The SLIM VAT 2, Simple Local and Modern VAT 2 package, adopted by the government, constitutes the second set of solutions regarding the tax on goods and services, as the first SLIM VAT package came into force in January this year. SLIM VAT consists of a number of simplifications, developed in consultation with the business community, which are intended to reduce some of the current obligations of entrepreneurs in relation to the settlement of VAT.
The Slim VAT 2 package is also a response to the demands of entrepreneurs addressed to the Prime Minister and the Minister of Finance regarding the need to counteract the negative socio-economic effects of the COVID-19 pandemic.
The solutions proposed within the SLIM VAT 2 package concern, among others, settlements of WNT, import of services and settlements of tax on import of goods. They also assume implementation of several changes to the Banking Law Act. However, despite the fact that the draft bill is quite extensive, the primary objective of the new regulations is to reduce the number of obligations for entrepreneurs.
The key solutions of the SLIM VAT 2 package include:
Most of the solutions of the SLIM VAT 2 package are expected to come into force on 1 October 2021.
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