Poland Gazettes Law Implementing Mandatory VAT Split Payment Regime

The Polish Official Gazette Sept. 13 published a law implementing a mandatory VAT split-payment regime for certain industries in addition to the current voluntary regime. The law includes measures: 1) imposing mandatory split-payments on qualifying transactions; 2) imposing penalties for the failure to make split payments; 3) abolishing joint and several liability; 4) allowing a 30-day refund period; 5) allowing VAT to be paid in advance into dedicated accounts, and exempting applications for the transfer of VAT-account funds from the stamp duty; 6) simplifying invoicing procedures; 7) introducing a new VAT rate matrix; and 8) lowering rates for certain necessary ...