President signed reverse charge bill

On Tuesday, Bronisław Komorowski signed a so called reverse charge bill regarding VAT (value-added tax). According to the amendment, from April 1, buyers, not sellers, will pay the tax imposed on mobile phones (smartphones), mobile computers (tablets, notebooks, laptops and game consoles) as well as some forms of gold and steel products. Estimates show that the state treasury lost PLN 42 billion in 2013 (budget deficit amounts the same), due to inappropriate law. The bill is an amendment to the goods and services tax law established in 2004.