Split VAT payment and Single Control File for all firms in effect since July
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On July 1, the split VAT payment mechanism came into force, which means that banks will open a separate VAT account for every current account used for economic activity. If a contracting party decides to pay an invoice with a split payment, the VAT amount will go directly to the VAT account, while the net portion – to the regular account. At the same time, the Simple Control File regulation has expanded to cover all entrepreneurs keeping their books electronically.
