Short information on changes in the Polish Accounting regulations – in effect from 01.01.2013

Short information on changes in the Polish accounting regulations.
In effect since 01 Jan 2013.

We would like draw your attention to the following changes in accounting regulations for 2013:

CHANGES IN INVOICING

Most significant changes in invoicing include:

1. Contents of an invoice:

• invoices should be marked “Invoice” instead of “VAT invoice”;
• the possibility of including a discount on an invoice;
• replacing the term “date of sale” with “date of making or completing delivery or rendering a service”;
• in the place of the previously allowed short business names of the supplier and purchaser, their full business names are to be used.

In the scope of the above points, it is recommended to adjust the existing systems to the introduced changes, although in practice, one can still use the former notions, hence “VAT invoice”, short business name, or “date of sale”. Such a marking will not according to us, cause any negative consequences either for the supplier or for the purchaser.

• no necessity to provide a vehicle registration number on invoices concerning the purchase of fuel;
• in the case of invoices to the total value of EUR 100 or PLN 450 there is a possibility of issuing invoices in a simplified form (the invoice does not have to contain the name and address of the purchase, measurement, unit price, value without tax, rate, net amount with division into rates, tax amount from the net amount with division into rates, provided it contains data which allow to determine the tax amount for individual tax rates);
• elimination of the term “VAT-MP invoice”, “margin VAT invoice”;
• in the case of transferring the obligation onto the purchaser, the necessity to include the words “reverse charge”, in an invoice, in the case of applying cash accounting – the words “cash accounting”;
• the possibility of not giving the purchaser’s NIP no. In the case of invoices concerning VAT exempted sale;
• the possibility of issuing an invoice by VAT exempted tax payers.

2. Dates of issuing invoices:

• not later than on the 7^th day from the day of issuing goods or rendering a service;
• an invoice may document a few separate supplies of goods or services rendered within a month, if it is issued not later than on the last day of the month in which the goods were given out or a service was rendered;
• in the case of continuous sales, if a tax payer specified only the month and year of sale on an invoice, the invoice will be issued not later than on the 7^th day from the end of the month in which a sale took place;
• in the case of receiving advances – not later than on the 7^th day from the day on which it was received;
• in the case of intra-community delivery of goods, an invoice will be issued not later than on the 15^th day of the month following the month in which the goods were given out or moved;
• in the case of rendering services for which the place of rendering is the place specified in art. 28b of the act – sale of services abroad – not later than on the 15^th day of the month following the month in which the service was rendered.

3. Correcting, increasing, invoices – introducing simplifications:

• A correcting invoice issued in the case of increase of the price should include:
• consecutive number and the date of issue;
• marking the supplier, purchaser, their NIP numbers, as well as:
• name (type) of goods or services included in price increase;
• amount of increasing the tax due.

A correcting invoice issued in the case of finding mistakes, mentioned in section 1, should include:

• consecutive number and the date of issue;
• marking the supplier, purchaser, their NIP numbers, as well as:
• the correct contents of the corrected items, including the correct amounts;
• the difference between suitable amounts indicated initially in the wrong amount and in the correct amount.

4. Correcting, increasing, invoices – introducing simplifications:

The requirement of ensuring authenticity of origin, integrity of contents and legibility of an invoice. The authenticity of origin, integrity and legibility of contents can be ensured with the use of any business inspections which determine a credible audit path between an invoice and the supply of goods or the provision of a service.

In connection with the above changes, and in order to avoid unnecessary surprises and misunderstandings, we recommend paying income tax in advance (1/12 of the last settlement period).

This publication was prepared in collaboration with Taxagroup Sp. z o.o. erstellt pursuant to the legislation in force as at 01 Jan 2013. This publication has been prepared for information purposes only, and does not constitute a tax opinion.