We are pleased to announce that the NGL TAX Team has obtained a VAT refund and VAT deduction of almost 1.5 million PLN for a Client operating in the telecommunications industry in recent weeks. Our Client’s activity consists of investing in telecommunication companies and providing them with management services.
Despite representing our client in verification activities, our Team comprehensively prepared the Client to apply for a refund by structuring VAT and CIT settlements with subsidiaries. Our project also covered the examination of allocation of expenses to particular types of business activities of the client and the methodology of VAT deduction using the sales proportion. Moreover, we obtained for the Client an individual ruling confirming the methodology for VAT deduction.
Our Team also successfully carried out a project aimed at streamlining holding functions in a group of companies operating in the transport and conveyance industry. As a result, the principles of rendering services by the holding company were structured with the use of “safe harbour” for management services and the CIT settlements for the period of 5 years were corrected.
Thanks to our Team’s comprehensive handling of the process, the Client obtained an overpayment of CIT in the amount of approx. PLN 1 million.