Dear Sirs,
In our advisory practice, we are increasingly encountering with our clients the potential to take advantage of a wide range of tax reliefs that can be used to the benefit of taxpayer.
Currently, the Polish tax system provides for a number of tax breaks for innovative activities, which can allow a company’s effective tax rate to be reduced significantly below 5%. Mechanisms currently available include:
- IP Box: the possibility of reducing the nominal income tax rate to 5%.
- R&D tax credit: the possibility of an additional tax credit for certain R&D expenses (NOTE: currently, the IP Box and the R&D tax credit can be accounted for at the same time, which allows for an additional tax shield effect).
- Innovative employees tax credit: the possibility of additional tax reduction in case the company does not have sufficient income to account for whole R&D tax credit amount.
- Prototype tax credit: the possibility of additional tax credit for new product development expenses.
- Robotization tax credit: the possibility of additional tax credit for certain expenses related to the acquisition and use of industrial robots.
- Pro-growth tax credit: the possibility of additional tax credit for certain expenses related to increasing sales.
Does this apply to my business?
It might seem that the solutions indicated above apply only to companies operating strictly in the innovative and new technology industries. However, this is not entirely true, and many companies may miss on the specific financial benefit of these reliefs from the outset.
In fact, the regulations are structured in such a way that any company can take advantage of them if it meets certain conditions, even if it is not in the high-tech industry or does not have special R&D departments.
- Is your enterprise developing new technological solutions, even if only new product designs, or new, more optimal production methods?
- Do you introduce improved sales methods in your enterprise, or develop algorithms used to better reach customers?
- Are you acquiring or developing robotic equipment in your enterprise? (For example, automated packaging or warehousing systems)
- In your enterprise, do employees spend even part of their working time developing and improving products, services or sales methods?
These are just the basic questions you should ask yourself when considering taking advantage of innovation relief. However, if you can answer at least one of these questions in the affirmative, there is a good chance your business could benefit from tax preferences.
How can we help?
We offer both a comprehensive review of the business to identify the possibility of taking advantage of the reliefs, along with an indication of potential savings. We will guide you through the entire process of implementing a particular relief as well as its settlement. We support you in dealing with the tax authorities, and also offer comprehensive training of the accounting and other departments to be able to settle the relief on their own.
Let’s start with a meeting, at which we will help, free of charge, to pre-diagnose the potential for implementing tax credits in the enterprise.
Why us?
- We offer years of experience from the country’s leading tax experts: Katarzyna Klimkiewicz-Deplano, Managing Partner, is annually recognized as the Best Tax Advisor in International Tax Law in the Rzeczpospolita ranking, and honored as Highly Regarded for World Tax and as a Leader in the Women in Tax group in International Tax Review’s World Tax ranking. In the 2024 Rzeczpospolita ranking, Adam Barcikowski, Manager, was recognized as a recommended Tax Advisor in the PIT category, and Agnieszka Kosicka, Senior Manager, was recognized as a recommended Tax Advisor in the CIT category.
- We are the 19th largest tax consulting firm in Poland in terms of revenue.
- We understand the business and implement practical solutions.
- Thanks to our comprehensive experience, including handling a wide variety of business industries, we are able to take a hands-on approach to complex regulations and guide clients through the entire process: from the initial calculations to getting the tax refund into your account.
We invite you to contact Nexia Advicero’s specialists to schedule a free initial meeting to discuss the potential for implementing relief in your business.
