Due to Brexit as of January 1 2021, the UK ceased to be a member of the EU VAT system and EU Single Market. This has a significant impact on VAT for UK companies. For the purpose of continuation or starting the business activity in Poland by the UK’s entrepreneurs, the same as for the […]
Polish Minister of Finance explanations on cash register receipts classified as simplified invoices
The possibility of issuing simplified invoices (so-called receipt with TIN) was introduced in 2013 and since then many taxpayers’ doubts have grown around them. Recent changes to regulations and growing doubts as to their application have prompted the Minister of Finance (MF) to issue on 20 October 2020 tax clarifications in this regard. A simplified […]
VAT in the CEE – the most important changes
Selected changes in the VAT ___ Poland JPK_VAT implementation – the entry date 1 October 2020 Before October 2020 the Polish taxpayers had to submit to the tax authority mandatory two filings separately: VAT return and SAF-T file. As of 1 October 2020, the Polish taxpayers are obliged to submit JPK_V7M (monthly VAT reporting) or […]
BREXIT – Fiscal Representative in Poland – when required?
British company after Brexit will be treated as a non-EU country. British company intending to launch VAT taxed business activity in Poland or willing to prolong the current VAT registration is obliged to appoint a Tax Representative. Does your company require to appoint a Fiscal Representative? Non-Polish entities willing to carry out taxable supplies in […]
Fiscal Representative in Poland – when required?
Norwegian company intending to launch VAT taxed business activity in Poland is obliged to appoint a Tax Representative. Does your company require to appoint a Fiscal Representative? Non-Polish entities willing to carry out taxable supplies in Poland are obliged to register for VAT purposes regardless of their taxable turnover. Please keep in mind that the […]
Slovakia: Proposed changes in VAT taxation to be effective from 2021
VAT changes from 1 January 2021: On 26 August 2020 SK Government approved the proposal of the amendment to Act No. 222/2004 Coll. on VAT. The amendment transposes European law as regards certain value-added tax obligations for supplies of services and distance sales of goods, into local tax legislation. Proposed changes should come into force […]
SLIM VAT – Changes, changes, changes…
The Ministry of Finance is intensively working on changes concerning VAT taxation. Despite numerous changes that entered into force from 1 January 2020 (Quick fixes, VAT rates matrix, changes concerning the so-called White List of VAT taxpayers)and changes that will enter into force from 1 October 2020 (so-called VDEK, complete change in the field of […]
Poland – White List – new rules after 1 July 2020
The negative consequences of the White List register, introduced on 1 January 2020, regarding payments to the supplier’s bank account not included in the White List register for B2B (active VAT taxpayers) transaction over PLN 15 000 gross, result in: lack of the possibility to treat such an expense as tax-deductible cost in CIT and PIT, […]
What will Brexit bring in VAT?
CURRENT BREXIT SITUATION On January 2020 United Kingdom (UK) based on an agreement concluded with the European Union left EU. Nevertheless at least until the end of 2020, there is an exit transitional regulation period when the existing EU VAT regime, single market, and customs rules still apply. There is a possibility that the final […]
Monitor your trade in goods within the EU Member States – check Intrastat obligations in the CEE Region
What is the INTRASTAT system? Intrastat is the statistical system enforced on 1st January 1993 in accordance with the need to control trade in goods within the European Union (EU) in a situation of removal of borders and customs formalities between the EU Member States when reporting obligations were withdrawn. Intrastat does not apply if […]