.25%, down from the 7.50% announced in September.
  • Increased interest rate stands at 21.75%, down from 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 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).

For the remaining cases not specifically included within the scope of the previous scenarios, the standard interest rate will apply.

Do you need help in Poland?

Auxadi can become your ideal partner in Poland. We offer a one stop shop value added outsourcing services in the areas of accounting and reporting, tax compliance, payroll management and representation services, among others.

Local Knowledge – International Coverage

Founded in 1979, Auxadi is a family-owned business working for multinational corporations, private equity funds and real estate funds. It’s the leading firm in international accounting, tax compliance and payroll services management connecting Europe and the Americas with the rest of the world, offering services in 50 countries. Its client list includes many of the top 100 PERE companies. Headquartered in Madrid, with offices in US and further 22 international subsidiaries, Auxadi serves 1,500+ SPVs across 50 jurisdictions.

All information contained in this publication is up to date on 2023. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.