SAF Bank Statements reports? Draft Act in the making
The Ministry of Finance is taking the entrepreneurs by surprise again. There is a high probability of new duties arising for companies in the scope of Standard Audit File. The latest draft act covers the daily delivery of SAF Bank Statements files. What does this mean for businesses in a practical sense?
SAF Bank Statements
The project dated 22nd of May, 2017 was dispatched for public consultations, with a request for making possible remarks by 31st of May, 2017.
The act is intended to prevent aggressive tax optimization as well as VAT frauds. But it may turn out to be problematic for many companies – not just big corporations but also for companies from the SME sector.
SAF – when will the changes happen?
If the act passes the legislation procedure, the new duty will be imposed on companies as early as on the 1st of September, 2017. The first delivery will probably include data from that day and it will have to be delivered on the 2nd of September, 2017.
The biggest surprise is the fact that SAF Bank Statements regulations will apply to companies which were not liable to this duty so far. According to the plans of the Ministry of Finance, small and medium enterprises were to start the possible delivery of the Single Control File on demand only on the 1st of July, 2018. Until now, their only duty was to deliver the monthly SAF Bank Statements reports.
In the event of regulation entering into force, large, small and medium enterprises will have to not only increase the frequency of reports’ delivery, but also send them daily – and not just on demand. The only type of entities not included in this act are micro-enterprises as well as entities which belong to the public finance sector.
A very fast implementation date of the SAF Bank Statements automated delivery seems to be the problem. This issue seems to be particularly difficult because the implementation of the right solution requires a certain amount of time and resources. Therefore, it is possible that not all companies will succeed in adjusting their systems.
The September deadline will probably force entrepreneurs to adjust their systems to new regulations. Companies which do not comply with this responsibility shall be subject to sanctions. The sanctions can range from 2,800 to 17,769,600 PLN.
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- On 19/06/2017
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