Annual PIT return is an obligation that falls on the shoulders of taxpayers in Poland every year. Contrary to appearances, this process does not have to be complicated. With proper preparation and the use of available tools, it can be carried out smoothly and without problems. We provide you with a short guide to help you correctly file your tax return for the past year.
First - meticulously collect all the necessary documents
Before proceeding filing of PIT returns, make sure you have all the necessary documents with you. These will include:
- PIT-11, which you will receive from your employer,
- PIT-8C if you invested in the stock market,
- PIT-40A if you benefit from PPK,
- Confirmation of contributions to IKZE (pension deduction) or child tax credit.
Second - choose the right form
Depending on your source of income, you will need to choose the appropriate PIT form. PIT-37 is the form submitted by employees, contractors and persons for whom advance tax payments are calculated and collected by the payer (employer or principal). Taxpayers who do not settle through a payer or who receive income from a number of different sources - including some without the intermediation of a payer - settle on the PIT-36 form.
Thirdly - when making your annual PIT return, use e-PIT services
e-PIT platform managed by the Ministry of Finance, allows you to easily and quickly submit your tax return online. Thanks to this solution, much of the data in your return will be pre-filled automatically, which significantly facilitates the entire process. To use e-PIT, all you need to do is log in to your profile at podatki.gov.pl. The National Tax Administration (KAS) completes the annual PIT return the taxpayer and then makes it available for inspection and possible amendment.
Fourth - don't forget about tax credits
It is worth remembering to take advantage of tax reliefs that can reduce the amount of tax due. The most popular reliefs include child tax credit, the rehabilitation allowance and the internet allowance. Other examples include relief for thermo-modernisation and various donations: for educational purposes for schools, for street charities, for church purposes. Some reliefs are deducted from income, others from tax. You can find detailed information on the available reliefs on the website of the Ministry of Finance. In the case of business activity, the possibility of taking advantage of the relief depends on the form of taxation used by the taxpayer. For example, you may not be able to take advantage of certain deductions if your tax return is based on a flat tax.
Fifth - keep an eye on deadlines and settle up on time
Remember that the annual settlement PIT for 2023 must be filed by 30 April 2024. A delay in filing the return may incur a penalty from the tax office, so it must be done by the official deadline.
Other important information - tax refund or underpayment
If, after settlement, you find that you are entitled to tax return, the tax office should transfer the money due to the bank account indicated by you within 45 days of submitting the return. In certain situations, the taxpayer must pay the underpayment. The payment must be made by 30 April to an individual micro-account. This can be done using the e-PIT service or the e-Tax Office.
Annual PIT return does not have to be a difficult task. The key to success is proper preparation and use of the tools available, such as e-PIT system. Being mindful of deadlines and possible tax reliefs. If you want to avoid the stress and commitment of your time, AMG Accounting Office can be very helpful!
