The president of the Republic of Poland signed a key law on Friday, which importantly simplifies procedures related to the sale of assets obtained in inheritance or donation from the nearest family. This is simply a breakthrough change that eliminates 1 of the most burdensome elements of bureaucracy – the request to supply the notary with a peculiar certificate from the taxation office confirming the payment of the taxation or exemption from it. The fresh government aims to velocity up and facilitate citizens' ownership of inherited or donated assets specified as housing, land or another assets. The changes will enter into force soon, due to the fact that 14 days after the publication of the Act in the diary of Laws, which means real savings of time and nerves for thousands of Poles.
No more bureaucratic message – what changes?
The practice so far required persons who received wealth in inheritance or donation and wanted to sale it, to present a certificate from the taxation office to the notary. This paper confirmed that the purchaser had paid or been exempt from the inheritance and donation taxation due. This has frequently been a origin of delays and additional formalities. With the fresh law, in the case of property from the immediate family, this work will be abolished. This means that the process of selling real property or another assets will be crucial faster and little complicated. This amendment is intended to straight reduce the administrative burden on citizens.
Who precisely are the fresh simplified rules?
Simplifications concern inheritances and donations received from immediate family. We are talking about people who belong to the alleged zero taxation group, i.e. spouses, descendents (children, grandchildren), preliminary (parents, grandparents), stepchildren, siblings, stepfathers and stepmothers. It is these people who most frequently benefit from a full inheritance and donation taxation exemption, provided that the acquisition of the property is notified to the taxation office in due time. The fresh regulations are peculiarly beneficial for those who plan to sale their inherited home to their parents or donated land from their grandparents. However, it is crucial to remember the basic work – prior notification of inheritance or donation to the competent taxation office.
What do you gotta do to usage simplification? Time limits and obligations
In order to make usage of the fresh simplified rules and avoid the request to present a certificate from the taxation office, it is essential to complete the formalities relating to the acquisition of the inheritance or donation itself in advance. The buyer must report receipt of inheritance or donation to the taxation office time 6 months from the date of the taxation obligation. In the case of succession, that time limit shall most frequently apply from the date on which the decision of the court declaring the acquisition of the succession was final. Failure to comply with this work in time results in the failure of the right to taxation exemption and return to old, more complicated procedures. The Act will become effective 14 days after its publication in the diary of Laws, so it is worth reading the fresh regulations now.
Facilitation of the settlement of pensions and another cyclical benefits
The fresh law besides introduces crucial simplifications in the settlement of cash benefits paid in the form of pensions. Until now, people receiving pensions had to submit a taxation return all month, which generated repetitive and time-consuming formalities. erstwhile the fresh government enters into force, it is adequate that the taxation return is filed single, at the very beginning of payment of the benefit. This is another crucial change, which aims to reduce bureaucracy and make life easier for beneficiaries of regular benefits, providing them with greater comfort and time savings.
Practical benefits for beneficiaries of inheritances and donations
The changes introduced are a real consequence to the needs of citizens and a signal towards simplification of the Polish legal system. The main benefits are: significant time reduction essential for the finalisation of the sale of inherited or donated assets, stress reduction related to the collection of additional papers and reduction of visits to offices. This will make real property and another assets more liquid and efficient. The fresh government is simply a step towards a more friendly administration that focuses on the usefulness and minimisation of unnecessary formalities.
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Are you selling inheritance or donation? No more IRS certificates!
