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Measures taken in response to coronavirus (COVID-19) pandemic

Adoption date

Type of measure

Beneficiaries' sector specification

Description of measure

17/03/2020

Public guarantees

Other

Extension of special conditions for BGK's de minimis credit guarantees for SMEs to the end of June 2022 - exposure is covered in 80%, 0% guarantee fee and duration of the guarantee extended to 75 months for working capital loans and 120 months for investment loans. Extension of BGK's guarantees secured leasing transactions in the form of guarantees on financial leasing and leasing loans, with counter-guarantees from the European Investment Fund and granted from the Pan-European Guarantee Fund to the end of June 2022. In the case of leasing guarantees BGK's guarantee for the final beneficiary is 80% of the outstanding capital, the EIF counter-guarantee rate amounts to 70% of the BGK guarantee, the remaining part of BGK's risk share is 30% of the guarantee, guaranteee fee is on the level of 0,3%, the aid is channelled indirectly through leasing companies.

17/03/2020

Public guarantees

All non-financial sector

Increase of export guarantees

17/03/2020

Public loans

Non-financial corporations

Loans of up to PLN 5 ths for micro-corporations

17/03/2020

Public loans

Non-financial corporations

Support in payments of loan interest for corporations

17/03/2020

Other measures of fiscal nature

Non-financial corporations

Recapitalization/purchase of subordinated bonds of SMEs and large NFCs.

17/03/2020

Direct grants

All non-financial sector

Co-financing of part of the employee remuneration costs and due social security contributions; Co-financing of business activities conducted by natural persons not hiring employees

17/03/2020

Tax reliefs

All sectors

Postponement of payment of social contributions and possible deferral, payment in installments, or cancellation of taxes;

17/03/2020

Tax reliefs

All sectors

Possibility of retroactive settlement of tax losses in PIT and CIT. Taxpayers will be able to deduct the loss incurred in 2020 under certain conditions from income earned in 2019. To this end, taxpayers will submit a proof of tax return for 2019 and receive a refund.

31/03/2020

Public guarantees

All sectors

Credit Guarantees and Guarantees for Factoring Transactions granted by BGK in accordance with the provisions of ‘’Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak’’. Guarantees could be granted up to the end of June 2022.

31/03/2020

Tax deferrals

N/A

Postponement of deadlines to June 1 for tax PIT remitters (employing enterprises) for transferring the tax advance payments and lump-sum income tax

31/03/2020

Tax reliefs

N/A

Increase of the limits for some benefits exempt from PIT

31/03/2020

Tax reliefs

N/A

Introduction of new tax exemptions in PIT for downtime benefit, food and accommodation of employees

31/03/2020

Tax reliefs

N/A

One-off depreciation in PIT and CIT
Companies/taxpayers that in 2020 will purchase the fixed assets which then will be used for the production of goods related to counteracting COVID-19 (i.e. protective masks, respirators, disinfectants, medical protective clothing, shoe protectors, gloves, glasses, goggles, hand hygiene products) will be able to include such costs in tax deductible costs as the one-off depreciation write-off.

31/03/2020

Tax reliefs

N/A

Using R&D tax relief during the tax year
Introducing the possibility for PIT and CIT taxpayers of using the R&D tax relief during the tax year at the stage of calculating the tax advances. This solution will be available for the taxpayers developing anti-COVID-19 products. Currently, the R&D tax relief is accounted for in the annual tax return.

31/03/2020

Tax reliefs

N/A

Using IP Box preference during the tax year
Introducing the possibility for PIT and CIT taxpayers of using the preferential 5% tax rate for incomes derived from qualified intellectual property rights (IP Box) during the tax year, already at the stage of paying tax advanced payments calculated during the tax year in relation to the incomes from qualified IP rights used to counteract the COVID-19. Currently, IP Box preference is accounted for in the annual tax return.

31/03/2020

Tax deferrals

N/A

Postponement of the deadline to pay tax on revenues on immovable properties.
Taxpayers PIT and CIT who meet certain conditions will be able to benefit from postponing the deadline for payment of tax on income from immovable properties(i.e. the minimum tax on commercial real estate) in March-May 2020 to July 2020.

31/03/2020

Tax reliefs

N/A

Excluding the application of regulations in income taxes regarding the so-called bad debts
The provisions on bad debts in PIT and CIT, under certain conditions, will not be applied to advance payments of debtors, who should take into account unpaid liabilities when calculating income tax advances. Thanks to this, the debtor will not have higher burdens and the creditor will benefit from the relief as it does today.

