Skip to content
Advertisement

Business

Farmers ignorant of the details of the newly introduced VAT on farm produce

Despite value-added-tax (VAT) being levied on agricultural produce as of today, farmers are unaware of the procedures. In some rural areas, an awareness information campaign has just begun. Banks and other financial institutions servicing the farmers are nonetheless prepared. But it is still unclear whether farmers opening accounts in banks, for the purpose of servicing the VAT, should possess the tax identification codes (NIP and REGON). The confusion could further be exacerbated because only 35% of villagers have bank accounts. Opponents of the VAT on agricultural products are pessimistic about the success of implementing the tax because the low level of knowledge among villagers of banking. (Rzeczpospolita, Sept. 2-3, page A1, B1)

More from Business All