In January this year, the European Commission (the EC) issued letters to 12 EU Member States because of a delay in implementing the EU Directive 2018/1910 regarding the „Quick Fixes” (QF) package for VAT purposes. QF should be effective throughout the EU from January 1, 2020, however, have not been implemented into legislation in countries […]
Bad debts relief in VAT
Despite “Anti-Crisis Shield” due to COVID-19, it is worth remembering about the permanent solution in the Polish VAT Act that allows reducing or deferring the VAT liability, so-called “bad debts relief“. The requirements to correct the sales VAT related to the bad debts relief are as follows: The taxpayer may correct the tax base and […]
Financial Shield – how you can benefit
In the next few days, the first applications of large companies for refunding their business activity within the so-called “Financial Shield” are expected. The formal introduction of the program for these beneficiaries still depends on its notification by the European Commission. However, submission of the initial application is already possible – detailed qualification and refunding […]
Check what company documents are required for VAT registration in the CEE!
Among the various VAT registration forms and statements that must be submitted to the tax authorities in a certain country, the entrepreneur applying for VAT number has to also provide the company documents. Below you can easily find the basic documents your firm should collect to be VAT registered in Poland, Czech Republic, Slovakia, and […]
WHT and Polish resident’s foreign establishment
On 24 April 2020, a general interpretation of the Minister of Finance (No. SP4.8223.1.2020) was published regarding the withholding tax (WHT) on payments made by a Polish resident’s foreign establishment to a non-resident. It is intended to provide a remedy for existing doubts and disputes regarding whether in such situations a Polish resident or his […]