Construction micro-entrepreneurs about to get VAT refunds faster

Owczarek-600x600The ministry of finance has published the information stating that micro-entrepreneurs will be able to count on a faster refund of goods and services tax (VAT). Micro-entrepreneurs may get their refunds even within 15 days. However, in order for this to happen, it is necessary to verify the correctness of the VAT refund within this time limit.

Since the beginning of this year, after the amendment of the act on goods and services, construction services provided by some entities have been made subject to the mechanism of the so-called “reverse charge”. In practice, this means that an active VAT taxpayer does not have to charge this tax because the buyer is obliged to do so.
At the same time, at the end of June, the representatives of the National Revenue Administration announced that micro-entrepreneurs would receive VAT returns in less than 15 days. This will allow them to avoid having to wait for the expiry of the time limit resulting from the declaration, which is between twenty five and sixty days.
In order to get VAT refund faster, it is important for the refund to be validated within this time limit.

Author of the text: Patryk Szulc
Translate: Beata Wiśniewska
Source of information: http://ksiegowosc.infor.pl