VATupdate

Value added tax changes in Poland

The Polish tax authorities have announced that, with effect from 1 November 2019, Poland is introducing what is known as a Split Payments Mechanism (SPM). Non-resident businesses that are registered for Value Added Tax (VAT) will need to have a bank account in Poland, and will require an additional VAT bank account that is dedicated to receiving and making VAT payments.

Source: RSM

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