31/03/2020

Tax reliefs

N/A

Option to opt out of simplified advances in 2020 and to calculate monthly advances on current income
"Small taxpayers" PIT and CIT will be able to opt out of simplified advances. Taxpayers who opt out of simplified advances for the period March-December 2020 will calculate monthly advances on current income on general terms (they will pay lower advances, which will improve their liquidity).

31/03/2020

Tax deferrals

N/A

Postponed deadlines for annual CIT tax returns
1. The postponement of the deadline for filing the annual CIT tax return and tax payment for the taxpayers which tax year ends between December 1, 2019 and January 31, 2020. The deadline for such taxpayers will be postponed to May 31.

2. The postponement of the deadline for filing the annual CIT tax return and tax payment for taxpayers which tax year ends between December 1, 2019 and March 31, 2020 for non-governmental organizations and taxpayers achieving only tax-exempt income, as well as taxpayers operating in the public benefit sphere, if their revenues from this activity constitute at least 80% of all revenues. The deadline for such taxpayers will be postponed to July 31.

31/03/2020

Tax deferrals

N/A

Has been extended for CIT taxpayers:
• the deadline expiring in the period from March 31, 2020 to May 31, 2020 to be prepared and sent by legal persons, organizational units without legal personality and natural persons conducting business activity information referred to in art. 82 § 1 item 2 of the Tax Ordinance Act (ORD-U), up to the fifth month after the end of the tax year for which they are drawn up

• the deadline for sending by legal persons, organizational units without legal personality and natural persons who are entrepreneurs whose tax year ended in the period from December 31, 2019 to January 31, 2020, the information referred to in art. 26 section 3 point 2 of the CIT Act (IFT-2R), by the end of the fifth month of the year following the tax year in which the payments listed in art. 26 section 1 of this Act.

19/06/2020

Other measures of fiscal nature

All non-financial sector

Improvement of the financial liquidity of local government entities. A number of solutions have been introduced to local government units in combating the consequences of the spread of coronavirus through:
- introducing in 2020 the possibility of imbalance in the budget of regional government units additionally by the value of the planned income loss resulting from the occurrence of COVID-191;

- easing in 2020 a fiscal rule limiting debt by the amount of actual loss in the entity's tax income resulting from the COVID-19 epidemic. For 2021 and subsequent years, current expenses of the regional government units' budget are reduced by current expenses incurred in 2020 to implement tasks related to counteracting COVID-19. At the end of the financial year 2020, the total amount of debt of a regional government unit may not exceed 80% of the total income of that unit in that financial year;
- possibility of postponing payments to the state budget made by entities with above average tax revenues to subsequent months - payment of installments falling in May and June 2020 will be able in the second half of 2020;
- increasing the income of the Poviat self-government units due to the management of State Treasury real estate from 25% to 50% of inflows in the period from May 1 to December 31, 2020.

14/05/2020

Tax reliefs

Households

Benefits received under the COVID-19 Act by farmers and their family members (domestic residents) subject to compulsory quarantine, epidemiological surveillance or hospitalisation in connection with COVID-19 are also exempt from PIT.

16/04/2020

Public loans

All sectors

State Treasury Guarantees granted by law to cover the repayment of bonds issed by the Polish Developmnet Fund to finance the goverment programme "Financial shield for enterprices", which suffered from Covid-19

31/03/2020

Public guarantees

Other

State Treasury Guarantees granted by law to cover the repayment of bonds issed by the BGK to finance the expenditures of Covid-19 Fund established in BGK.

31/03/2020

Other measures of fiscal nature

All sectors

Suspension of the deadline to submit MDR information.
Time periods for submitting MDR information do not start running (and those that started to run are suspended) from 31 March 2020 until the 30 days after the date of cancellation of epidemic threat and the state of epidemic, however in relation to domestic MDR only, deadline for submitting cross-border MDR was prolonged till 30 June 2020. Legislative works are in progress in order to empower Minister of Finance to prolong deadlines for submitting cross-border MDR information as well.

19/06/2020

Other measures of fiscal nature

All sectors

During the period of pandemic due to COVID-19, as well as during the next 2 months after its cancellation, the place of residence and registered office of the taxpayer for tax purposes may be confirmed by a copy of the residence certificate, if the information resulting from the submitted copy of the certificate residences do not raise justified doubts concerning the facts.

31/03/2020

Tax deferrals

Other

Postpone the entry into force of the Act on retail tax

31/03/2020

Tax reliefs

Other

Introducing the possibility of exemptions from the real property tax for a group of entrepreneurs whose financial liquidity has deteriorated due to incurring negative economic consequences due to COVID-19.

31/03/2020

Tax deferrals

Other

Introducing the possibility to postpone the payments of real poprety tax for a group of entrepreneurs whose financial liquidity has deteriorated due to incurring negative economic consequences due to COVID-19.

