Prepare for the new TPR with Crido
All GBS/SSC companies were obliged to prepare the Transfer Pricing documentation till the end of October 2023. Subsequently, there is still the obligation to prepare and submit TPR-C forms till the end of November (even though the Ministry of Finance is considering to prolong this deadline to the end of February, majority of organizations plan to fulfill this duty as soon as possible).
Submission of TPR forms is an important responsibility for all GBS/SSC Companies operating in Poland and the forms have to be signed by a designated Board Member or in some cases it may be a designated proxy. Since this year the submission and signing procedure will be more complicated than in the past as it has to be done manually on the web application of Ministry of Finance or an xml file has to be sent to the Ministry of Finance (there is no interactive PDF form provided). This causes that for organizations having many intercompany transactions or large number of entities to be reported, the process will be more time consuming and there is a higher risk of errors (accuracy or formats of data). Failure to submit or submission of information inconsistent with TP documentation or the actual state may be subject to sanctions up to 720 daily rates (max. PLN 34,560,000) and late filing is subject to penalties up to 240 daily rates (max. PLN 11,520,000).
In order to make the process easy and controllable, Crido, which was rewarded with the title of Technology Firm of the Year by International Tax Review in 2023, has prepared a tool supporting the process of preparation and submission of TPR-C forms. Key functionalities of the tool are here.