Cash payments limited to 15k PLN

2017-02-24 Changes in regulations about cash payments for enterprises will take effect on January 1st 2017. They put a limit on the amount of deductible costs paid in cash up to 15k PLN. This will happen through the amendment in current regulatory framework.

Since the amendment Act was published in June 2016, taxpayers could see the changes and analyze them beforehand. The first interpretation doubts have arisen, i.e. whether the limit refers to the net or gross value.

In consequence, the tax authorities stated that the value of the transaction will be the price agreed by the parties of the transaction, which is the value that ne party is obliged to pay (gross). The issue of the exclusion from tax deductible costs should be considered to this part of the payment that may be regarded as deductible expense (net).

In short: Invoices above 15k PLN should be paid either by bank transfer or credit card.

Amounts above this limit paid in cash are not deductible.