Paweł Cabaj
Head of Business Development
Ensuring tax compliance is a challenge faced by both domestic and foreign entities. Failure to fulfil formalities related to VAT settlements or incorrect tax settlements creates significant legal and business risk and generates additional costs arising from potential penalties. KR Group supports entrepreneurs in ensuring full compliance with regulations when fulfilling tax obligations.
Monthly VAT Compliance – for whom?
KR Group provides VAT settlement services for companies with a registered office in Poland, Romania, the Czech Republic, Hungary and Slovakia, regardless of size. KR Group’s Client portfolio includes both e-commerce sector start-ups, large retail sector companies, and large capital groups from the real estate sector.
Monthly VAT Compliance support is particularly recommended for businesses that need ongoing control over the correctness of VAT settlements and the maintenance of VAT registers.
The solution is used by entities that value systematic verification of accounting documents, the correctness of tax reporting and the proper determination of the amount of tax due or VAT refund. Such support is also important for companies processing a large volume of data and transactions, where traditional VAT settlement review can be difficult due to the scale of operations. Such entities also frequently have a need to correct VAT for previous periods.
Monthly VAT Compliance at KR Group
Thanks to innovative solutions applied in the area of VAT Compliance, KR Group Clients receive professional and proactive support in the processes of VAT settlement and tax obligation management. This approach contributes to the effective reduction of tax risk and the increase of settlement security.
VAT Compliance at KR Group also includes a proprietary and modern tool – the KRG Portal – providing ease of use and a user-friendly interface. Automated notifications remind taxpayers of upcoming deadlines, and the round-the-clock electronic archive (24/7) enables constant access to all submitted documents together with official acknowledgements of receipt from tax authorities.
KR Group uses its own, developed VAT procedure verification solutions, used to identify risk areas in VAT settlements, which were modelled on our audit tools, while providing a considerably more detailed view of internal procedures. Identification takes into account the weight of a given issue and the consequences of any irregularities, which ultimately translates into conscious tax risk management. In this way, the scope of VAT settlement verification is reduced, and consequently the cost of tax settlements is lowered, generating significant savings and improving settlement security.
Thanks to an extensive network of international and verified partners, KR Group also implements projects beyond the countries in which it has its own offices in Poland, the Czech Republic, Romania, Slovakia and Hungary.
Monthly VAT Compliance – KR Group offer
- Review of VAT documentation.
- Implementation of required corrections based on the data provided.
- Preparation of the relevant VAT registers in compliance with local VAT regulations.
- Preparation and submission of monthly VAT returns and reports.
- Delivery of the final tax report together with scanned copies of all submitted documents in electronic format.
- Preparation or verification of the Standard Audit File for Tax (JPK_V7).
- Assistance with VAT refund procedures.
- Support during tax audits, including preparation for audit activities and representation before the tax authorities.
- Assistance with registrations for VAT, Intrastat, EORI, OSS, and IOSS.
FAQ
What does VAT Compliance support involve?
VAT Compliance support involves ensuring full compliance of settlements with applicable tax regulations and the correct fulfilment of VAT obligations. It covers ongoing verification of the correctness of tax settlements, clarification of tax obligations and support in the preparation of required VAT reporting and reports.
Who can use the VAT Compliance service?
Monthly VAT Compliance support is particularly recommended for:
- entities that need support in the area of maintaining VAT registers, combined with verification of the correctness of documents and then calculating the tax due or refund on their basis;
- entities that value the verification of a sample of documents and improvement of the quality of tax reporting;
- entities for which a traditional settlement review is impossible due to the volume of records;
- entities that would like to verify their internally adopted procedures, not just the settlement of individual transactions;
- persons taking over supervision of VAT settlements who would like to quickly assess their safety for the company and themselves;
- persons who want to eliminate or maximally limit their personal liability arising from penal fiscal regulations.
Does KR Group also support entrepreneurs on a project basis?
Yes. At KR Group we operate both on a project basis and within the framework of ongoing monthly support, by taking over the majority or a significant part of the responsibility for settling transactions from a VAT perspective and preparing periodic settlements.
We can limit ourselves to the preparation and submission of VAT declarations on behalf of your company, but we can also go a step further by conducting a detailed examination of the quality of purchase/sales invoice booking processes (AP/AR). Alongside process improvements, we also offer improvements in the area of IT tools used [LINK to technology].
Why choose KR Group for VAT Compliance support?
KR Group provides comprehensive VAT Compliance support, focusing on the full compliance of settlements with applicable tax regulations and the correctness of current VAT settlements. A team of qualified experts helps in clarifying tax obligations and preparing required reporting and tax reports.
What distinguishes KR Group is a practical approach to advisory, where the proposed solutions are tailored to the business model. Clients can also count on timely completion of tasks and high quality support in managing tax obligations.
Why is VAT Compliance important for the company's tax security?
Running your own business, especially in today’s times, is no easy task. Beyond the constantly changing market, development of offered services and sales, a key element of running a business is compliance with and correct fulfilment of tax obligations. Deficiencies, shortcomings, failure to fulfil obligations or errors in VAT settlements may result in the imposition of severe, multimillion-dollar financial penalties. Legal liability is also borne by persons responsible for failing to fulfil these obligations.
We will offer you the VAT Compliance service, in which we will analyse your needs, help you fulfil all reporting obligations and together minimise the risk of inspections by tax authorities.
Within the framework of monthly VAT Compliance, does KR Group monitor tax changes and VAT rates in CEE countries?
Yes, as part of the VAT Compliance service, KR Group continuously monitors changes in tax regulations and current VAT rates in Central and Eastern European (CEE) countries. We provide a regular tax newsletter in which we inform about the most important changes in VAT, e-commerce and international regulations.
Is the VAT Compliance service aimed exclusively at foreign entities registered in Poland?
No, the VAT Compliance service is a solution for all companies obliged to settle VAT, both in Poland and in other European Union countries. The services are used not only by foreign entities but also by Polish businesses conducting domestic and cross-border sales.
What are the basic VAT rates in CEE countries: Poland, Romania, the Czech Republic, Slovakia, Hungary?
The basic VAT rates in CEE countries differ depending on the country and are: Poland – 23%, the Czech Republic – 21%, Slovakia – 23%, Romania – 21%, Hungary – 27%. Knowledge of current VAT rates in the CEE region is key for companies conducting international sales and e-commerce, as it affects the correct settlement of VAT.
