already in force

The split payment mechanism

Regulations introducing the split payment mechanism for VAT entered into force in Poland on 1 July 2018. This mechanism in B2B transactions is designed as a weapon in the fight against VAT fraud.

Split payment mechanism: Apparent and hidden benefits

Businesses are not required to use the split payment mechanism. But the initiative left to them does force them to examine whether it would be worthwhile to take advantage of this new instrument. Lawmakers went to some effort to encourage taxpayers to say yes.

Split payment and the legal situation of financing banks

The split payment mechanism for business-to-business transactions entered into force on 1 July 2018. Introduction of this mechanism was motivated by the aim of closing gaps in the tax system. But split payment affects not only the situation of VAT payers, but also banks.

Possible growth, but also more problems: Split payment in factoring

Factoring is growing rapidly in Poland. According to the Polish Factors Association, the value of receivables that are the subject of factoring is growing year on year by an average of 18%. Introduction of split payment may strike at the financial liquidity of firms seeking financing, but it may also drive growth in the factoring industry. But every rose has thorns. Split payment complicates factoring transactions and introduces new risks for factors.

Green light for autonomous vehicles in Poland?

Will the amendment to the Road Traffic Law draw investors wishing to test autonomous vehicles in Poland?

Important changes affecting companies registered in Poland

On 15 March 2018, the Act of 26 January 2018 amending the National Court Register Act and certain other acts came into force. Some of its provisions will come into force subsequently successively up until 1 March 2020.