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Poland Announces "SLIM" VAT Initiative

The Polish government has announced a simple, local, and modern ("SLIM") VAT initiative. The SLIM VAT initiative includes changes in four main areas:

  • Simple invoicing:
    • The documentation requirements will be simplified for correction invoices where the taxable amount is lowered (in-minus), including that only documentary proof of the customer’s agreement is needed; and
    • Correction invoices where the taxable amount is increased (in-plus) will be permitted in the same VAT reporting period as the original invoice;
  • Support for exporters:
    • Advance payments on exports may benefit from zero-rating if the goods are shipped up to six months after the payment, which is up from the current two-month limit;
  • Common exchange rates with income tax:
    • Taxpayers will be allowed to apply the same foreign exchange (FX) rules for VAT purposes as are applied for corporate/personal income tax purposes, allowing taxpayers to set one common exchange rate to settle transactions;
  • Financial benefits:
    • Input VAT on purchases may be deducted up to 4 months after a transaction, which will eliminate frequent and unnecessary VAT adjustments;
    • Deduction of VAT from the invoice for accommodation services purchased for resale will be allowed, such as the purchase of accommodation services for a business client; and
    • The VAT-free low-value gift allowance will be increased from PLN 10 to PLN 20.

The SLIM VAT initiative is expected to be implemented in early 2021.

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