Just 1 transfer for that amount. The Fist is now in control!

An inconspicuous transfer, which until late would not rise any suspicions, can now be the beginning of serious problems with the taxation Office. Since the new, tightened regulations entered into force, Polish banks have a work to look closely at our accounts. Any different transaction, even for a comparatively tiny amount, may activate the full control machine. Worst of all, this frequently happens without the cognition of the account holder, and we only learn about the interest in the taxation erstwhile we receive an authoritative call to explain.

The National taxation Administration (KAS) has gained powerful tools to analyse our finances. The aim is to seal the taxation strategy and fight money laundering, but the consequences of these changes are besides felt by honest citizens. It is worth knowing what transfers go under the microscope and what amount can automatically light a red light in banking and taxation systems.

The fresh regulations are a revolution. What does the bank gotta report?

At the end of 2022, an amendment came into force, which imposed much broader reporting obligations on banks. From that minute on, financial institutions must study not only transactions of tremendous value, but besides those that seem different in the context of the client's current activity. All data on suspicious operations are sent to the General Inspector of Financial Information (GIIF) and can then be analysed by the National taxation Administration for a period of time minimum of 5 years.

The rules clearly set out 2 key financial thresholds. The first absolute threshold is the equivalent EUR 15,000 (currently around PLN 65,000). Each single transaction, regardless of its form (transfer, cash deposit) that exceeds that amount, shall be automatically recorded and reported. The bank has no area for explanation here – it is its statutory obligation. However, this second threshold is much more problematic for the average citizen.

These are transactions above equivalent of EUR 1000 (approximately PLN 4300-4500). In this case, the bank is required to notify the operation if it considers it to be ‘suspected’ or ‘non-typical’. This definition is very broad, which gives banks large flexibility in assessing which transfers can possibly be utilized to hide income or money laundering.

What kind of transfers go under the radar? List of suspicious transactions

What does "suspected transaction" mean in practice? Bank algorithms and analysts pay attention to any anomalies and deviations from the norm. Even if we act in good faith, our operations can be tagged as possibly risky. Fiscus is peculiarly delicate to respective types of activity in a bank account.

Here is simply a list of operations that most frequently inspire interest in taxation authorities:

• Sudden increase in account activity: If large or frequent receipts abruptly appear on the account where the current turnover was small, it is an alarm signal.
• Transfers from abroad without a clear title: Transactions from alleged taxation havens are immediately checked, but suspicions may besides rise transfers from another countries if they do not have a clear description.
• Frequent, repeated transactions of the same value: Especially if they are close to the statutory thresholds. This may be interpreted as an effort to avoid reporting.
• Cryptocurrency trading: The acquisition or sale of virtual currencies and the transfer of funds to or from the stock exchanges is under peculiar supervision.
• Exceptional deposits and cash payments: The frequent payment of cash to an ATM without a proven origin of origin is 1 of the most common reasons for the initiation of checks.
• Transfers with a vague or humorous title: Titles specified as “for yesterday” or “thanks for everything” may rise the curiosity of an authoritative who wants to see what is behind them.

The IRS has fresh tools. What does control in practice look like?

When the bank reports a suspicious transaction, the information goes to the KAS. Treasury analysts, utilizing advanced systems, can correlate this data with our taxation statements (PIT) and another information they have. If they announcement discrepancies – for example, advanced receipts in low declared income – may initiate an investigation.

The first step is usually call for clarification. The Authority will request that the origin of the measures be documented. It could be a car sales agreement, a donation agreement, a notarial deed, or proof of winning a legitimate random game. If we are incapable to present reliable documents, the taxation may consider the funds as income from undisclosed sources and impose a punishment taxation rate of 75%.

In utmost cases where there is simply a suspicion of a taxation offence, the prosecutor may order, at the request of the Head of the KAS, bank account lock for up to 72 hoursup to 3 months. It is simply a powerful tool that can completely frost our finances for the duration of the proceedings.

How to defend your finances? applicable advice for everyone

Although the fresh government aims to prosecute criminals, their effects can affect anyone. Therefore, consciousness and prevention are crucial. To minimize the hazard of unnecessary control, it is worth following any simple rules. First of all, you should take care of precise naming of transfers. alternatively of a ‘loan’, it is better to enter ‘Reimbursement of the debt to Jan Kowalski from 15.05.2024’. alternatively of “for the car”, kind “Payment for the Opel Astra car, contract dated 20.06.2024”.

Secondly, store documentation concerning larger transactions. Purchase-sale contracts, donation agreements (remembering the work to study it to the office!), confirmation of winnings – all of this may prove invaluable in case of control. Avoid taking money from your friends into your account as a ‘service’ if you do not know the source. In modern times, financial foresight is not a fanaberia, but a necessity that avoids many stressful situations and serious legal consequences.