On 12 April 2022, Poland published the Announcement of the Ministry of Finance on the rates of interest for tax arrears / late payment. This includes an increase in the interest rates as follows:
- The standard rate is increased from 10.0% to 12.0% per annum;
- The reduced rate is increased from 5.0% to 6.0% per annum; and
- The increased rate is increased from 15.0% to 18.0% per annum.
The reduced rate applies when a self-correction is made prior to a notice of procedures for an amended assessment and the payment is made within 7 days of filing the corrected return. The increased rate applies for VAT and customs duties, including where a taxpayer understates their tax liability, overstates an overpayment or refund claim, or fails to file a return and pay tax and this was detected in the course of tax control proceedings.
Note, this is the third late payment interest rate increase in 2022.
Source Orbitax
