12 June 2019
From 1 September 2019, Poland confirmed it plans to introduce a mandatory split payment regime for companies involved in business-to-business (B2B) sales within certain sectors prevalent to VAT fraud.
The split payment procedure will apply to transactions with a value above PLN 15,000 (approx. £3,100) and will be applicable to the following products:
- Steel
- Fuel and coal
- Mobile phones, tablets, digital cameras
- Passenger car parts
Once introduced, the split payment regime will mean that customers of the businesses affected will have to pay the VAT amount of these sales directly into a special government 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.
LATEST NEWS
E-invoicing hub
Navigating complexity and preparing for the digitalisation of VAT and the future of tax Following compromises and modifications to the original proposal, the...
SEE MORE
LATEST NEWS
EU finance ministers agree to introduce new customs...
In November, the Economic and Financial Affairs Council (ECOFIN) agreed to introduce a customs charge on low-value parcels valued below €150. The charge...
SEE MORE
LATEST NEWS
UPDATE: Swiss government confirms likely delay for the...
The Swiss tax authorities have confirmed that the increase in the standard VAT rate from 8.1% to 8.8% will now be postponed until 2028. This VAT rate increase...
SEE MORE