Family Support and Tax System Tightening: Higher PIT Threshold, Child Relief
This act introduces significant tax changes directly impacting family finances and tax system transparency. It raises the PIT tax threshold and substantially increases relief for parents with at least two children, aiming to improve their financial situation and encourage childbearing. Concurrently, it strengthens oversight of large corporations and tightens the VAT system to boost state budget revenues.
Key points
Higher PIT Tax Threshold: The first personal income tax threshold increases from PLN 120,000 to PLN 140,000 annually, meaning more people will pay the lower 12% tax rate.
Increased Relief for Families with Children: Parents with at least two children will see their tax-reducing amount increased to PLN 16,800, effectively making income up to PLN 140,000 per parent tax-free.
Enhanced Oversight of Large Corporations: Mandatory, regular transfer pricing audits are introduced for the largest companies, and penalties for irregularities are increased to prevent tax avoidance.
VAT System Tightening and Transparency: The split payment mechanism is extended to new goods and services (e.g., vegetable oils, tanker transport), and detailed reports on VAT and CIT revenues must be published.
Status:
In Progress
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