We would like to inform you that during last Friday’s session of the Sejm, significant changes were made to the tax law.
A law was passed amending the VAT Law – the so-called “SLIM VAT 3” package.
Among other things, the regulations provide for: raising the sales limit for a “small taxpayer” to EUR 2 million, dropping the requirement to have an invoice for WNT when deducting input tax therefrom, simplification at the proportion of input tax adjustment, or changes to “VAT sanctions.”
The bill was sent to the Senate. It would take effect in principle from 1st July 2023.
A law has been passed amending the VAT Act – e-commerce
The legislation is an implementation of EU regulations – part of a package to combat VAT fraud in the e-commerce area (amendments to the e-commerce VAT package).
The bill has been sent to the Senate. They would take effect in principle from 1st January 2024.
Senate amendments to changes in family foundation regulations rejected
Thus, the amendments are to go into effect – including: the introduction of a 10% income tax rate for beneficiaries in tax groups I and II, the possibility for a partner of a company taxed with “Estonian” CIT to establish / be a beneficiary of a foundation, the introduction of taxation of “hidden profits” and certain restrictions on transactions with related parties.
The bill has now reached the President’s desk. The changes are expected to take effect from the very beginning of the family foundation legislation (22nd May 2023).