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Changes at cash payment limit

The amendment of the Income Tax Acts and freedom of Economic Activity was submitted to the President for assent on May, 13th. The most important for entrepreneurs is change of an Article. 22 of Economic Activity Act, which makes changes at cash payment limit from 15,000 EURO to 15,000 PLN. This change will result in the inability to count these payments which are made in cash and have a value over 15,000 PLN as deductible expenses. According to the Council of Ministers it will result in a radical limitation of the "Gray zone" and will also increase budget revenues by 2 billion PLN.

The Council of Ministers in the statement justifying these changes said that because of the security reasons of transactions entrepreneurs make payments over 15 000 PLN through a bank account anyway. Moreover, the cash invoices which are made on thousands of PLN, may in practice be documents which confirm transactions that did not really happen. The amendment according to the assumptions will come into force on January 1, 2017.

The amendment of the Income Tax Acts and freedom of Economic Activity was submitted to the President for assent on May, 13th. The most important for entrepreneurs is change of an Article. 22 of Economic Activity Act, which makes changes at cash payment limit from 15,000 EURO to 15,000 PLN. This change will result in the inability to count thesepayments which are made in cash and have a value over 15,000 PLN as deductible expenses. According to the Council of Ministers it will result in a radical limitation of the "Gray zone" and will also increase budget revenues by 2 billion PLN. The Council of Ministers in the statement justifying these changes said that because of the security reasons of transactions entrepreneurs make payments over 15 000 PLN through a bank account anyway. Moreover, the cash invoices which are made on thousands of PLN, may in practice be documents which confirm transactions that did not really happen. The amendment according to the assumptions will come into force on January 1, 2017.
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