SLIM VAT 2 is an amendment to the VAT Act introducing changes in the following areas among others:
Recent changes in VAT often cause more uncertainty for taxpayers, although they were intended to serve as simplification in response to taxpayers’ problems.
The SLIM VAT 2 package involves a number of changes that may result in your company in:
Above all, however, the new regulations pose a challenge to persons in charge of appropriate recognition of business transactions in tax settlements of entities.
Compliance of settlements with the latest regulations, in particular in relation to the successive changes as regards corrective invoices
Clarity on complex business transactions difficult to classify related, for instance, to supplies involving several entities in the chain or sales to the UK
Ability to recover interest paid as a result of applying the so-called "separate recognition” effective prior to SLIM VAT 2 with regard to ICA and importation of services
Your company's awareness of the “weaker sides” of the new regulations and the problems that may arise from them in your tax returns
Taking advantage of the possibility of applying the new bad debt relief regulations and recognising input tax after the period set for invoice recognition on an ongoing basis.
Partner | Tax adviser | Head of the VAT PracticeE: tomasz.michalik@mddp.plT: (+48) 501 733 720
Partner | Tax adviserE: janina.fornalik@mddp.plT: (+48) 660 440 141
MDDP is expanding its group of partners. Katarzyna Darska, an expert with nearly 25 years of experience, is joining the Transfer Pricing Team.
MDDP among Poland’s leading tax advisory firms in the ITR
In recent days, the General Court of the European Union (the “General Court”)1 ruled on whether a reseller’s good faith must be taken into account when applying the VAT margin scheme. The question was whether a taxable person may be denied the right to apply the scheme after purchasing goods from a supplier who applied the VAT margin scheme, if it subsequently turns out that the supplier was not entitled to do so. The answer is also relevant to businesses applying the VAT margin scheme in Poland.