E-book: VAT in 2014


Value-added tax - known to everyone as VAT - is a levy that covers most transactions. This tax is paid not only by entrepreneurs and other legal entities, but also by all consumers who, for example, make purchases in a local store. It is worth knowing how this tax is accounted for - especially since 2014 introduced quite revolutionary changes to it.

VAT tax - where did it come from?

Today, the tax on goods and services is so common that most of us do not think about its origin. It is worth knowing that its history is not as long as it might seem - VAT is only 60 years old this year. In 1954, this type of levy was introduced for the first time in France. Due to the European Economic Community, which introduced the relevant directives in 1967, VAT began to be applied throughout Europe.

In Poland, VAT first appeared in 1993, when the Act on tax on goods and services entered into force on 8 December. Thus, it replaced the previously used turnover tax. The act was amended many times and was enacted again on March 11, 2004, when, due to Poland's accession to the European Union, it was necessary to harmonize national regulations with EU directives.

Act on tax on goods and services

The provisions of the Value Added Tax Act are the basic legal act regulating most issues related to this tax. It contains instructions on who is subject to VAT and who can benefit from the exemption, what goods and services can avoid taxation and how to document transactions. From the beginning of 2014, the act also includes most of the provisions regulating the principles of issuing invoices. It also explains the seemingly complicated settlements in the field of input and output tax.

On January 1 and April 1, 2014, significant modifications appeared in the act, affecting the majority of taxpayers. They covered both the tax itself, the dates of its deduction, and invoices. There have been significant changes in the field of cars and the possibility of withholding tax on expenses incurred on them. Therefore, it is worth getting acquainted with the amendments that came into force at the beginning of the new tax year to be sure that the settlement is made correctly.

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