Unified Control File For Micro-Entrepreneurs
The Polish Ministry of Finance is launching an information campaign targeting micro-entrepreneurs. From January, they will come under an obligation to submit electronic Unified Control Files for the purpose of goods and services tax (JPK VAT). Microcompanies constitute the majority of business entities in the country. Not everyone is aware there is a new reporting duty coming. The Ministry wants to make sure business owners know about the new requirements and how to prepare and submit JPK_VAT.
Unified Control File is a standardized document containing information on company activity including revenues and expenses and other information that may be found in any entity’s accounting books. It was first introduced in 2016 and made obligatory for big enterprises. From the onset, the Ministry was clear the new reporting obligation would be expanded to include smaller entities as well. Since 2017, the Unified Control File has been prepared by medium and small businesses. Finally, it is time to add micro-entrepreneurs to the system as well.
According to legal provisions, micro-entrepreneurs are those companies that annually accrue up to 2 million euros (or equivalent) and employ less than 10 staff members. All companies performing VAT transactions are obliged to record them in the VAT sales and purchase register. This data will now be downloaded into a Unified Control File and submitted electronically to tax officials. Every company has to submit JPK_VAT by the 25th day of the month following a given month (even if they registered for quarterly tax returns).
The Ministry of Finance launched a dedicated web portal including information on Unified Control File (www.jpk.mf.gov.pl) and is encouraging micro-entrepreneurs to try out preparing and submitting the document. The Ministry prepared a special computer program that is to help with this task. Business owners have to remember about the new obligation, but in return may count on quicker tax refunds.
The Unified Control File is to give officials more information on business operations and enable an easier and more effective fight against tax fraud.
More news from Poland
Consulting services
PZC provides all the services that foreign company or individual businessmen need when doing business in Poland. If you want to learn more about the given service click on it to see the detailed description.
Read more