SLIM VAT program adopted by the government – Major simplifications in Polish VAT law & practice

• Taxable persons will recognize negative corrective invoices without confirmation of receipt
• The VAT Act will include positive corrective invoice recognition methods
• E xporters will have six months to transfer goods
• The same exchange rates for VAT and income tax
• More time to deduct VAT and higher gift limits
• Binding rate information may pertain to PKWiU
• Precise regulations and electronic TAX FREE documents
• No WIS in cases under audit
• There will be tax law circumvention clause for Binding Tax Information
• Clarification of split payment provisions

Effective as of Jan 1, 2021

Source gov.pl

The package adopted today by the Council of Ministers is the first in a series of projects aimed at gradual simplification of VAT regulations – removing time-consuming and unnecessary formalities. SLIM VAT is primarily a change in the philosophy of thinking about taxes and a change in the practice of the Ministry of Finance. Further facilitation packages will be released every six months. We will present the next one in the first months of next year

– said deputy finance minister Jan Sarnowski

See prior newsletters on this topic, clcik HERE

 

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