Poland’s Ministry of Finance announced the introduction of a draft bill concerning a proposed amendment to the VAT Law under the Amending Directive to the VAT Directive (2020/285) on 25 June, 2024. The draft legislation is up for public consultation.
The consultation is set to conclude on 16 July, 2024.
This amendment primarily targets cross-border small businesses and will provide VAT exemptions for entrepreneurs, starting in 2025, provided their annual turnover does not exceed EUR 100,000 in both the previous and current years.
Additionally, small entrepreneurs whose taxable supplies of goods and services did not exceed PLN 200,000 in the previous year and are unlikely to do so in the current tax year (excluding VAT) will not be required to register for VAT and will be exempt from paying VAT.
The bill is expected to go into effect on 1 January, 2025, after approval.
Earlier, on 12 June 2024, the Council of Ministers introduced draft legislation amending the value-added tax (VAT) law for small enterprises.