19/06/2020

Tax reliefs

Other

Tax exemption granted to certain natural persons receiving a donation useful in counteracting the effects of the COVID-19

17/04/2020

Tax reliefs

Other

Introducing the possibility of exemptions from the real property tax for the public benefit organizations or other non-profit organizations whose financial liquidity has deteriorated due to incurring negative economic consequences due to COVID-19.

17/04/2020

Tax deferrals

Other

Introducing the possibility to postpone the payments of real poprety tax for the public benefit organizations or other non-profit organizations whose financial liquidity has deteriorated due to incurring negative economic consequences due to COVID-19.

13/11/2020

Tax deferrals

All non-financial sector

Granting tax reliefs on the basis of art. 67a of the Tax Ordinance Act constitute public aid aimed at remedying serious disturbances in the economy.

N/A

Private moratoria

All non-financial sector

Individual clients, micro and small entrepreneurs:
1.Postponement of repayment of principal or principal and interest installments: for a period of up to 6 months as specified by the client (regardless of the number of applications submitted by a given client).

2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 30 September 2020: renewal for a period of up to 6 months.
3. Leasing products: the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client). Factoring product: the repayment due from the client is postponed for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client).
Medium entrepreneurs:
1. Postponement of repayment of principal or principal and interest installments in accordance with client’s application for a period of up to – respectively - 6 months (principal installments) and 3 months (principal and interest installments) as specified by the client, regardless of the number of applications submitted by a given client.
2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 30 September 2020, may be renewed in a simplified mode in agreement with the client for a period of up to 6 months, there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts for the duration of the assistance tool.
3. In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client). In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client).
Large entrepreneurs:
1. Postponement of repayment of principal installments in accordance with client’s application for a period of up to 6 months as specified by the client (regardless of the number of applications submitted by a given client).
2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 30 September 2020, may be renewed in a simplified mode in agreement with the client for a period of up to 6 months, there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts for the duration of the assistance tool.
3. In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client). In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client).

19/06/2020

Public moratoria

Households

The performance of the agreement is suspended as of the date of delivery of the application to the creditor, for the period specified by the borrower in the application, not longer than 3 months.
During the suspension period, the borrower is not obliged to make payments under the agreement, except for insurance premiums related to the agreements whose performance is suspended. The suspension period is not treated as the financing period. The financing period and all deadlines stipulated in the agreement are extended by the suspension period. During the suspension period, no interest or fees are charged, other than insurance premiums related to the agreements whose performance is suspended.


Filing an application with the bank results in an immediate ex lege expiry of any suspension granted by the creditor on grounds other than the abovementioned Act of 19th June 2020.

18/01/2021

Private moratoria

All non-financial sector

Individual clients, micro and small entrepreneurs:
1.Postponement of repayment of principal or principal and interest installments in an automatic or simplified mode in accordance with client’s application for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium) as specified by the client, regardless of the number of applications submitted by a given client. 2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 31 March 2021, may be renewed in a simplified mode in agreement with the client for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium), there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts, for the duration of the assistance tool. 3.Banks will not charge fees or commissions for accepting and processing applications concerning the suspension of the repayment of principal or principal and interest installments. 4. In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client. In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client.


Medium entrepreneurs:
1. Postponement of repayment of principal or principal and interest installments in accordance with client’s application for a period of up to – respectively - 3 months (6 months for clients who have not yet benefited from the initial moratorium) (principal installments) and 3 months (principal and interest installments) as specified by the client, regardless of the number of applications submitted by a given client.
2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 31 March 2021, may be renewed in a simplified mode in agreement with the client for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium), there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts for the duration of the assistance tool.
3. In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client. In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client.

Large entrepreneurs:
1. Postponement of repayment of principal installments in accordance with client’s application for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium) as specified by the client, regardless of the number of applications submitted by a given client. 2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 31 March 2021, may be renewed in a simplified mode in agreement with the client for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium), there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts for the duration of the assistance tool.
3.In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client. In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client.

09/12/2020

Direct grants

Non-financial corporations

Grant of up to PLN 5 ths for micro- and small corporations

19/01/2021

Direct grants

Non-financial corporations

Grant of up to PLN 5 ths for micro- and small corporations

16/12/2020

Tax reliefs

All non-financial sector

Suspension of collecting the market place charge

16/04/2021

Public guarantees

All sectors

Lease and loans guarantees with counter-guarantees from the European Investment Fund and granted from the Pan-European Guarantee Fund (PFG). The fund aims to protect the EU economy from the effects of the COVID-19 epidemic.

