The Polish parliament has approved a new "Cash PIT" scheme for individual entrepreneurs that conduct business activity solely independently and whose revenue from the activity did not exceed PLN 1 million in the previous tax year. The scheme will also be available to entrepreneurs who start a business activity. The optional scheme allows for the use of cash basis accounting by qualifying entrepreneurs who will pay personal income tax only after actually receiving payment for the goods or services provided and will deduct tax-deductible costs after payment for the goods or services received. After 2 years, counting from the date...