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Poland Amends VAT Regulations

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Poland has recently enacted most important VAT amendments which were previously approved in the year 2012. The new provisions are intended to reducing the tax burden, modifying tax procedures and …

Poland has recently enacted most important VAT amendments which were previously approved in the year 2012. The new provisions are intended to reducing the tax burden, modifying tax procedures and adding new rules related to delivery of the goods or performance of the services, says Nair & Co.’s International Tax Services Team

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  • 1. Poland Amends VAT Regulations (Bristol, UK) - Poland has recently enacted most important VAT amendments which were previously approved in the year 2012. The new provisions are intended to reducing the tax burden, modifying tax procedures and adding new rules related to delivery of the goods or performance of the services, says Nair & Co.’s International Tax Services Team. These new regulations, which are in line with the European Union (EU) law, are effective 1 January 2014. Highlights of the new VAT Regulations include:  Chargeable events – chargeability of VAT is no longer linked with invoicing dates. Instead it will apply at the time of supply of goods or services.  Taxable Amounts – The definition of the taxable amount is now in compliance with the EU VAT Directive.  Invoicing – Invoices can now be issued by the taxable person as late as 15th day of the month subsequent to the month in which the transaction occurred (i.e. goods supplied, services performed or receipt of advance payment) subject to maximum 30/60 days from the supply of services / goods. Collective invoices may also be issued to reflect transactions from an entire month. Companies with operations in Poland or planning to operate in Poland will notice that the new amendments are closer to the EU standard. For more information about doing business overseas or to know more about our International Expansion Services team please contact us. Subscribe to regular global tax compliance alerts from Nair & Co. Get the latest news releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts.
  • 2. About Nair & Co. Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand business and manage risk so they can focus on their core business and sustain growth with minimal risk, stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in Bristol, UK, has 450 employees and offices in China, India, Japan, Singapore, and the US. Learn more at www.nair-co.com Media Contacts: For media enquiries or to learn to more about Nair & Co., please email us at media@nair-co.com or call Yvonne Smith at +1.408.501.8867