05.16.23

Slim 3 reforms

Poland’s fiscal trajectory in 2022 was a busy one as it frequently altered its tax rates in an era of economic uncertainty. This, along with other fiscal initiatives, were condensed into a package what is known as the ‘SLIM’ package. Poland is currently in the midst of implementing ‘SLIM 3’.

The SLIM 3 package was finally approved in March 2023- but its implementation date has now been delayed to July 2023.

Slim 3, as expected, is extensive, covering the following issues:

• The lack of need for an invoice to settle VAT
• Further VAT exemptions
• Further transparency with respect to VAT bindings
• The option to transfer funds deposited in VAT accounts of VAT group members
• Reduction of certain VAT penalties

SLIM 3 strives for the simplification of fiscal practices in the country, with the aim of creating a process that is streamlined, accessible and simple to facilitate.

The Polish government has already referred to a SLIM 4 package, where known details in relation to the same are sparse. Tungsten Network will follow developments in relation to the same, ensuring that any VAT rate changes are incorporated as part of our e-invoicing solution.