New list of goods and services subject to reduced VAT rates enters into force as of 1 July 2020
As of 1 July 2020, revolutionary changes with respect to the Polish VAT rates system will come into force. The amendment introducing the new VAT rates system provides a new list of goods and services, subject to reduced VAT rates (so-called VAT matrix). In addition, a new instrument, the so-called Binding Rate Information will be introduced – allowing taxpayers to formally confirm the correctness of VAT rates applied (within the current VAT rates system such confirmation is, in most cases, very difficult to obtain in practice).
Due to introduction of the VAT matrix it is worth to verify currently applied rates in order to conclude which may be subject to reduction and how to secure tax position in doubtful cases.
Listen