New invoicing regulations: an upcoming challenge for companies

In July 2024, changes in the invoicing processes for businesses in Poland will come into effect. These changes entail the necessity for companies to adapt to a new electronic invoicing method, which may prove challenging, especially for those already operating in the market.

🌐 National System of e-Invoices (KSeF): Managed by the Ministry of Finance, it has allowed voluntary use of e-invoices since January 1, 2022. From July 2024, it becomes mandatory for B2B transactions.

🔄 Legislative changes:

• Mandatory KSeF for all B2B transactions from July 2024, except for exempt taxpayers, whose obligation begins in early 2025.
• Sanctions for non-compliance starting January 2025, reaching up to 100% of the VAT value on the invoice.

💳 Invoices from fiscal cash registers: Will remain in the current format until the end of 2024.

❌ Exclusions from KSeF after July 1, 2024:

• Consumer invoices (B2C);
• Tickets serving as invoices;
• Invoices from One Stop Shop (OSS) and Import One Stop Shop (IOSS) procedures;
• No corrective notes in KSeF.

💱 Currency conversion: The currency exchange rate will be maintained from the day preceding the invoice date for an additional day before submitting it to KSeF.

🔄 Process changes:

• Clarified invoice issuance dates.
• Emergency procedures and offline mode.
• Ability to issue corrective invoices during emergencies and in offline mode.

🚀 Summary: The new regulations not only serve as a measure against VAT fraud but also present an opportunity for process improvement for companies. However, this requires careful preparation and implementation of necessary changes.