SLIM VAT – simplification plans in the field of VAT settlements

The Ministry of Finance has published the preliminary assumptions of simplifications in the field of tax on goods and services. The new regulations should enter into force from the beginning of 2021.

SLIM stands for simple, local and modern. In the future, VAT settlement is planned to be simplified as much as possible. Contact with the tax authorities in VAT matters will be fully electronic. The project of changes being prepared by the Government Legislation Center is a response to appeals to the Ministry of Finance sent by entrepreneurs, in particular from the SME sector.

The SLIM VAT project covers such issues as:
– simplifications in the field of corrections of the invoices
– simplifications for exporters
– changes in the use of appropriate exchange rates for the conversion in case of transactions in foreign currencies
– a positive change in the possibility of the deduction of VAT in case of the purchase of accommodation services when the company resells these services
– extension of the maximum deadline for the deduction of VAT on purchase invoices – up to four settlement periods
– changes regarding the settlement of VAT in the case of giving gifts of small value up to PLN 20.
 

More details on the website: https://www.gov.pl/web/finanse/slim-vat–uproszczenie-i-unowoczesnienie-rozliczen-vat