SLIM VAT 2 is another simplification package that will facilitate the settlement of the tax on goods and services. It implies, among other things, the possibility of allocating the funds collected in the VAT account to farmers' insurance premiums, as well as more flexible exercise of the right to deduct or choose the option of property taxation.
SLIM VAT 2 is also a response to the demands of entrepreneurs in relation to the need to counter the negative effects of the socio-economic pandemic COVID-19.
Key solutions SLIM VAT 2:
- • Fuller VAT neutrality in international transactions.
- • Allowing the clearing holder to import the goods directly in the tax return to make an adjustment if he failed to settle the correct amount of tax in the original declaration.
- • Extending time to benefit from relief for bad debts and extending its application.
- • Facilitating the deduction of VAT on cars used for business activity - 100% deductions from expenditure by extending the time limit for submission of information on receipt first expenditure on the vehicle.
- • Allowing VAT deduction after the deadline for deduction to be ‘currently’ – extending the number of tax periods in which the taxpayer can deduct by adjusting the declaration.
- • Allowing (optional) the possibility of submitting a consistent statement by the supplier and buyer of the choice of property taxation in a notarial act.
- • Regulating the issue of the release of funds translated from the VAT closing account to the so-called technical account.
- • Allowing permission to release funds from the VAT account if the tax arrears held by the taxpayer have been postponed or broken down into instalments.
- • Allowing the allocation of funds collected in the VAT account to regulate the contribution to KRUS.