01/07/2021

Direct grants

Non-financial corporations

Grant of up to PLN 5 ths for micro- and small corporations

20/12/2021

Direct grants

Non-financial corporations

Grant of up to PLN 5 ths for micro- and small corporations

18/03/2020

SyRB

Banking sector

Release of the previously applicable 3% Systemic Risk Buffer

26/03/2020

Other measure

Banking sector

Retention of all profit generated in previous years by banks and insurance companies

18/03/2020

Other measure

Non-financial corporations

PFSA has prepared a proposal of a regulation allowing banks to extend the maturity/restructure the working capital loans to the existing SME/micro enterprises, on the basis of previously made creditworthiness assessment

18/03/2020

Special provisioning policy

Banking sector

Measures in the areas of provisions and classification of credit exposures

18/03/2020

Other measure

Banking sector

Measures in the area of capital buffers: the PFSA takes into account that banks may operate without a fulfillment of a combined buffer requirement. PFSA may consider, in the future, the possibility to use/decrease the O-SII buffer, and allows to fulfill the add-on Pillar 2 requirement in a lesser extent by Tier 1 (CET1) equity

18/03/2020

Reporting requirements

Banking sector

Postponement of the introduction of some supervisory actions, such as limiting the number of inspections

18/03/2020

Other measure

Fund industry

Flexibility in addressing the breaches of investment limits by investment funds

20/03/2020

Reporting requirements

Insurance sector

Supervisory flexibility regarding the dates of supervisory reporting and public disclosure.

20/03/2020

Other measure

Insurance sector

Recommendation to desist from the requirement to apply the maximum technical interest rate

20/03/2020

Other measure

Insurance sector

Application of the proportionality principle in the supervision of the SCR

20/03/2020

Other measure

Insurance sector

Postponement of the introduction of some supervisory actions, such as SREP, stress
tests, product intervention measures

20/03/2020

Other measure

Insurance sector

Suspension of new inspections at insurance undertakings and distributors

20/03/2020

Other measure

Fund industry

Postponement of some supervisory actions, such as limiting the number of inspections

20/03/2020

Reporting requirements

Securities and markets

Reducing current reporting requirements

20/03/2020

Reporting requirements

Non-financial corporations

Reducing current reporting requirements

20/03/2020

Other measure

Securities and markets

Postponement of some supervisory actions, such as limiting the number of inspections

20/03/2020

Other measure

Securities and markets

Pragmatic approach to the postponement of various supervisory deadlines, e.g. the deadlines for the implementation of post-inspection recommendations, also in relation to the initial deadlines;

20/03/2020

Reporting requirements

Non-financial corporations

Postponement of reporting dates

21/03/2020

Other measure

Fund industry

Pragmatic approach to the postponement of various supervisory deadlines, e.g. the deadlines for the implementation of post-inspection recommendations, also in relation to the initial deadlines;

26/03/2020

Other measure

Insurance sector

Retention of all profit generated in previous years by banks and insurance companies

26/03/2020

Other measure

Banking sector

Shifting the date of binding MREL targets form January 1, 2023 to January 1, 2024. First binding interim MREL target should be fulfilled by banks at the beginning of 2022.

27/03/2020

Other measure

Pension funds

Postponement and adjustment of some supervisory actions, such as on-site inspections

27/03/2020

Supervisory expectations

Pension funds

Pragmatic approach to the some supervisory deadlines

27/03/2020

Other measure

Pension funds

Individual approach to the cases of exceeding investment limits by pension

28/04/2020

Other measure

Banking sector

Resolution scheme for cooperative banks and small commercial banks

31/03/2020

Borrower-based measure

Banking sector

Measures to ensure continuation of banks' financing for corporate clients, i.a. approval by the PFSA of steps taken by banks in favour of these clients, such as: acceptance by banks of terms of financing which were in force before the COVID-19 pandemic, prolongation of the duration of the credit, continuity of financing for corporate clients despite temporary liquidity risk due to the pandemic, renewal of financing on terms being in force before 31 December 2019, discharge of borrowers from the obligation to provide special collateral or acknowledgement of state guarantees as such collateral for 80% of the credit. Apart from that, the PFSA will defer implementation of the 'Recommendation S' concerning mortgages and the 'Recommendation R' concerning impaired exposures and impairment losses, and will present solutions proposed by Polish banks to the EBA.

31/03/2020

Borrower-based measure

Banking sector

Measures to ensure continuation of banks' financing for corporate clients, i.a. approval by the PFSA of steps taken by banks in favour of these clients, such as: acceptance by banks of terms of financing which were in force before the COVID-19 pandemic, prolongation of the duration of the credit, continuity of financing for corporate clients despite temporary liquidity risk due to the pandemic, renewal of financing on terms being in force before 31 December 2019, discharge of borrowers from the obligation to provide special collateral or acknowledgement of state guarantees as such collateral for 80% of the credit. Apart from that, the PFSA will defer implementation of the 'Recommendation S' concerning mortgages and the 'Recommendation R' concerning impaired exposures and impairment losses, and will present solutions proposed by Polish banks to the EBA.

