- EU Council approves extension of split payment mechanism for Poland
- Extension approved until February 28, 2028
- Split payment mechanism applies to certain supplies of goods and services susceptible to fraud
- Suppliers and service providers must hold separate, blocked VAT accounts
- Funds in blocked account can only be used for specific purposes
- Refund must be made within 60 days if input VAT exceeds output VAT
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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