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Businesses Affected by Fire Can Deduct Losses in PIT, VAT May Be More Challenging

  • Entrepreneurs affected by the fire will be able to deduct losses, including expenses for goods that burned
  • The biggest problem lies in the current VAT settlement, whether in the declaration for April or May
  • It is advisable to apply for installment payments or write-offs in this situation
  • Taxpayers may cite a Polish case law regarding VAT deduction
  • Loss must be properly documented to be included in the cost of revenue
  • Costs incurred to achieve revenue or maintain a source of revenue are considered as costs of revenue

Source: prawo.pl

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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