07/04/2020

Reporting requirements

Other

Postponement of reporting dates

Reporting requirements

Pension funds

Extension of reporting deadlines for pension funds. The entities have two more months than originally scheduled to report their annual financial reports.

08/04/2020

Asset purchase programme

Banking sector

Government-guaranteed debt securities purchase on the secondary market

16/03/2020

Asset purchase programme

All sectors

Treasury bond purchases in the secondary market

16/03/2020

Other measure

Banking sector

reduction of required reserve ratio from 3.5 to 0.5 percent

16/03/2020

Credit facilities

Non-financial corporations

NBP will offer bill discount credit

02/04/2020

Other measure

All financial sectors

Postponement of some supervisory actions, such as suspension the deadline for adoption an administrative decision

07/04/2020

Other measure

All financial sectors

Postponement of certain reporting and information obligations

13/03/2020

Other measure

Pension funds

Postponement of the pension fund reform (transformation of Open Pension Funds into Specialized Open End Investment Funds)

17/03/2020

Other measure

Non-financial corporations

Refinancing of leases of transport companies

17/03/2020

Other measure

Non-financial corporations

Additional funds for hospital equipment and supplies;

17/03/2020

Other labour market measure

Households

An allowance for parents for school closures

18/04/2020

Other measure

Securities and markets

Subscription for shares by way of electronic means of communication

18/04/2020

Other measure

Other

Allowing for remote participation in the bondholders meeting by way of electronic means of communication

18/04/2020

Other measure

Fund industry

Allowing for remote participation in meetings of different bodies of investment funds by way of electronic means of communication

31/03/2020

Other measure

All non-financial sector

Changing (extending) the adoption of the phase II of Employee Capital Plan introduction in the sector of companies employing more than 50 employees

31/03/2020

Other measure

All financial sectors

Extension of deadlines for: 1. closing the accounting books, 2. preparing the trial balances of general ledger accounts, 3. completing the stocktaking of assets, 4. preparing the financial statements and consolidated financial statements, 5. preparing the management report and the consolidated management report, 6. approving the financial statements and consolidated financial statements, 7. preparing the report on payments to governments and the consolidated report on payments to governments and 8. posting the separate report on non-financial information and separate consolidated report on non-financial information on the entity's website. The extension period is generally 3 months, except for entities supervised by the Polish Financial Supervision Commission - for which the extension period is 2 months.

31/03/2020

Other measure

Introducing the possibility for PIT and CIT taxpayers of deduction from the tax base (in order to calculating the tax or tax advances) the amounts of donations (in cash or in kind) made from January 1, 2020 to September 30, 2020 for purposes related to counteracting COVID-19 for entities providing health care, as well as transferred to the Material Reserves Agency and the Central Base of Sanitary and Anti-epidemic Reserves.

31/03/2020

Other measure

All non-financial sector

Extension of the deadline to prepare annual financial statements for 2019 by 2 months (until June 30, 2020) and quartlerly financial statements for the first quarter of 2020 by 60 days (until July 29, 2020)

Other measure

Other

The establishment of a public infrastructure investment fund.

19/06/2020

Lending standards

All sectors

Changes for individiual laon holders, especially foreign currency mortgages, but also for consumers who lost their jobs or other main source of income after 13 March 2020. Possibility to suspend payments. The lender may not charge any other fees, except for cash benefits that arise from the borrower's insurance associated with the loan agreement. The maximum suspension period for the performance of the contract will be 3 months. The loan period, as well as all the periods provided for in the loan agreement, will be extended accordingly by the suspension period.

19/06/2020

Lending standards

All sectors

Companies in financial difficulties caused by the coronavirus will be able to receive interest on the loans received to rescue the company. Small and medium-sized enterprises will receive a surcharge of 2 pp and large enterprises of 1 pp. Credit agreements may be concluded until 31 December 2020.

19/06/2020

Other labour market measure

Households

Extension of the period for parents to receive a care allowance until 28 June 2020 (with effect from 25 May)

14/05/2020

Lending standards

All sectors

Increased protection of individual consumers against usurious interest. The law provides a penalty for anyone who, in return for a financial benefit granted to an individual resulting, among others, from a loan agreement, demands:
- payment of additional costs twice as high as the maximum or

- payment of interest at a rate twice as high as the maximum.

