What awaits e-commerce taxpayers in accounting from January 2024?

E-commerce, or electronic commerce, has become a key element of the modern economy. Changes in tax regulations related to this sector will impact many businesses and organizations. It’s worth examining the latest regulations set to be introduced in Poland from January 2024 to better align the Polish tax system with the realities of the e-commerce market and enhance administrative cooperation in the VAT domain.

What are the latest legal changes?

Latest changes in e-commerce accounting for 2024 A law published in the Official Gazette on May 24, 2023, under item 996, introduces amendments to the Value Added Tax (VAT) Act and several other laws. Its aim is to implement Council Directive (EU) 2020/284 of February 18, 2020, which focuses on increasing administrative cooperation and effectively combating VAT-related fraud in the e-commerce sector.

What are the new obligations for payment service providers in e-commerce accounting?

New tasks for payment service providers in e-commerce accounting A significant change is the introduction of obligations for payment service providers to keep records of payment recipients and cross-border payments on a quarterly basis.

Key points include:

· The obligation to keep records applies to providers who make more than 25 cross-border payments to the same payment recipient within a quarter.

· The records are maintained electronically.

· New regulations introduce precise definitions of cross-border payments and rules for their calculation.

What information must be included in the e-commerce accounting records?

Regulations specify the information that must be included in the records of payment service providers:

· BIC code or other provider identifier,

· Payment recipient details,

· Tax identification number of the payment recipient or another identifier,

· Recipient’s IBAN or another identifier,

· In case of the absence of the payment recipient’s bank account – identifier of the payment service provider acting on their behalf,

· Payment recipient’s address,

· Detailed information on cross-border payments and payment refunds.

What new data storage obligations does e-commerce introduce in 2024?

Data storage in e-commerce from 2024 Payment service providers must store records electronically for 3 years from the end of the tax year in which the payment was made. The sharing of records will comply with Council Regulation (EU) No 904/2010. Importantly, information will be shared both with the member state of the provider’s origin and with the Head of the National Revenue Administration if the provider operates in Poland.

How should e-commerce companies prepare for upcoming changes?

For e-commerce companies, the new regulations mean the need to adapt to new requirements. Key steps include:

· Understanding the implications of the new regulations for business operations,

· Updating accounting and IT systems for proper record-keeping,

· Training employees on new obligations.

Why should you take advantage of BTLA services in the e-commerce sector?

By utilizing BTLA services, you will align with the latest regulatory requirements while gaining analytical tools that will enhance your understanding of transactions and optimize business operations. This is not only a step towards compliance with regulations but also an opportunity to leverage modern mechanisms that support the development and competitiveness of your e-commerce business.