- The Ministry of Finance has clarified new VAT rules for silver coins and other collectibles effective from January 1, 2025
- Two VAT accounting methods are available for art, collectibles, and antiques general rules and margin scheme
- Changes will affect the margin scheme eligibility for imported art, collectibles, and antiques or items acquired directly from artists or their legal successors
- The margin scheme can only be applied if reduced VAT rates were not used during the import or supply of these items
- The VAT rate remains unchanged for these goods under both the general rules and the margin scheme
- New regulations were introduced by the law dated November 8, 2024, aligning with EU Directive 2022/542 which mandates standard VAT rates for such goods if previously taxed at reduced rates
- The implementation of the directive involved only necessary changes
- From January 1, 2025, sales of imported art, collectibles, and antiques taxed at a reduced rate of 8% in Poland cannot use the margin scheme
- This also applies to silver coins classified as collectibles
- Sellers must use general VAT rules, taxing the full value of the goods but can deduct the VAT paid on imports
- Notifications submitted by taxpayers dealing in these items will expire on December 31, 2024
Source: gov.pl
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
