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10 Important PIT Changes As of July 1, 2022

10 Important PIT Changes As of July 1, 2022

As of July 2022, more changes have been made to pit. What will change? And what should taxpayers prepare for? Are the changes helpful? Who will lose in the next tax reform? – explain

As of January 2022, the Polish order was in effect, which was intended to bring more money into taxpayers’ wallets. Reform, however, requires changes and corrections, which is what the Senate is currently working on. Changes introduced in January 2022 delighted lower-income taxpayers. The minimum wage has been increased to 3,010 PLN. Now, however, we need to prepare for the following changes, because the new Polish Order 2.0 will come into effect in July 2022

#1. 12 percent pit

From July 1, 2022, we will face an interest rate cut pit Up to 12 percent in the first tax threshold. The tax rate should be reduced while maintaining PLN 30,000 tax-free amount. However, we must remember that health insurance premiums will remain at 9%, so compared to 2021, taxes will not decrease. loads will be 12% pit Plus 9% health insurance. In 2021, the health insurance premium was deducted and the tax burden was 17% plus the health insurance premium 1.25, which until the submission of the Polish application was subject to a tax deduction of 7.75%. Hence, the tax burden will increase.

Polish Order 2.0: New tax measure for 2022 and the amount of reduced tax (draft changes) – PIT.pl

shorthand pit Up to 12% will change the amount that reduces the tax, which will change from the current 5100 PLN to 3600 PLN, which means per month (1/12 of the amount of tax reduction) a reduction in advance payments Income tax By PLN 300, instead of the current PLN 425.

#3. End of middle class relief

From July 1, the relief of the middle class will end. This preference will not apply and the obligation to calculate it in respect of income earned in the January-June 2022 period will disappear. Payers will not be obligated to make corrections to the exemption already due. However, some taxpayers will be able to apply this preference. The middle-class exemption will be exceptionally applicable for the 2022 tax year, if his request is proven to be more favorable to the taxpayer than the rules in force from July 1, 2022. Thereafter the relevant head of the tax office will be obligated to refund the difference to the taxpayer.

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“Polish Demand 2.0” since July. We check what our salaries are like – Bankier.pl

#4. The contribution of health insurance to the costs of economic activity with some form of tax

The health insurance contribution will not be deducted by taxpayers who pay taxes according to the general rules. Entrepreneurs who pay a flat tax in the form of a lump sum or use a tax card will be able to include the health insurance premium in their business costs. And yes:

  1. flat taxpayers They will be able to include the amount of health insurance paid in the costs of running their business. The tax base will be reduced by the amount of health insurance fees paid, However, up to 8700 PLN per year.
  2. flat rate taxpayers – will be able to lower rIncome tax base at 50% of the amount of health insurance fees paid. For total amounts, the highest possible contribution to health insurance is PLN 1007.81, and the maximum income reduction may be PLN 503.91. On an annual basis, this change will make the aggregate amounts profitable From 60 to 1028 PLN.
  3. Taxpayers pay in the form of a tax card He will be able to reduce the tax base by 19% of the amount of health insurance fees paid.

Source: shutterstock

# 5. Change in the form of taxes during the year

Some entrepreneurs will be able to change the form of taxes during the year. Such a possibility will be given to people who have chosen flat tax or flat tax as their form of tax for 2022. These taxpayers will be able to change the form of tax to general rules. Changes can be made up to:

  • April 30, 2023 – by taxpayers with written or lump-sum settlements,
  • August 22, 2022 – for lump sums who, in general, want to settle only the second half of the 2022 tax year.

The change in the form of taxes applies only to the 2022 tax year. In subsequent tax years, the entrepreneur will have to choose the form of taxes, as usual, at the beginning of the year.

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Polish order 2.0: changing the form of taxes during the year is not for every entrepreneur – PIT.pl

#6. No more double-dependence on advances pit

If the law is submitted on time, the obligation to double the account for advance payments on July 1 will disappear. Thus, the obligation to account for the advances on pit In accordance with the rules in force in the fiscal year 2021, as well as in accordance with the changes introduced by the Polish order in January 2022.

# 7. Changes in pit 2022 for single parents

Single parents will be able to settle accounts with their children in 2022. Relief in the amount of 1,500 PLN will be cancelled. The new regulations assume that single parents will still be able to settle accounts with their children. Return of joint accounting with the child

#8. Tax preferences for parents, guardians and children

From July 1, several new preferences for parents, guardians and children will apply:

  1. The amount of income that a child can earn without losing tax preferences must be increased by parents – from PLN 3,089 to PLN 16,061.28 in 2022 (12 times the social pension).
  2. The heirs’ pensions for minor children will not be added to the parents’ income. The child, as a separate taxpayer, will also benefit from the exemption amount of PLN 30,000. zloty
  3. No health insurance premium will be charged on survivor’s pension for children up to the age of 18,
  4. tax breaks (Youth Relief, To Return, For Families 4+, Working Seniors) It will also include maternity benefits granted to parents and guardians who take their children to their upbringing.

# 9. Pałacyk plus relief with modifications

Thz. The Pałacyk plus exemption will remain in the tax preferences for 2022. According to art. Article 10 of the March 24, 2022 bill amending the law Income tax From natural persons and some other business (Journal of Laws 2021, Clause 1128, as amended), the discount on antiquities will be adjusted. From July 1, this preference will not apply to the purchase of historic properties, but to their renovation. To take advantage of the renovation costs deduction from the tax, you will need to obtain approval from the Monument Maintainer regarding the expenses incurred to renovate your historic property.

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#10. Tax returns will be submitted by taxpayers within one deadline – by April 30th

As part of Polish Order 2.0, the deadline for filing the annual tax return will be standardized. After the adjustment it will be April 30 for all taxpayers regardless of the form of the tax. Thus, by the end of April, taxpayers who filed only PIT-36 or 37 will not have to settle their accounts by April 30, 2023. pit They will have to provide lump sums and people who pay taxes in the form of a tax card.

Tax reform will change a lot Income tax of natural persons, but it is certainly not the end of the changes and a return to the state of 2021. Currently, the regulations are being processed by the Senate. The government plans to take effect on the changes discussed on July 1, 2022 and will be applied to the tax settlement for the whole of 2022. In the case of changes made during the year, we will withdraw their applications until the beginning of 2022. Reduction pit Up to 12 percent favorable compared to the offered loads. However, not everyone will benefit from the changes that will be introduced as part of the Polish Order 2.0. Some, especially entrepreneurs, will be sorely affected by a new tax in the form of a non-deductible 9% of the health insurance premium. Some single parents will lose in the changes, taxpayers will lose as well, for whom the exemption for the middle class could be an adequate compensation for the introduction of a new tax in the form of a “health tax”. Finally, each taxpayer will assess the changes by filing a 2022 tax return and compare it to the 2021 settlement.

Polish Governance Taxes 2022 Deductions in PITPIT-36 PIT payer Accounting Tax card Lump sum PIT-37 PIT Tax-exempt amount middle class exemption HOT

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