8 March 2019
From 1 July 2019, Poland will introduce a temporary mandatory split payment regime for companies involved in business to business (B2B) sales within in certain sectors prevalent to VAT fraud.
Once introduced the split payment procedure will mean that customers of the businesses affected will have to pay the VAT amount of a sale directly into a special supervised bank account, while paying the net amount directly to the supplier. The tax authorities can then monitor the bank account and make withdrawals in order to settle the supplier’s VAT liability.
This follows the introduction of a similar voluntary scheme for all businesses during July 2018. The sectors affected will be steel, scrap, electronics, gold, non-ferrous metals, fuels, and plastics.
LATEST NEWS
Separate EORI number for Northern Ireland required
HMRC have recently confirmed that businesses who import and export goods from Northern Ireland (NI) will need a special Economic Operator Identification Number...
SEE MORE
LATEST NEWS
Fiscal representation not required in France for UK...
The French tax authorities have confirmed that UK businesses will not have a requirement to engage a fiscal representative when the Brexit transition period...
SEE MORE
LATEST NEWS
UK Intrastat still required after Brexit
The UK tax authorities have confirmed that English, Welsh and Scottish businesses importing goods into the UK from the EU will still be required to prepare and...
SEE MORE