Market news from 4biz2.biz (second half of 2019)
New version of the 4biz2.biz portal
In November our marketplace/ecommerce 4biz2.biz portal was rebuilt. New layout, new page layout, even greater ease of use and new possibilities. We ecourage to visit the website, register and add ads: https://4biz2.biz/en
Entry into force of the Act on Small ZUS
On November 21, the Polish Government adopted a bill to introduce a small ZUS for companies, calculated on income. The new solution will be able to benefit over 300,000 micro-enterprises, whose revenues for the previous year did not exceed 120,000. PLN and monthly – approx. 6 thousand PLN. It can be used by entrepreneurs whose average monthly income in 2018 did not exceed 2.5 times the minimum wage, i.e. 63 thousand PLN annually. This will give a minimum of several hundred zlotys in savings per month.
On September 14, the EU PSD2 directive on payment services entered into force. All European Union countries must adapt to it. It is to increase consumer safety and more effectively protect them against the phenomenon of fraud in non-cash transactions. Increasing the level of electronic transaction security will be based on strong customer authentication. The way you log in to the banking / electronic payment services will change.
White list of VAT payers
On September 1, 2019, a list of information on VAT taxable persons began to operate, which is a tool designed to help companies effectively and quickly verify their potential contractors. This list replaced the existing lists of VAT taxable persons – registered and unregistered, as well as deleted and restored to the said register.
On November 1, 2019, the reverse charge mechanism was replaced by the obligatory split-payment mechanism of VAT (they were listed in Annex No. 15 to the VAT Act). Every taxable person selling and purchasing these goods or services must have a bank account or a personal bank account opened in connection with their business activities. Using a personal invoice is not possible in this case.
PIT ZERO for young people
On August 1, 2019, the Act on zero PIT for people under 26 entered in Poland. It concerns income from employment (service relationship, employment relationship, outwork and cooperative employment relationships) and from mandate contracts concluded with the company, achieved by persons under 26 years of age (amount not exceeding 85,000 528 PLN in the current tax year) . Unfortunately, persons employed for a student internship or under graduate internships will not be able to take advantage of the discount. It is also worth noting that the savings will not amount to 18%, but only 8. This is due to the fact that people covered by zero PIT are only exempt from paying tax, but not from the health insurance premium.
Electronic invoicing of orders
In Poland, on August 1, 2019, the obligation to electronically invoice all public contracts came into force. The obligation applies to proceedings initiated from the date of entry into force of the Act (18.04.2019) and to contracts concluded as a result of such proceedings.
PIT rate reduction to 17%
The Polish government adopted a bill to reduce the basic PIT rate from 18 to 17%. According to average calculations, Poles will have about 50 PLN more in their wallets. 25 million Poles are to benefit from the changes. The only minus is a decrease in revenues to the state budget by over 9 billion PLN per year. The PIT reduction to 17% will apply to income obtained from January 1, 2020.
Unemployment – the most recent data and detailed report under this link (currently unemployment is 5.1%): Registered unemployment – data from the end of September 2019
Ranking of loans for companies – https://www.ebroker.pl/kredyty_dla_firm
Reference rate – no change, it is still 1.5%
With kind regards, team of GC “Agroliga”.