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Archives October 2019

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bad debts

Limitations of payment gridlocks - bad debts

BAD LONG - SUBJECT OF ADJUSTMENT:

From January 01, 2020 regulations on "bad debts" will come into force for the purposes of CIT / PIT, based on the provisions applicable to VAT purposes.

IN CASE OF NOT REGULATED

  1. In the event of non-payment of claims under commercial transactions for a period of 90 days from the first day following the payment deadline specified in the invoice or contract:
    • the seller has the privilege reducing the tax base / increasing the tax loss by reducing tax revenues from unpaid receivables,1)
    • the buyer has an obligation increasing the tax base / reducing the tax loss by reducing tax costs (increasing tax revenues - for entities taxed in the form of a flat-rate income tax) from an unpaid liability.2)
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Taxpayers' whitelist

White list of VAT payers

WHITE LIST - CHECK THE ACCOUNT BEFORE YOU PAY FOR AN INVOICE

The whitelist contains the list VAT taxpayers active and exempt from VAT and VAT taxpayers to whom the head of the Tax Office has not registered, taxpayers deleted and reinstated in the VAT register.

The list allows, among others checking the status of the taxpayer according to the status on the given day of checking and the numbers of settlement accounts.

From January 1, 2020, all transactions between active VAT payers, the one-off value of which exceeds PLN 15.000,00 gross, should be settled through the settlement account, which is on the white list of VAT taxpayers.

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Split payment method - MPP

Mandatory split payment method

Split payment method

The split payment method (MPP) in a mandatory form for some transactions enters into force from November 1 2019.

MPP includes invoices for transactions that meet two conditions in total:

  • the transaction concerns the acquisition of goods and services listed in Appendix 15 to the VAT Act, which includes transactions for the purchase of goods and services mentioned so far in Annex 14, 13 and 11 of the VAT Act, covered by the reverse charge mechanism and joint and several liability, and inter alia parts and accessories for motor vehicles, coal and carbon products, electrical machinery and equipment, their parts and accessories,
  • the total receivable resulting from the invoice (ie the gross value of the entire invoice) exceeds the value of PLN 15.000,00.
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