Can premises and residential buildings used for business purposes be depreciated?
Currently, the tax authorities take the position that the depreciability of premises or buildings is determined by the classification of the object as residential or commercial, and not by the actual use of the object for purposes other than residential.
What you need to know about The National e-Invoicing System (KSeF).
The National e-Invoice System is to become mandatory as of July 1, 2024. The advanced legislative stage of the government’s project indicates that this deadline seems realistic. The above means that entrepreneurs have less than a year to prepare for the upcoming revolutionary changes. Given that fulfilling KSeF-related obligations requires a significant commitment, taxpayers should be aware that, counter-intuitively, they do not have much time to begin the process of implementing KSeF in their organization. Please find below a summary of the most important issues to consider as part of this process.
What is a structured invoice?
A structured invoice is currently one of several available forms of documenting business transactions (in addition to paper invoices and electronic invoices). A structured invoice is considered to be an invoice issued using the National e-Invoice System (KSeF) with an assigned unique number identifying the invoice in the system (the so-called KSeF number). The KSeF number consists of 36 characters and is assigned automatically by the system.
Requirement to issue structured invoices
According to the current version of the draft law of June 16, 2023, on amendments to the Law on Value Added Tax and amendments to certain other laws, mandatory e-invoicing will come into effect on July 1, 2024, and for taxpayers exempt from VAT by subject or object on January 1, 2025.
QR code as a way to verify structured invoice
The requirement to mark a visualized structured invoice, e.g. either in PDF format or to paper, with a verification code is another of the new obligations to be imposed on VAT taxpayers in connection with the planned introduction of the mandatory KSeF. Marking the visualization of an invoice with such a code will make it possible, in particular, to verify that a given invoice was issued in KSeF and that the data on it is correct.
New obligations and new penalties – a few words about the mandatory KSEF
As a result of the planned introduction of mandatory KSeF, taxpayers will not only be subject to new obligations but, at the same time, if they fail to comply with some of them, they will face negative financial consequences.
Illegal energy extraction as a supply of goods for consideration – CJEU judgment
On April 27, 2023, the CJEU issued a judgment in Case C-677/21 (Fluvius Antwerpen vs. MX) concerning the VAT taxation of illegal consumption of electricity by an individual. In the case under review, the distribution system operator, after discovering the non-contractual consumption of energy, issued an invoice for the supply of electricity to the aforementioned individual containing VAT. The amount due on the invoice was calculated on the basis of the actual energy consumption of this person based on the metered meter.
Changes in transfer pricing for 2022
The legislator has already acclimated us to annual changes in transfer pricing regulations, especially during the Covid-19 pandemic period. Therefore, in order to properly fulfill reporting obligations, it is important to stay up-to-date and be aware of the changes that have been made in this regard for 2022. One of the most important changes is one concerning the deadlines for the preparation of the documentation itself and the related forms.