The President of Poland signs into law the option to tax financial services starting January 2022

The President of Poland signs into law the option to tax financial services starting January 2022

UPDATE 03/12/2021  

Currently, financial services in Poland are obligatorily exempt from VAT. This deprives financial institutions of the right to deduct the input tax included in the price of the purchased goods and services.

The law introducing the option to tax financial services was signed by the President. It enters into force as of January 1, 2022, which means that the amendments to the VAT legislation will allow taxpayers to charge VAT on B2B financial services. Taxpayers which will choose to exercise the right to tax their financial services will be able to exercise the right to deduct input VAT.

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