Poland proposes ending quarterly VAT returns
Poland has proposed eliminating the option for quarterly VAT filings for large tax payers.
The quarterly option is available for any VAT registered business. However, any tax payer with a turnover in excess of PLN 5million per annum (large taxpayer) is required to make an advance payment. This advance is calculated as 1/3 of the prior quarter’s VAT liability, and is due in the 2st and 3rd month of the quarter, with a reconciling 3rd payment the month after the quarter end.
The proposed implementation date is 1 January 2017.
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