Poland President Signs Law Implementing SLIM VAT 3 Package

The Polish President June 1 signed a law implementing the Simple Local And Modern VAT (SLIM VAT 3) package. The law includes measures: 1) increasing the sales value limit to 2 million euros (US$2.1 million) from 1.2 million euros (US$1.2 million) to qualify for small taxpayer status; 2) expanding the use of VAT account funds to pay other specified taxes; 3) reducing VAT formalities for international trade; 4) increasing the amount to 10,000 Polish zlotys (US$2,388) from 500 zlotys (US$119) for recognizing a 100 percent proportion of deduction for proportions exceeding 98 percent; 5) expanding the scope of VAT exemptions; ...