Obligation to file VAT tax returns to go away
A representative of the Ministry of Finance revealed in an interview that the institution plans to get rid of the obligation for Polish companies to file VAT tax returns. In the tax returns, taxpayers showcase their transactions involving VAT tax settlement. Today, the document has to be submitted to the competent tax office on a monthly or quarterly basis. Failure to comply may result in losing one’s VAT number, i.e. being deregistered as a VAT tax payer. If you are not a payer of the value added tax, you are not entitled to deduct it and also lose credibility.
The Ministry says that soon such tax returns may become unnecessary, as fiscal authorities will acquire all information on VAT transactions in Unified Control File (JPK). Unified Control File is a document that from January 2018 will be prepared monthly by all taxpayers. It is a new form of reporting, which soon will compulsory for all entrepreneurs. AS JPK is to include the data which today is presented in tax returns, keeping both of those obligations in force seems unnecessary. However, any changes with regard to filing VAT tax returns need to be done through amendments to the act on the goods and services tax.
Wojciech Śliż, head of the goods and services tax department at the Ministry of Finance, says the disposal of tax returns will happen “in the near future”. Ministry officials are already working on the changes to VAT regulations. A six-month vacation legis period is expected before the new legal provisions are introduced. Polish company owners need to have time to get used to the change which may be called revolutionary.
From 1 January 2018, all tax returns will have to be submitted electronically. Monthly VAT tax returns need to be filed by the 25th day of the month following a given month.