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VAT split payment. Only VAT taxpayers will benefit from new regulations

Owczarek-600x600Discussions about the new governmental bill on VAT are ongoing. The idea of introducing the mechanism of a so-called “split payment” on the basis of goods and services tax is assessed positively. This is a proven way to reduce the scale of tax evasion and fraud.

At the same time, it is pointed out that there will be no need to create a separate bank account for anyone holding a settlement account – and such a solution is implied in the amendment of the Banking Law with respect to the split VAT payment.

However, one of the propositions is that mandatory creation of new VAT accounts by the banks should only apply to the holders of settlement accounts who are VAT payers and in the situation when the buyer demands the creation of a new VAT account.

Mandatory creation of such accounts for all holders of settlement accounts is not sufficiently justified according to experts. All the more so because many of these entities – legal persons or organizational units without legal personality, to which separate legal provisions grant legal capacity – are not even VAT payers.

 

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