The right to the tax exemption is obtained by the taxpayer only when he actually incurs capital expenditures by paying for purchased fixed and intangible assets. Such was the ruling of the Supreme Administrative Court (hereinafter referred to as: SAC) in the judgment of 20th December 2017, Ref. file no. II FSK 3178/15, which corresponds with the case law unfavorable for taxpayers.
The dispute over which the SAC leaned in the commented judgment came down to the issue whether the expenditure made by an entrepreneur operating in a Special Economic Zone (hereinafter referred to as: SEZ) can be considered as incurred already at the moment of inclusion in the accounting books or only when the actual expenditure is made. (more)