Correcting invoices recognized in the month of issue
From January 1, 2016, corrective invoices issued as a result of receiving the return of goods, granting discounts or increasing the price resulting from the terms of the contract are to be recognized as a revenue adjustment in the settlement period in which the corrective invoice was issued, by reducing or increasing revenues
achieved during this period. Buyers who received a correcting invoice for the return of goods, granting discounts or increasing the price resulting from the terms of the contract will be able to make adjustments in the settlement period in which they received the correcting invoice by reducing or increasing the tax deductible costs incurred in this period. This term also refers to making adjustments to the depreciation write-offs of fixed assets and intangible assets that were the subject of the correcting invoice.
The new rules do not apply to corrective invoices issued due to accounting errors or other obvious mistake. In such a case, the existing regulations should be applied, where the correcting invoice is recognized in the settlement period in which the original invoice documenting the income or tax deductible costs is shown. The amendment to the regulations will apply to invoices correcting revenues and tax deductible costs, respectively issued or received from January 1, 2016, even if the original income was obtained or the tax deductible cost was incurred in 2015. *
2016 without cost adjustments from the so-called payment backlogs
As of January 1, 2016, the provisions of Art.15b updop will be repealed, ordering the correction of the value of transaction costs for which the counterparty has not settled the liability within 30 days from the date of the payment deadline. Nevertheless, the introduction of transitional provisions allows taxpayers who made adjustments to reduce tax deductible costs in 2015 and will pay outstanding liabilities to the contractor in 2016, to make an adjustment increasing tax deductible costs in the month of settling overdue liabilities in 2016. **
* - Source: The Act of September 10, 2015. on amending certain acts in connection with the promotion of amicable dispute resolution, art. 3
** - Source: The Act of August 5, 2015. on amending the Act - Tax Ordinance and certain other acts, art. 3