Taxation might be one of the most challenging elements of running a company. The changes are sometimes so rapid it is difficult to catch up with everything that is going on, even for industry experts. Although many of them are aware of it, errors can still happen when humans are in charge of their operations.
It is especially true with international taxations, where changes are now at least twice, if not more, times as likely as there are more authorities engaged in the process and everybody wants to push their own ideas, which in the long run is often a burden for entrepreneurs.
What is JPK
JPK_VAT is an electronic document that includes a VAT report with purchases and sales for a given tax period along with a VAT declaration (VAT-7 and VAT-7K). It should be filed by every active VAT taxpayer from October 1st, 2020. This includes micro, small, medium, and big enterprises, meaning the change will affect everybody, no matter the scale of your operations.
Its purpose is to verify VAT reports formerly filed as VAT-7 and VAT-7K. Because of that, it doesn’t apply to some entrepreneurs, such as taxi drivers, who only file VAT-12 or others who file different forms, such as VAT-8, VAT-9M, VAT-10, and VAT-14. However, with VAT-7 and its variations being one of the most popular solutions, the change will still affect most entrepreneurs operating in Poland and doing business in the country.
What is included in JPK_VAT
JPK_VAT is a complicated document. Preparing everything necessary to file it correctly might take time, and even then, the process itself is often daunting. A standard JPK_VAT form includes:
- Information about the company’s purchases and sales for a given VAT period
- Everything included in former VAT-7 or VAT-7K filings
- Additional data necessary to correctly settle the accounts
Although the filing of JPK_VAT was supposed to make it easier than the previous solution, because it is now a more complex document, it creates more possibilities for errors. Every entrepreneur has to file it monthly, until the 25th day of each month, for the previous month (unless it is a Saturday or a holiday, in which case the deadline gets moved to the next business day).
There are 2 types of JPK_VAT forms, depending on the frequency of your filings. You can either send it monthly as JPK_V7M or quarterly as JPK_V7K. However, even after choosing the second option, you will still have to file it monthly, with the difference being that it is now one document, and you have to fill in a specific month’s column every month to create a form that gets completed entirely by the end of each quarter.
S4FN offers SAP add-ons to allow you to report electronically easily and conveniently. We offer a variety of solutions, ranging from SAF-T and JPK compliance to invoicing, and much more. Our main goal is to provide easy-to-use solutions for everybody, no matter your background in computers or accounting, so we always make sure everybody will be able to take full advantage of our solutions.
All you need to use the add-on is SAP, which is the most popular software for controlling the day-to-day operations of your business. You can now get our add-ons and easily add them to your software, with no upgrade needed, making the process as quick and smooth as it gets.
How we can help
Depending on the size of your company, it is often not worth it to hire an accountant, let alone a group of accountants to handle all the paperwork. As an entrepreneur, you naturally want to save as much money as possible to scale your business even more efficiently, and we are here to facilitate this growth.
We offer SAP integration services to help you file your corporate taxes quicker, easier, and, most importantly, cheaper than having a team of accountants working for you. We take pride in every company that has increased their revenue because of our solution and have a lot of reasons why yours should join this list.
Why you need a JPK solution
Filing tax information can get complex but what is even more difficult is having to pay fines for errors on your files. Depending on how many errors there are, they might get extremely severe. Sometimes, they are lifted when proper changes are made, but that is not always the case.
On top of that, having made a mistake once, authorities might now pay more attention to your business, further scrutinising it, asking you for more documents, creating even more possibilities for high fines, which might at some point affect your business, maybe even to the point beyond reparation.
How it works
We offer easy-to-use SAP add-ons that you can start using today. There is no update or upgrade necessary to your software, meaning you can directly connect to it and start filing your tax reports. Once done, you can easily send them to the appropriate authority, the Ministry of Finance.
To find out more about how our services can help you click here to get a quote for your company or request a demo to see how you like our services and how they can help you improve your daily operations.
Growing with you
Taxation isn’t easy, especially when you don’t want to spend money on accountants. We offer affordable solutions to help you save time, money, and energy that you can use elsewhere to further scale your business like never before.
S4FN is here to make your life easier. We offer a variety of solutions to businesses, helping them get the most out of every day they operate using the power of SAP. We offer solutions fully tailored to your needs and updated constantly to make sure everything stays up to date with the newest regulations. We also educate entrepreneurs on those topics to help them get the most out of what they do and get one step ahead of their competition.