Cashless Taxpayer Program - a new proposal of the Ministry of Finance for entrepreneurs
The Ministry of Finance has proposed a new solution for entrepreneurs - the Cashless Taxpayer program, which is addressed to entities that make the majority of payment transactions in the cashless system. What criteria must be met to become a program participant? We also checked the benefits of the newly announced program!
Who is the Cashless Taxpayer program aimed at?
The new Cashless Taxpayer program proposed by the Ministry of Finance is aimed at entrepreneurs who make transactions payable mainly through the cashless system.
The cashless system is a modern technological solution used in finance. It is used primarily for transactions in which the turnover takes place in a non-cash form.
What does the Cashless Taxpayer program offer?
The Cashless Taxpayer program offers entrepreneurs the benefits of discounts under two available packages, from which the taxpayer will be able to choose one of them.
Reliefs remaining within the scope of a given package will be available to entrepreneurs after meeting certain conditions.
The first package offered by the Cashless Taxpayer program is the SILVER package, which includes an income tax relief for the terminal. This package is addressed to entrepreneurs who did not accept payments using a payment terminal in the last year and to those who took advantage of the Cashless Poland program, accepting non-cash payments after the end of the program. After finalizing the program, these entities will be able to benefit from the terminal tax preference from the moment of incurring expenses related to the handling of non-cash transactions for a period not longer than 2 years.
If the taxpayer meets the conditions to take advantage of the relief, he will be able to recognize in the tax deductible expenses the full amount of expenses related to the purchase of the payment terminal and the processing of payments made through it.
In addition, the costs can be deducted from the income in the form of a tax credit, the maximum amount of which is PLN 1,000 or PLN 2,500 for entrepreneurs who are exempt from the obligation to have cash registers.
GOLD package, i.e. a cashless taxpayer
The GOLD package offered by the Cashless Taxpayer program is intended for entrepreneurs who meet the conditions to be a cashless taxpayer. The Ministry of Finance explained that at least 80% of this entity's customers are consumers, and sales are recorded at the online cash register in the amount of PLN 50,000 per month of turnover - which, according to GUS reports, constitutes one-fourth of the average retail sales. This entrepreneur should also settle the sale in a non-cash form, in at least 65% in a non-cash form, and in the next two years in 80%.
This package guarantees taxpayers an indefinite allowance for the terminal with a possible deduction of 200%, of which the deduction limit in a given year will be PLN 2,000. However, in order for the entrepreneur to be able to take advantage of the tax relief, he will have to be a non-cash taxpayer for at least 7 months in a given year.
The Cashless Taxpayer program as part of the GOLD package will allow - for each PLN allocated to handling non-cash transactions - to reduce income by PLN 3, and then by another PLN 2 in connection with the discount for the terminal.
Another proposal is a faster VAT refund within 15 days, because, in the opinion of the originators, the non-cash taxpayer should be fully accounted for automatically. A faster VAT refund will be possible by comparing the data from the online cash register with the data contained in the uniform control file submitted by the taxpayer. Then, after verification of the tax office, it will automatically refund the tax on goods and services with a minimum of formalities.