According to the Office’s position, Boriszio did not have the right to reduce the tax due by the input tax described in Invoices issued by some contractors accused of participating in a series of transactions aimed at tax deductions.
At the same time, the Office expressed the opinion that it could not attribute to the company so-called good faith, which would allow retaining the right to deduct input tax despite the occurrence of tax violations in the early stages of the disputed supplies.
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In addition, the office questioned Boriszio’s right to apply a zero percent value-added tax rate. To transactions for the supply of goods within the community, resulting in these transactions being subject to a value-added tax of 23%.
Boryszew has created a provision in the amount of PLN 30.3 million for tax risks resulting from the proceedings in 2022.
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“The decision is not final and cannot be enforced. Given a different assessment of the above circumstances, the company will use available appellate solutions to question the above-mentioned office decision,” Buriszio wrote in the announcement.
Boryszew is one of the largest private industrial groups in Poland and at the same time The 56th largest Polish company listed on the WSE with a market capitalization of PLN 1.5 billion. It is the largest non-ferrous metals processor in Central and Eastern Europe and the largest independent manufacturer of automotive components in Poland. It specializes in the production of automobile components, metal and steel processing and industrial chemicals. It operates through 35 production plants and six R&D centers located in Europe, Asia and the Americas.
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In the first half of this year with revenues of PLN 3.5 billion, it earned a net PLN 121.6 million compared to PLN 108.5 million in the previous year in the same period. In the first half of 2023 alone, the Group secured new contracts for the automotive sector worth 690 million euros. Nearly 77 percent of them are electric and hybrid cars.
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