Aleksandra Węgielska discusses the rules for using a VAT account. A VAT account is primarily used for transactions involving the split payment mechanism (MPP) and is typically opened by a bank or SKOK for entrepreneurs with settlement accounts or personal SKOK accounts related to their business activities.
Key points covered include:
1. **Opening a VAT Account:** The VAT Act mandates that taxpayers engaged in specific activities, like construction services, must have a settlement account or personal SKOK account in Polish currency. Banks or SKOKs open VAT accounts for eligible entrepreneurs, including those exempt from VAT.
2. **VAT Account Number:** The VAT account number is for reference only and is not included in invoices. Transfers using the MPP are made to the entrepreneur’s settlement account, and the bank credits the corresponding amount to the VAT account based on the transfer message.
3. **Transferring Funds:** Funds can be credited to the VAT account through various sources, such as VAT payments, transfers from another VAT account of the holder, or returns related to VAT.
4. **Using Funds:** Funds in the VAT account can only be debited for specific purposes, including paying for goods or services, VAT, penalties, interest for late VAT payments, and certain taxes.
5. **Releasing Funds:** Taxpayers can request the transfer of funds accumulated in the VAT account to a specified bank or credit union account. The tax office has 60 days to approve or reject the request based on specific criteria, such as tax arrears.
6. **Application Process:** There is no specified deadline for submitting a request to release funds, and there is no official template provided by the VAT Act. However, taxpayers need to specify the amount to be transferred, the VAT account details, and the destination account.
Source: pit.pl
