Poland’s Ministry of Finance recently announced a consultation on the simple, local, and modern (SLIM) VAT 3 package of measures. One of the main measures of the package is an increase in the annual turnover threshold for small taxpayer status from EUR 1.2 million to EUR 2.0 million, which allows for the settlement of VAT using the cash method and the filing of returns on a quarterly basis. The package also includes measures to improve the liquidity of companies, reduce formalities for VAT in international trade, extend the scope of VAT exemption, reduce the need for corrections, simplify invoicing, and reduce VAT sanctions.
Source Orbitax
