Tag: vat returns
In September, we sold the goods to a Chinese purchaser. Sales invoice was issued on September 20th this year, while the confirmation IE 599 the company received in October. When do we need to recognize that invoice in VAT return?Tags: exportation, occurrence of a chargeable event, vat returns Categories: FAQ, RSS
In exportation the occurrence of a chargeable event is on the day of issue of the invoice, but not later than 7 days from the date of delivery. In your case the occurrence of a chargeable event is in September. If your company has in its possession the document IE 599 before the deadline to submit the VAT return for September the company will be entitled to a 0% rate and indicate that supply in the September VAT return.
It is necessary to open a bank account in Poland only if a company wants to receive a VAT refund in Poland. If a company does not intend to ask for a VAT refund the company does not need to have a bank account in Poland. The currency in Poland is PLN, therefore all VAT returns made by the polish tax administration are made in PLN. (more…)
EU company selling to Polish customers (and having EC acquisitions … therefore they need the VAT number). Could they file VAT returns on a quarterly basis from the beginning or would an expected turnover of 500,000 EUR make this impossible? And even if they had to file VAT returns monthly (as a legal requirement?), would they be able to file EC acquisitions quarterly? Or does the VAT return frequency have to match the EC list frequency? (So monthly VAT = monthly EC list?) (more…)