It is already worthwhile to start preparing for the mandatory KSeF
Taxpayers are already less than a year away from the entry into force of legislation obliging VAT taxpayers to implement another revolution in the way they report data to the tax authorities. The National e-Invoice System will be in force from 1 July 2024 and will oblige taxpayers to issue and make available so-called structured invoices, which will be available to the tax authorities in real time - Grzegorz Arczewski, senior manager at Thedy & Partners, writes in Rzeczpospolita.
The implementation of KSeF means, above all, new obligations for taxpayers, including not only the need to adapt accounting systems to the requirements of KSeF, but also the need to rebuild the existing model of document circulation in companies, as well as to adapt procedures to the substantive changes associated with the implementation of KSeF.
To begin with, an important analysis …
The main challenge for taxpayers will be to identify all types of transactions that will fall under KSeF and to map all types of documents on the sales and purchase side. As part of this step, taxpayers should analyse the transactions performed (sales and purchase) that will be subject to KSeF reporting under the new rules. This type of analysis will make it possible to identify the transactions subject to the new obligations and those that will not be covered by the new obligations.
… and knowledge of the rules
The educational element of the implementation, i.e. the organisation of trainings and workshops aimed at familiarising taxpayer’s personnel with the substantive changes in the VAT Act resulting from the implementation of the new obligations from 1 July 2024 (such as new rules for the settlement of corrective invoices, rules for the application of exchange rates, sanctions, etc.), seems to be equally important.
In doing so, it should be borne in mind that KSeF responsibilities are not limited to accounting/finance staff, but also affect other teams, in particular commercial staff and clearly IT staff.
It is therefore important to hold combined workshops for all competences to clarify the individual KSeF responsibilities and their impact on the other competences.
You can read the entire article in Rzeczpospolita of 20 September 2023, page H5