Poland: e-Invoicing System (KSeF) starting October 1st 2021

On 5 February 2021, the Polish Ministry of Finance proposed a draft amendment to the VAT Act, introducing to the Polish legal order the possibility to issue structured invoices as one of the permitted forms of documenting transactions.

Application of structured invoices (e-invoices), in addition to commercially present paper invoices and electronic invoices, is to be voluntary. For this purpose, the legislator intends to provide a computerized system, i.e. the National e-Invoicing System (KSeF).

In addition to the taxpayer, an entity authorized to access KSeF, such as an accounting office or other designated person, will be able to issue structured invoices on his behalf and have access to them.

The above will provide several advantages to the companies who will adapt this e-invoicing system. Invoices will be Unified based on a strict format provided by the authorities, Invoices do not have to be stored and archived, Changes can be made faster and the invoices will be issued via KSeF which provides a further layer of safety.

There will be a shortened 40 day period for VAT refund but companies must fulfill  certain conditions which at this moment seem fairly difficult to meet.

New regulations come into force on 1st October 2021. Please stay updated by following GVC on the social media and the VATupdates section of our website.

Source credit: asbgroup.eu