Further changes concerning VAT already in July

Further amendments to the Good and Services Tax Act were introduced on 1st July 2015. They concern inter alia the reverse charge mechanism, joint and several liability, bad debt relief and the possibility to use proportions in deducting accrued tax. The introduced amendments should be assessed positively. Even though, some of them involve additional obligations for taxpayers, especially in case of purchasers of sensitive goods, to a great extent the amendment constitutes an answer to the postulates of taxpayers and VAT experts.

Amendments to the Accounting Act

The first reading of the bill on the Accounting Act amendment took place in mid-May this year. The amendment involves some simplifications in keeping accounting books and preparing financial statements. Those amendments result from the EU Directive No. 2013/34/UE. The bill provides for the extending of the list of entities whose financial statements will be subject to an obligatory audit conducted by a statutory auditor. The new obligation will include national payment institutions and electronic money institutions. In addition, there are changes planned in terms of information that is provided by an auditor in a written audit opinion. The act extends the list of entities preparing statements from activity.

New address of our registered office!

We have the pleasure to inform you that as of 1 July 2014, Capital Audyt has a new location of its registered office – ul. Młynarska 42, 01-171 Warsaw (1th floor).  .