New Tax Obligation For Polish Companies: JPK VAT
January was the first month for which all Polish companies present in the JPK VAT register had to meet a new fiscal obligation introduced by the Ministry of Finance. Enterprises in Poland that are registered for VAT have to submit the so-called JPK VAT file which gives information on the sale and purchase transactions a given company carried out in a given month.
The document is prepared electronically and submitted online. According to recent information from the Ministry, a majority of Polish companies (approximately 95 percent) have managed to comply with the obligation on time. The remaining 100,000 business entities, if they do not correct themselves, will face penalties.
The Importance of JPK VAT for Polish Companies:
Even though the new law has been in force for some time until recently it has only applied to big, medium, and small enterprises (i.e. those employing more than 9 people). Today, the obligation also concerns microentrepreneurs and those who are self-employed. Most companies in Poland fall into this category.
Moreover, micro-businesses are not under obligation to keep accounting books and often have no accountant to take care of the new duties for them. Officials were anxious business owners in Poland may have difficulties in preparing and submitting the JPK VAT file.
National Fiscal Administration together with the Ministry of Finance prepared a media campaign to notify business owners in Poland about the new regulations. Tax offices and dedicated helplines in Poland in January were opened late to answer any questions related to JPK VAT taxpayers may have. The assistance of JPK VAT experts is still available. People who realize they have made a mistake in their document may send in a corrected version.
VAT taxpayers are under obligation to submit the JPK files by the 25th day of the month following a given reporting period. Fiscal authorities will use the collected data to track and target dishonest taxpayers, and as a result, conduct fewer tax inquiries but with a higher probability of finding offences.
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