The Polish Ministry of Finance has published new Act on e-invoicing. Obligatory e-invoicing is about to enter into force as of 1 January 2024.
Under the new regulations all Polish VAT taxpayers (with some minor exceptions) will be obliged to (i) register in KSeF and (ii) issue and receive so-called structured invoices. This obligation will be due also on foreign entities having fixed establishment for VAT purposes in Poland. What is important, documents issued by foreign entities in other form will be not treated as invoice for Polish VAT purposes.
Issuance of invoice in other form will be penalized with fine amounting up to 100% of the amount of VAT resulting from the invoice and in case of invoices not indicating VAT amount – up to 18.7% of receivable, whereas the fine may not be lower than PLN 500.
The VAT taxpayer making the payment to other VAT taxpayer will be obliged to indicate the e-invoice number while making the payment.
Any good news? Introduction of e-invoicing should simplify invoice corrections – correction invoice issuer will have the right to recognize it in the period in which the invoice was issued, whereby correction invoice recipient will have the right to recognize it in the period in which the invoice was received.
Moreover, the period in which excess of input VAT over output VAT will be returned to the bank account of the taxpayer will be shortened from 60 to 40 days.
Should you wish to discuss these new obligations or need IT support in this respect, please contact us.
