The Sejm is working on draft legislation which is to increase the limit of revenues of “small entrepreneurs” from EUR 800,000 to EUR 1.2 million. That way, the revenue limits of “small entrepreneurs” specified in the income acts and in the act on VAT will be the same.

Moreover, the draft is to increase the amount of one-time amortization of fixed assets specified in the groups from three through eight of the Classification (except for personal cars). The change will be applicable in 2009-2010 when small taxpayers and taxpayers commencing their economic activity in that period will have a right to classify investment expenditures up to EUR 100,000 as taxable costs subject to amortization with one-time write-off.

Contact person: Mirosław Bik,

mb@pnplaw.pl