14/05/2020

Tax reliefs (w/o fin. stab. relevance)

All non-financial sector

Covering streaming platforms with a fee to the Polish Film Institute. The fee will amount to 1.5% of the revenue generated:
- fees for access to audiovisual on-demand media services made available to the public, or

- revenue obtained from broadcasting commercial communications.

19/06/2020

Buffer usability

Households

Solidarity allowance for people who lost their source of income after March 15, 2020. Solidarity allowance is payable in the amount of PLN 1,400 per calendar month, for a maximum period from June 1, 2020 to August 31, 2020.

19/06/2020

Tourism sector measure

Households

Polish Tourist Voucher was introduced for each child in order to pay for hotel services or tourist events carried out by a tourist entrepreneur or a public benefit organization on the territory of the Republic of Poland. A child is entitled to a voucher of PLN 500, and for a disabled child a benefit of PLN 500 and one additional voucher of the same amount. The voucher can be used until March 31, 2022.

19/06/2020

Other measure

Non-financial corporations

Exemption from a part of the annual fee for 2020 for perpetual usufruct of entrepreneurs who experienced a decline in economic turnover following the COVID-19.

19/06/2020

Redemption gate

Non-financial corporations

For the duration of the circumstances related to the occurrence of the COVID-19, the option of temporarily suspending the performance of the offset agreement has been introduced.

19/06/2020

Trading curbs

Non-financial corporations

Deposit obligations in proceedings with an estimated value above the EU thresholds were lifted, which is to increase the number of bids in tenders, and thus their competitiveness.

19/06/2020

Other measure

All sectors

A temporary (for a period of 24 months) comprehensive control framework has been introduced that aims to protect the certain domestic companies from acquisition by foreign companies. The protection will be granted to entities whose revenue from sales and services on the territory of the Republic of Poland, in any of the two financial years preceeding the notification, exceeded the equivalent of EUR 10 million.

25/04/2020

Other measure

All non-financial sector

Extension of the deadlines to prepare statements of fulfilling the obligation by residents involved in foreign exchange and entrepreneurs performing bureau de change activities (data is provided to the National Bank of Poland for the compilation of the balance of payments and the international investment position)

04/05/2020

Other measure

All sectors

Issuance of a communication on the preparation and audit of financial statements during the COVID-19 pandemic. The communication contains some practical guidelines, addressing such issues as going concern or events after the reporting period, which may support entities in their obligation to ensure that the financial statements present true and fair view.

04/05/2020

Other measure

All non-financial sector

Creation of a dedicated webpage containing frequently asked questions and answers relating to the preparation of financial statements during the pandemic as well as to recording in the accounting books of the support measures envisaged in the Anti-crisis shield which the entities made use of.

23/06/2020

Other measure

All sectors

(1) extension of the validity of certificates of residence which would expire at the time of the epidemic,
(2) the possibility of confirming the tax residency by a copy of the certificate of residence,

(3) the possibility of submitting a statement that the data contained in the certificate of residence covering 2019 (possessed by the payer) is up-to-date. (1) the possibility of confirming the place of residence/establishment by a copy of the certificate of residence from 1.01.2022 as a rule in PIT and CIT Acts (http://isap.sejm.gov.pl/isap.nsf/DocDetails.xsp?id=WDU20210002105(adoption date: 23.11.2021; implementation date: 01.01.2022)

31/03/2020

Other measure

Other

Suspension of collection of extension fee.
This charge currently amounts to 4% of the tax amount or tax arrears. Exemption from the obligation to pay it will remain in force during the period of epidemic emergency or in the period of 30 days immediately following its cancellation.

31/03/2020

Other measure

Other

Refraining from charging interest due for default on tax arrears.
The Minister of Finance may, by regulation, waive either in full or in part the collection of interest for late payment of tax arrears, specifying the type of the tax, the territorial scope of the waiver, the period of the waiver and the groups of taxpayers included in waiver during the period of state of epidemic emergency or state of epidemic related to COVID-19.

15/05/2020

Other measure

Other

Refraining from charging interest due to the solidarity levy unpaid in the payment date.
The Minister of Finance may, by regulation, waive either in full or in part the collection of interest for the solidarity levy unpaid in a payment date, specifying the territorial scope of the waiver, the period of the waiver and the groups of taxpayers included in waiver during the period of state of epidemic emergency or state of epidemic related to COVID-19.

19/06/2020

Other measure

All sectors

Exemption from minimum income tax (both in CIT and PIT) from revenues on buildings determined from 1 March 2020 to 31 December 2020 ption from special minimum income tax (both in CIT and PIT) for revenues from rent of commercial real estates.

19/06/2020

Other measure

All sectors

Possibility of including in tax costs (both in CIT and PIT) of contractual penalties and compensations paid if defects arise in connection with the COVID-19 pandemic.

