The data sent by Polish VAT taxpayers via SAF-T are so detailed that Polish Ministry of Finance began to lead to the liquidation of the VAT returns in Poland starting 1st January 2019.
These plans of the Ministry were confirmed by prof. Teresa Czerwinska, Polish minister of finances at last Monday press conference in Warsaw.
Polish entrepreneurs hope that when the obligation to send tax returns will disappear, the VAT reporting in Poland thanks to SAF-T will be simple and fully automated.
Poland’s economy expanded 4.6 percent in 2017, its fastest pace since 2011. The rate of gross domestic product (GDP) growth was slightly above analysts’ forecast of 4.5 percent and substantially faster than the 2.9 percent of 2016. Stronger economic activity in Poland’s neighbours and the EU have also helped Poland. Economic growth in Germany, Poland’s top exports market, hit a six-year high in 2017. Household consumption strongest in nearly a decade. But some economists and policymakers say wage pressures are a concern.
Since 2018 the so-called minimum income tax on commercial real estate (e. g. shopping centre, department store, independent shop and boutique, office building) of 0.035% has been introduced. It refers to properties whose initial value exceeds PLN 10 mln. The tax base is the income corresponding to the initial value of an initial fixed asset determined as at the first day of each month resulting from the records, reduced by the amount of PLN 10 million. You can settle this obligation in two ways: pay the minimum tax and, when calculating CIT advance payment (PIT), deduct this PIT (CIT) or pay the full amount of CIT advance payment if it is lower than the minimum tax amount.
Read more about the Polish property tax
European Commission proposes a deep reform of VAt system in the EU. Overall over €150 billion of VAT each year is lost, which means that Member States lose revenues that could be used for schools, roads and health care.
LEARN THE DETAILS OF THE VAT REFORM
Piotr Kawa, senior manager at Intertax posted on Linkedin important information on Polish credit / debit note rules for all of you who sale in Poland and in case of simple mistakes are rebilling the invoice instead of make an adjustment according to Polish rules.
The first ever EU list of non-cooperative tax jurisdictions has been agreed today by the Finance Ministers of EU Member States during their meeting in Brussels.
In total, ministers have listed 17 countries for failing to meet agreed tax good governance standards. In addition, 47 countries have committed to addressing deficiencies in their tax systems and to meet the required criteria, following contacts with the EU.
This unprecedented exercise should raise the level of tax good governance globally and help prevent the large-scale tax abuse exposed in recent scandals such as the “Paradise Papers”.
More: EU publishes list of non-cooperative tax jurisdictions