The Polish lower house of parliament (Sejm) Feb. 8 accepted for consideration Bill No. 3025, to introduce the Simple Local and Modern VAT (SLIM VAT 3) package. The bill includes measures that would: 1) reduce VAT formalities for international trade; 2) increase the sales value limit to 2 million euros (US$2.1 million) from 1.2 million euros (US$1.3 million), to qualify for small taxpayer status; 3) expand the use of VAT account funds to pay other specified taxes; 4) increase the amount, to 10,000 Polish zlotys (US$2,238) from 500 zlotys (US$111), for recognizing a 100 percent proportion of deduction for proportions …
Source: bloombergtax.com
