From October, taxpayers are obliged to report a new, extended JPK_V7M. In order to support entrepreneurs and help them reduce tax risk and avoid penalties, our tax, accounting, and IT professionals have created an innovative IT tool, TaxWave. TaxWave is an innovative IT program that automates the verification and control of JPK_V7M files. Our program […]
Poland – revolution in VAT reporting as of October 2020 – necessary?
As of October 1, 2020, the tax reality in Poland changed. From that date, VAT taxpayers are obliged to report VAT according to the new electronic structure in the form of SAF-T_V7M or SAF-T_V7K. The purpose of the action was to simplify reporting. Did it work? Until the settlement for September 2020, the taxpayers registered […]
Poland – back to the past in terms of intra-Community acquisition of goods
On March 18, 2021, the Court of Justice of the European Union (CJEU) issued a positive judgment in the Polish case C-895/19 held that the Polish provisions of the Polish VAT Act, which in a specific situation prohibits the recognition of output and input tax on intra-Community acquisition of goods (ICA) in the same settlement […]
Apply for VAT refund connected with intra-Community acquisition of goods, reverse charge transactions, or import of services!
On 18 March 2021 the Court of Justice of the European Union (case C-895/19) confirmed that the Polish provision excluding the possibility of settlement of output VAT and input VAT in the same tax period after 3 months from the date on which the tax obligation arose is inconsistent with the VAT Directive. What it […]
The Ministry of Finance presented a package – SLIM VAT 2
On 18 February 2021, the Ministry of Finance presented a new draft called SLIM VAT 2. The package aims to simplify the invoicing procedure, reduce formalities and improve the liquidity of companies using the split payment mechanism. The most important proposed tax changes: Art. 22 sec. 2e and 3 Specification to which delivery should be […]
Brexit – the major VAT and Customs consequences of the United Kingdom’s exit from the European Union
On January 1, 2020, the United Kingdom (UK) left the European Union (EU) on the basis of an agreement concluded with the EU. The Brexit will change the VAT and customs rules in transactions between the EU Member States and British entities. Therefore, companies should adapt themselves smoothly for the upcoming changes, in order to […]
VAT Fiscal Representative for non-EU companies
Non-EU established companies should appoint a Fiscal Representative to operate in most EU countries. The Fiscal Representative is required for entrepreneurs starting their operations in Poland. Exception! As of January 1, 2021, the British and Norwegian companies are exempt from the obligation to appoint a Fiscal Representative in Poland. This change was announced on February […]
General tax ruling of the Ministry of Finance on the qualification of fuel card transactions for VAT purposes
On 15 February 2021, the Ministry of Finance issued a general tax ruling regarding qualification for VAT purposes of fuel card transactions. The ruling confirms the theses of CJEU’s judgment of 5 May 2019 in the Polish case Vega International C-235/18, indicating premises allowing to distinguish a supply of goods among three entities (taxed with […]
NEW RULES IN THE SETTLEMENTS OF INVOICE CORRECTIONS FROM 1 JANUARY 2021
As of 1 January 2021, the changes in the VAT Act regulations related to the reporting of the invoice corrections so-called „SLIM VAT package” came into force. One of the most important implemented changes is related to the new method of invoice corrections reporting for the purpose of the VAT settlement. Unfortunately, the simplification as […]
Proposed amendments to the Act on Counteracting Money Laundering and Financing of Terrorism
On 19 January 2021, the Polish Parliament (the Sejm) received a government draft amendment to the Act on Counteracting Money Laundering and Financing of Terrorism aimed at implementing changes in AML directives. What is about to change? Changes to the Central Register of Ultimate Beneficial Owners (CRBR) Extension of the catalogue of entities obliged to […]