New crackdown on tax cheats could save Poland billions: finance ministry
PR dla Zagranicy
Victoria Bieniek
22.03.2017 08:54
Proposed new laws to crack down on tax cheats targeting the finance sector could inject PLN 32 billion (EUR 7.5 billion) into the Polish budget over 10 years, the finance ministry has said.
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The ministry said that banks are being used by cheats who issue fake invoices for goods or services that were never actually sold in order to claim value added tax (VAT) rebates.
“The idea of the project is to create legal grounds for the tax office to run an IT system in order to conduct analyses of the risk of using banks … [for] tax fraud, especially of value added tax (VAT) and other related crimes,” the finance ministry said.
According to the ministry, the system could become fully operational in June and could see some 10 to 15 percent of the estimated amount of unpaid tax being recovered in 2017.
As such, the finance ministry said some PLN 600 million may be paid in taxes this year, and about PLN 1 billion in 2018, with the system increasingly over time acting as a deterrent. (vb/pk)
Source: PAP