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Sejm passes business-friendly changes to VAT and other laws


The Sejm on 16 November approved an economic deregulation bill intended to ease some of the administrative burdens on business, particularly small firms.

At its heart are changes to VAT regulations designed to help companies deal with payment bottlenecks and liquidity issues. Under the new law, companies using cash accounting (an option available to firms with annual revenues of up to €1.2m) will not have to pay output VAT on unpaid sales invoices under any circumstances. They will pay it only on what they have actually received from customers. (At present such firms are only allowed to postpone the payment for a maximum of 90 days, regardless of whether they are paid or not). At the same time, firms that use accrual accounting will be able to claim the “VAT bad debt relief” already after 150 days instead of 180. The procedure itself will also be simplified. Other changes are proposed that will also strengthen the position of the supplier of goods and services versus the non-paying customer. The law also liberalises some tax, reporting and registration requirements and procedures and laws pertaining to lease contracts.

The changes will come into effect as of 2013.

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