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November 27, 2023E-invoicing in Portugal
November 29, 2023
Mandatory e-invoicing in Poland starting from July 2024
At the beginning of August 2023, The Polish president has signed an amendment to the VAT law making e-invoicing mandatory starting from July 1, 2024.
All invoices issued will have to be declared through a central platform called the National Electronic Invoice System - KSeF. The changes are expected to improve the fight against VAT fraud and provide one of the mechanisms to combat VAT avoidance by taxpayers.
What does it mean in practice?
The e-invoicing obligation will generally go into effect on July 1, 2024, and for small and medium-sized VAT-exempt companies on January 1, 2025
This will be mandatory for B2B transactions. B2C invoices will not be covered by KSeF
Taxpayers using KSeF who apply for the VAT refund will be able to receive that refund in a shorter period. The authority will shorten the maximum basic refund period from 60 to 40 days, which will have a positive impact on liquidity, especially for small and medium-sized companies
A receipt with VAT number included, will be recognized like a simplified invoice until December 31, 2024
Please also note that starting in January 2025, the PL Tax Office will impose penalties on taxpayers for non-compliance with regulations related to e-invoicing. They will be up to:
100% of the VAT amount shown on the invoice which is issued outside KSeF, or
18.7% of the total amount due shown on the invoice issued outside KSeF (in the case where no VAT is shown on the invoice)
We will be constantly monitoring all changes, so that our customers can prepare properly for the upcoming processes.
The official guidelines can be found here.
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Author: Julia Kruszona, VAT Team Leader at EFF