Poland’s Finance Ministry plans simpler VAT payments
Photo by Alexandros Michailidis / Shutterstock.com
Poland’s Finance Ministry aims to make life easier for small and medium-sized companies by simplifying how value added tax is paid, public broadcaster Polish Radio’s IAR news agency reports.
Finance Minister Tadeusz Kościński attending a Finance Ministersʼ Economic and Financial Affairs Council (ECOFIN) meeting in Brussels on January 21, 2020. Photo by Alexandros Michailidis / Shutterstock.com
Finance Minister Tadeusz Kościński said that the change would not affect VAT rates themselves. Simplifying VAT payments will be possible through the use of electronic receipts and invoices, and online cash registers, according to the report.
Deputy Finance Minister Jan Sarnowski said that exporters would be among those who stand to benefit from the new system. The finance ministry wants the changes to come into force early next year, according to the IAR agency.
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