The legal basis for the split payment is the Act of 15 December 2017 on the Amendment of the Act on the Value Added Tax as well as certain other Acts. As of 1 July 2018 we are obliged to maintain additional VAT accounts for accounts and to accept split payments.

 

We will automatically execute orders in form of split payments (we will automatically split an incoming split payment transfer into the net amount and the VAT amount, and they will be credited to the settlement and VAT accounts, respectively). All orders executed as split payments will be executed via the settlement account (there will always be the data of such a transaction in the settlement account history).

 

Split payment settlements will apply exclusively to transactions between entrepreneurs only in PLN. Split payment will not apply to transactions made using payment cards or cash.

 

It will always be the invoice payer who will decide on the manner of payment (normal transfer or split payment).

 

Customers will be the owners of the funds accumulated on the VAT account despite the limited possibility to use them. It will be possible to transfer those funds only to:

  • pay the value added tax
  • pay one’s liabilities towards business partners – only the VAT amount specified in an invoice
  • another own VAT account maintained at the same bank (the act does not provide for transferring funds between own VAT accounts maintained at different banks)
  • one’s own settlement account with prior consent of the responsible Tax Office.