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The Warsaw Voice » Business » May 15, 2017
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Split VAT payment will bring billions
May 15, 2017   
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The Polish government eyes PLN 419 million in net financial impact of the planned split VAT payment mechanism in 2018, then PLN 3.34 billion in 2019, PLN 7.58 billion in 2020 on the way to PLN 9 billion annually beyond 2022, the Finance Ministry said in an impact study for the split payment bill.
The increased inflows themselves would amount to PLN 2.5 billion in 2018, PLN 7.5 billion in 2019 and PLN 8 billion in 2020 on the way to PLN 9 billion in 2022, but those would be partailly offset by costs of faster VAT returns in the first years after implementation, the document shows.
The forecasts are based on the estimate of the current VAT fraud at PLN 10 billion.
Split payments would be voluntary but the bill contains incentives for switching to split payments, for example tax payers switching to spliit payments would avoid joint and several liability for tax payments, the impact analysis said.
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