POLAND INTRODUCES REVERSE-CHARGE VAT FOR STEEL PRODUCTS
August 1st, 2013
The Polish government has introduced reverse-charge VAT mechanisms for the steel sector, to crack down on tax evasion in Poland’s steel market.This means steel consumers rather than producers will pay VAT to the government. Warsaw acted using new powers granted by the EU in July, which allow national governments to impose reverse charges without asking the EU Council of Ministers permission, as in the past.A key target here is the imported rebar market, which has been riddled with VAT fraud, Polish steel industry officials told Steel First. The result has been ...
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