The launch of the National e-Invoice System (KSeF) in Poland will remove from entrepreneurs the onerous and often costly obligation to archive accounting documents on their own. What exactly will the changes introduced by KSeF consist of?
The launch of the National e-Invoice System (KSeF) in Poland will remove from entrepreneurs the onerous and often costly obligation to archive accounting documents on their own. What exactly will the changes introduced by KSeF consist of?
The rules and time for storing invoices are currently set forth in Article 112 of the Law on Value Added Tax. It stipulates that an accounting document must be archived until the statute of limitations on the tax liability expires. In practice (according to the letter of the Tax Ordinance) this means 5 years, counting from the last day of the calendar year in which the deadline for payment of the tax due has passed.
For large companies that issue thousands of invoices each year, the archiving obligation is a considerable logistical and organizational problem. This is because for documents stored digitally, it requires businesses to have the necessary IT infrastructure. It is even worse with traditional paper invoices, the archiving of which requires additional office or storage space. All this exposes the entrepreneur to additional costs. However, the situation is to be changed by the introduction of KSeF in Poland.
Invoice archiving - what will KSeF change?
One of the simplifications to be introduced for companies by the National e-Invoice System is to be the almost complete abolition of the obligation to store accounting documents. Invoices sent to the system will be automatically archived in it for 10 years, which is longer than the current regulations require. Tax officials, accountants and entrepreneurs will have 24/7 access to documents throughout this period. Invoices in KSeF will also be multiplied and backed up. This will solve the problem of lost or damaged accounting documents, which is common in companies, and will relieve entrepreneurs from having to issue duplicates.
Exceptions will be made for documents with a longer statute of limitations on tax liability. The aforementioned Goods and Services Tax Law says that in their case, after 10 years, the taxpayer will be required to store structured invoices independently outside the KSeF.
KSeF - vademecum of an entrepreneur
Want to know more? Our experts have created a vademecum for entrepreneurs preparing for the introduction of the new system. In it you will find answers to the most frequently asked questions about KSeF.
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