Split Payments can be made in Polish zlotys only.
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On 9 August 2019, the Sejm (lower chamber of the parliament) of the Republic of Poland passed an amendment to the Law on the Value Added Tax and certain other laws (“the Amendment”), under which the application of Split Payment has become obligatory for the sale of certain services and goods specified in the Amendment (“the Obligatory ”).
FIND OUT MORE: SPLIT PAYMENT AND INVOICES
- We receive “pro-forma” invoices from our counterparties. Is it possible to apply the Split Payment mechanism on the basis of such invoices?
After receiving (or issuing) a “pro-forma” invoice, the Split Payment mechanism cannot be applied. It is due to the fact that under the added Article 108a of the VAT Law, Split Payments can be made only on condition of having an invoice within the meaning of the VAT Law. A “pro-forma” invoice is not an invoice within the meaning of the said Law, it is only a kind of a document accepted in business relations, which is used to e.g. confirm making a specific offer or accepting an order for execution.
- Will it be needed to specify two bank accounts in VAT invoices, namely one ordinary (settlement) account and the other being the VAT account?
No, only the number of the current account which the VAT account is linked to should be provided. Upon the receipt a Split Payment transfer by the Bank and on the basis of information included in the transfer, the Bank’s accounting systems make automatic postings to appropriate accounts of the Split Payment payee, that is, the net amount is posted to the current account and the VAT amount - to the VAT account assigned to the current account.