Payments only to bank accounts registered for VAT

  1. New legislation concerning changes to VAT and CIT is currently being processed in the Polish Parliament. The new rules provide that VAT taxpayers will have to make their payments only to the bank accounts registered with the tax office.
  2. The consequences of a payment to a creditor’s bank account which is not registered with the tax office are:
    a) exclusion of these expenses from the tax deductible costs;
    b) joint and several liability of the company with its supplier for any unpaid VAT.
  3. The changes are to come into force on 1st January 2020, but the above limitations will only cover payments over PLN 15,000.
  4. There are ways to avoid negative consequences of making payment to a creditor’s bank account not reported to the tax office:
    a) notification to the tax office of the account to which the money was transferred within 3 days after ordering the transfer;
    b)payment using the split payment mechanism.
  5. To allow debtors to verify the bank accounts of creditors the changes provide also for the extension of the VAT register to include the registered account numbers. Such VAT register will be publicly accessible, updated on a daily basis and could be integrated with the accounting systems. It should start operating from September 2019.

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