Easier Submission of CIT-8 Statements

The Ministry of Finance introduced changes to the legal provisions governing the submission of CIT-8 statements of legal persons operating outside of the financial sector. They want submitting the annual statement to authorities is to become easier. For this purpose, the officials came up with a dedicated application that will quicken the process of preparing the tax statement.

CIT-8 statement is a document prepared once a year in which companies in Poland report their taxable income. Preparing and submitting the statement is obligatory. Business entities need to present the document to tax authorities by the end of the third quarter of the following year. What is more, from this January, all CIT-8s from business entities in Poland need to be submitted electronically.

To make the shift to electronic statements less of a shock and give Polish enterprises more time to prepare and adapt to the new conditions, government officials are currently working on regulations that will extend the deadline for submitting income statements for certain taxpayers whose tax year started after 31 December 2017 and ends by July 2019. The deadline will be prolonged to October 2019.

The tax statement should be in the .xml file format and be signed by means of a free trusted signature or a paid qualified signature. The taxpayer may also assign a plenipotentiary who will submit the document acting based on a suitable power of attorney. However, taxpayers need to remember that the authorization has to be reported to tax authorities prior to submitting the document. Even company accountants cannot submit electronic documents on behalf of the company without the power of attorney.

Preparing CIT-8 is now easier than ever thanks to the new E-Statements desktop app that is available free of charge. It enables taxpayers to enter financial data and generate and sign the document.