The improvement of digital technologies and the increasing popularity of electronic banking in Poland led to changes in the approach of taxation offices to financial control. Since 2022, the fiscal has gained fresh cash flow monitoring tools that cover both large and tiny bank transactions. What does this mean for an average electronic banking user?
Scale of electronic transactions in Poland
According to reports of the National Settlement Chamber, in 2023 the strategy Elixir processed above 2.22 billion transactions with a full value of PLN 8.47 trillion. This is simply a twelve percent increase compared to the erstwhile year. Electronic transfers became everyday for most Poles, which besides increases the hazard of irregularities specified as taxation avoidance or money laundering.
New powers of taxation offices
Within the framework of extended competences, Polish taxation offices have the anticipation to:
- Monitoring of bank transactions: Banks are required to study suspicious operations to Chief Inspector of taxation Administration (GIAS).
- Control of large transactions: Transfers exceeding the equivalent pay peculiar attention EUR 15 000 (approximately PLN 65-70 thousand).
- Analysis of different transaction patterns: Regular transfers of tiny amounts, which scope crucial amounts of money each period or year, and transfers with different titles, specified as donations of advanced value, are under scrutiny.
Donations and taxation limits
Donations are 1 of the areas to which the taxation pays peculiar attention. The applicable limits depend on the degree of kinship:
- Next of kin: To 36 120 PLN without having to pay the tax.
- Unrelated: Limit 5,733 gold, and exceeding it may consequence in a taxation of up to a twelve percent on the value of the donation.
Incorrectly documented donations can be considered as concealing income, resulting in legal and financial consequences.
Retrospective checks: up to 5 years back
One of the most advanced fiscal tools is the anticipation of analysing transactions from the past. taxation offices may analyse financial flows in bank accounts even to five years back. This allows you to detect long-term taxation avoidance schemes or money laundering.
What transactions are peculiarly suspicious?
The most frequently controlled transactions include:
- Transfers without indication to the consignee Or incorrect data.
- Regular transfers of identical amounts from different broadcasters, which may propose trying to hide the actual nature of the flows.
- International transactions, peculiarly erstwhile it concerns countries with low financial transparency.
How do you defend yourself from fiscal problems?
Financial experts urge respective key actions to aid avoid problems:
- Describe transactions unambiguously. It is worth avoiding general transfer titles, specified as “loan” or “gift”, without further details.
- Keep papers confirming the validity of the transaction. This could be, for example, a donation agreement, invoice or proof of sale.
- Avoid dividing large amounts into smaller transfers. specified action may rise suspicions of attempting to circumvent the rules.
- Consult the taxation advisor. In the case of complex financial operations, it is worth utilizing a specialist.
Objective of the fresh regulation
The fresh government aims primarily at sealing the taxation system and the fight against financial crime, including money laundering. Although they may seem rigorous, their introduction besides aims to defend honest citizens and to guarantee a level playing field in the financial system.
The expanded powers of taxation offices and the expanding control of financial flows are a change that requires citizens to become more aware of individual finance. Compliance with the rules, appropriate documentation of transactions and transparency in financial activities are crucial.
Although fresh regulations may seem burdensome to many, their aim is to make a more fair and transparent taxation system, which benefits society as a whole.
More here:
Digital fiscal supervision: what do you request to know about fresh financial regulations?
