Upcoming deadlines for submission of notifications: CBC-P and ORD-U
29 March 2021
29 March 2021
We would like to inform you about the upcoming deadlines for:
Country-by-Country report (CBC-R) is a reporting mechanism set out in the Act of 9 March 2017 on the exchange of tax information with other countries. According to it, entities belonging to large multinational groups are obliged to provide the National Tax Administration with tax information related to this group of entities.
The entities obliged to submit CBC-R reports include those whose consolidated revenues (balance sheet revenues) in the reporting financial year exceeded:
Conversion of threshold figures for the purposes of CBC reporting is made in accordance with the guidelines set out in Article 82(2)(2) of the Act on the exchange of tax Information with other countries:
Companies that are members of capital groups whose results are consolidated in the financial statement of the group obliged to file a CBC-R report are required to submit a CBC-P notification. In the CBC-P notification the company must indicate the CBC-R reporting entity and the country in which this report will be submitted.
The submission of the CBC-P notification should be made within 3 months after the end of a financial year for which a consolidated financial statement is prepared. Therefore, for most entities the deadline is 31 March 2021.
The submission of the CBC-R notification should be made within 12 months after the end of a financial year for which a consolidated financial statement is prepared.
The CBC-P notifications and the CBC-R report should be submitted in electronic form and signed with a qualified electronic signature. The forms are available at the following website: podatki.gov.pl. Failure to fulfil this obligation or submitting a declaration that is inaccurate or incomplete may result in a fine of up to PLN 1 million.
Submission of an ORD-U form for 2020 is obligatory for entities which concluded agreements with non-residents within the meaning of the foreign exchange law:
The ORD-U form should be drawn up and sent to the competent authority within three months from the end of the tax year. In most cases the deadline is 31 March 2021. The ORD-U form may be submitted in electronic form. It is available at the following website: podatki.gov.pl.
If you have any additional questions about tax or require further information, please contact your relevant contact person who will forward your enquiry to the department:
GETSIX TAX & LEGAL
Our specialist tax advisors, headed by Mrs. Aneta, are at your disposal. You will find the contact form on the HLB Poland website: LINK.