19/06/2020

Other measure

All sectors

Changes (both in CIT and PIT) in provisions concerning payment backlogs:
- Creditor that bears negative consequences of COVID-19 pandemic will be entitled to deduct from income (used in calculation of tax advances or lump sum tax) unsettled debts after 30 days from payment deadline.

- Creditor that bears negative consequences of COVID-19 pandemic and pays simplified tax advances in 2020 will be entitled to reduce them by part of unsettled debts.

19/06/2020

Other measure

All sectors

Suspension of obligation to report by taxpayers taxed in accordance with so called tax card (simplified PIT) to tax authorities about interruptions in conducting business if such interruptions are caused by prohibition imposed by the authorities because of COVID-19 pandemic. As a consequence, taxpayers are not obliged to pay income tax for such period

19/06/2020

Other measure

All sectors

Changes in provisions concerning donations for counter effects of Covid-19 pandemic. Possibility of deduction from tax base has been extended by donations among others for houses for mothers with underage children and pregnant women, night shelters and shelters for homeless as well as donations of laptops and tablets.

19/06/2020

Other measure

All sectors

Possibility of inclusion in tax costs spending on production or purchase of goods or rights donated from 1 January 2020 to 30 September 2020 for counter the effects of Covid-19 pandemic.

19/06/2020

Other measure

All sectors

Exclusion from taxable revenues (both in CIT and PIT) donations for counter the effects of Covid-19 pandemic received from 1 January to 30 September 2020 by certain entities (among others educational institutions, treatment facilities, homes for mothers with underage children and pregnant women, night shelters, shelters for the homeless).

19/06/2020

Other measure

All sectors

Exclusion from taxable revenues (both in CIT and PIT) subsidies to bank loans received by entrepreneurs affected by COVID-19 pandemic.

01/06/2020

Other measure

All sectors

Payment deadline has been extended for payments (tax advances and flat tax) collected by tax remitters. The payments collected:
- in March should be paid by 20 August 2020,

- in April should be paid by 20 October 2020,
- in May should be paid by 20 December 2020.

13/03/2020

Private moratoria (w/o fin. stab. relevance)

All non-financial sector

1.Postponement of repayment of principal or principal and interest installments: for a period of up to 6 months as specified by the client (regardless of the number of applications submitted by a given client).
2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 30 September 2020: renewal for a period of up to 6 months.

3. Leasing products: the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client). Factoring product: the repayment due from the client is postponed for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client).

13/03/2020

Private moratoria (w/o fin. stab. relevance)

All non-financial sector

1. Postponement of repayment of principal or principal and interest installments: respectively - 6 months (principal installments) and 3 months (principal and interest installments) as specified by the client, regardless of the number of applications submitted by a given client.
2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 30 September 2020: renewal for a period of up to 6 months.

3. Leasing products: the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client). Factoring product: the repayment due from the client is postponed for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client).

13/03/2020

Private moratoria (w/o fin. stab. relevance)

All non-financial sector

1. Postponement of repayment of principal installments in accordance with client’s application for a period of up to 6 months as specified by the client (regardless of the number of applications submitted by a given client).
2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 30 September 2020, may be renewed in a simplified mode in agreement with the client for a period of up to 6 months, there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts for the duration of the assistance tool.

3. In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client). In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 6 months (regardless of the number of applications submitted by a given client).

24/06/2020

Public moratoria (w/o fin. stab. relevance)

All non-financial sector

The performance of the agreement is suspended as of the date of delivery of the application to the creditor, for the period specified by the borrower in the application, not longer than 3 months.
During the suspension period, the borrower is not obliged to make payments under the agreement, except for insurance premiums related to the agreements whose performance is suspended. The suspension period is not treated as the financing period. The financing period and all deadlines stipulated in the agreement are extended by the suspension period. During the suspension period, no interest or fees are charged, other than insurance premiums related to the agreements whose performance is suspended.


Filing an application with the bank results in an immediate ex lege expiry of any suspension granted by the creditor on grounds other than the abovementioned Act of 19th June 2020.

18/01/2021

Public moratoria (w/o fin. stab. relevance)

All non-financial sector

The moratorium contains an offer for micro and small entrepreneurs as regards: loan products (including revolving products), leasing products and factoring products. Criteria (to be met cumulatively): - entrepreneurs entitled to benefits from the ""Tarcza Finansowa PFR 2.0"" (""PFR Financial Shield 2.0"", a support programme run by the Polish Development Fund - PFR), with extension to entrepreneurs whose activity consists in leasing space in commercial or service facilities, including commercial parks, with sales or service surface exceeding 2000 m2, and
- the delay in repayment of the principal or interest does not exceed 30 days as at 29 February 2020 or as at the date of submission of the application by the client.

