Exchange rates - 2024-12-11
| 1USD | 4,0628 | 0.27% |  |
| 1EUR | 4,2661 | 0.03% |  |
| 1CHF | 4,5944 | 0.18% | |
| 1GBP | 5,1720 | 0.08% | |
Inflation 2024
The level of the Consumer Price Index (inflation) for 2023 is 11.4%.
08.11.2024
2024-12-11
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Limitation of quarterly VAT settlement from 2017
The next stage in the fight against criminal tax carousels will be the abolition from January 2017 of the possibility of using quarterly VAT settlements for taxpayers other than small taxpayers. New taxpayers will also not be able to use this form of VAT settlement for the first 12 months of running a business.
The authors of the draft amendment refer to information from tax authorities, which claim that currently the quarterly form of VAT settlements is frequently used by entities aiming to defraud the state budget.
The idea of limiting crimes involving VAT fraud is highly commendable. Unfortunately, knowing the restrictive attitude of the tax authorities, this will probably cause significant difficulties in the functioning of honest taxpayers, for whom the inability to register a quarterly VAT settlement within 12 months of establishing a business may constitute an insurmountable barrier.
The latest amendment to the VAT Act contains many more similar "kwia tków ", which we will write about in the near future.
