From 1 January 2017, the cash payment limit between
entrepreneurs in Poland will change.
Entrepreneurs will be obliged to settle liabilities related to
their business activities through a payment account whenever the
value of a single transaction exceeds the limit of 15,000 Polish
zloty; regardless of the number of payments. The current limit is
The new regulation also applies to transactions in foreign
currencies which, for the purposes of limit calculation, will be
converted into Polish zloty using the average exchange rate
announced by the National Bank of Poland on the last business day
preceding the day of the transaction (art. 22 of Freedom of
Business Activity Act).
According to the current regulations, there are no penalties for
violating the limit in domestic transactions. Where the
transactions are in foreign currencies or involve non-residents,
there is a risk of a breach of the foreign exchange law, which
involves the penal and fiscal liability (Art. 106J Penal &
The amendment of the Act introduced – also effective 1
January 2017 – a sanction for violation of the obligation to
make payments through a payment account. Under the new regime,
taxpayers making payments exceeding the limit of PLN 15,000 without
the use of a payment account will not be entitled to recognise the
incurred cash expense as a tax deductible cost (Art. 22p Income
Personal Income Tax, Article 15d of Corporate Income Tax).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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