The act amending the Value Added Tax Act and the Banking Act, known as SLIM VAT 2, was signed by the President.
As we informed in our newsletter of March 16, 2021, work continued on further changes to the provisions of the VAT Act, which are referred to as “SLIM VAT 2”. Not all of the planned changes have been finally included in the Act of August 11, 2021 amending the Act on Value Added Tax and the Banking Act, which has already been signed by the President and is pending publication in the Journal of Laws.
We would like to briefly introduce you to the most important changes that were included in the SLIM VAT 2 package from the perspective of local government units.
SLIM 2 includes:
- Real estate delivery – choice of VAT taxation
- Deduction of input VAT through the correction of past settlements
- Bad debt relief
- Changes to the split payment mechanism
- Extension of the deadline for submitting VAT-26
- Simplifications / changes in invoicing
Source Deloitte
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