Tax Alert No. 2/2017: Ministry of Finance will receive SAF-T files on bank extracts on daily basis

The Polish Ministry of Finance published a draft of the amendment to the Tax Ordinance. According to the presented draft the entrepreneurs will be obliged to submit to the Polish tax authorities SAF-T files containing data on payments made on their bank accounts (so called “SAF-T bank extracts”) on daily basis.

If the entrepreneur has the bank account in the bank established or having a branch in Poland, this obligation will be fulfilled by the bank. It will be done on the basis of the authorization that the entrepreneur will give to the bank.

If the entrepreneur keeps the account in the bank not established and not having a branch in Poland, it will have to fulfil the obligation on its own. It means that the entrepreneur will be obliged to prepare and file SAF-T files containing data from its bank accounts every day (except Saturdays, Sundays and public holidays).

The obligation to pass the above data will not concern so called micro entrepreneurs, i.e. entrepreneurs which in one of the last two fiscal years had globally less than 10 employees and had annual global turnover or amount of assets at the end of one these years below EUR 2m.

It is not clear whether the new regulation will concern also the foreign entrepreneurs not established and not having fixed establishment in Poland. Hopefully, the Ministry of Finance will clarify the doubts before the new regulations will be implemented. We will of course inform you, if such explanations are published.

The proposed amendment is supposed to come into force on 1 September 2017.

The draft of the new regulations is now in the process of public consultations.

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The alert presents the issues that we believe may be of interest to you. The information in the alert is of a general nature and it does not cover all changes resulting from the amendment of the VAT law. Before making any decision or action, as well as in case of any questions or concerns, please contact one of our tax advisors on +48222503100 (email:biuro@itadp.pl).

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