1.Postponement of repayment of principal or principal and interest installments in an automatic or simplified mode in accordance with client’s application for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium) as specified by the client, regardless of the number of applications submitted by a given client. 2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 31 March 2021, may be renewed in a simplified mode in agreement with the client for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium), there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts, for the duration of the assistance tool. 3.Banks will not charge fees or commissions for accepting and processing applications concerning the suspension of the repayment of principal or principal and interest installments. 4. In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client. In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client.

18/01/2021

Public moratoria (w/o fin. stab. relevance)

All non-financial sector

The moratorium contains an offer for medium entrepreneurs as regards: loan products (including revolving products), leasing products and factoring products.
Criteria (to be met cumulatively): - entrepreneurs entitled to benefits from the "Tarcza Finansowa PFR 2.0" ("PFR Financial Shield 2.0", a support programme run by the Polish Development Fund - PFR), with extension to entrepreneurs whose activity consists in leasing space in commercial or service facilities, including commercial parks, with sales or service surface exceeding 2000 m2, and - being creditworthy at the end of year 2019 (provided that the creditworthiness assessment is not carried out at the date of submission of the application by the client) and the temporary worsening of borrower’s situation due to the coronavirus SARS-CoV-2 pandemic and as of the date of submission of the application by the client, no application for bankruptcy or restructuring proceedings has been filed against him and no liquidation of the company has been opened, and no enforcement proceedings are pending.

1. Postponement of repayment of principal or principal and interest installments in accordance with client’s application for a period of up to – respectively - 3 months (6 months for clients who have not yet benefited from the initial moratorium) (principal installments) and 3 months (principal and interest installments) as specified by the client, regardless of the number of applications submitted by a given client.
2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 31 March 2021, may be renewed in a simplified mode in agreement with the client for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium), there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts for the duration of the assistance tool.
3. In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client. In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client.

18/01/2021

Public moratoria (w/o fin. stab. relevance)

All non-financial sector

The moratorium contains an offer for large entrepreneurs as regards: loan products (including revolving products), leasing products and factoring products.
Criteria (to be met cumulatively): - entrepreneurs entitled to benefits from the "Tarcza Finansowa PFR 2.0" ("PFR Financial Shield 2.0", a support programme run by the Polish Development Fund - PFR), with extension to entrepreneurs whose activity consists in leasing space in commercial or service facilities, including commercial parks, with sales or service surface exceeding 2000 m2, and - being creditworthy at the end of year 2019 (provided that the creditworthiness assessment is not carried out at the date of submission of the application by the client) and the temporary worsening of borrower’s situation due to the coronavirus SARS-CoV-2 pandemic and as of the date of submission of the application by the client, no application for bankruptcy or restructuring proceedings has been filed against him and no liquidation of the company has been opened, and no enforcement proceedings are pending.

1. Postponement of repayment of principal installments in accordance with client’s application for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium) as specified by the client, regardless of the number of applications submitted by a given client. 2. Revolving products (overdrafts, credit cards) which do not meet the standard conditions for renewal until 31 March 2021, may be renewed in a simplified mode in agreement with the client for a period of up to 3 months (6 months for clients who have not yet benefited from the initial moratorium), there is a possibility to additionally secure transactions, including with assistance tools offered under dedicated acts for the duration of the assistance tool.
3.In the case of leasing products, the repayment of the leasing installment (principal part) is postponed or reduced for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client. In the case of a factoring product, the repayment due from the client is postponed for an agreed period, which is maximum 3 months (6 months for clients who have not yet benefited from the initial moratorium), regardless of the number of applications submitted by a given client.

28/11/2020

Other measure

All non-financial sector

Extending the terms of some solutions introduced, the so-called Anti-crisis shields supporting taxpayers in the area of ​​ PIT and CIT in connection with the ongoing COVID-19 epidemic

19/11/2020

Other measure

All non-financial sector

For some Personal income tax payers have been granted the extention for submitting to the tax office, the collected in October, November and December 2020, tax advances and lump-sum income tax on remuneration from work, mandate contracts and as well as on copyright and related rights.

17/02/2021

Other measure

Banking sector

Total amounts of contributions to be paid by institutions in 2021 to:
- guarantee fund of banks,

- resolution fund of banks,
- guarantee fund of credit unions,
were set at lower levels than in 2020.

26/03/2021

Other measure

All non-financial sector

Extension of deadlines for: 1. closing the accounting books, 2. preparing the trial balances of general ledger accounts, 3. completing the stocktaking of assets, 4. preparing the financial statements 5. approving the financial statements. The extension period is generally 3 months.
The extension period don't apply to the entities supervised by the Polish Financial Supervision Commission.