The most important Polish VAT amendments to come into force on January 1, 2022

On January 1st, 2022 many significant changes of Polish VAT Law will come into the force. Please find below the list of the most important amendments.

  1. Optional VAT taxation of financial services – the possibility to opt for taxation of certain financial services provided by the taxpayer only for other taxpayers (i.e. B2B).
  2. Quick VAT refund for the so called “non-cash taxpayers” – the VAT refund will be possible within 15 days provided certain conditions listed in VAT Act are met.
  3. Introduction of e-Invoices – the possibility of voluntary issuing and receiving via the National System of e-Invoices (KSeF) structured invoices by taxpayers. KSeF will serve as the certifying unit verifying the invoices and releasing them into legal circulation.
  4. Reduction of cash payment limit from 15 000 PLN up to 8 000 PLN. If the limit of 8 000 PLN is exceeded in transaction between taxpayers, they will be obliged to use only non-cash forms of settlements. It results in the obligation to pay invoices via the bank transfer to the contractor’s bank account included in the so called white list of VAT taxpayers. The reduction of the limit does not affect the application of the split payment mechanism.
  5. Introduction of VAT Group with effect from July 1, 2022.

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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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