First amendments to the tax provisions as of 1 July 2020

On 28 May 2020 Polish Parliament passed a bill containing: the provisions implementing EU regulations, so-called “Quick Fixes” package (hereinafter referred to as “QF”); the CIT system tightening provisions implementing Council Directive (EU) 2017/952 as regards hybrid mismatches with third countries (hereinafter referred to as: “ATAD 2 Directive”); completion of the transposition of Council Directive […]

Change in the VAT regulations related to the simplification in the import of goods

According to the current provisions of the Polish VAT Act, the preferential VAT settlement directly within the VAT returns is available only for some entities – the entrepreneurs which meet the conditions of the simplified procedure and for the authorized traders so-called AEO. On average, several thousand importers use this option on a monthly basis, mainly large domestic and foreign companies, which can meet the conditions for admission to the simplified procedure […]

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 […]

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