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White list of VAT payers: companies are looking for solutions that verify supplier data

From September 1, 2019, companies can use the white list of VAT payers, which is meant to minimize the risk of unfair and unlawful business practices. In practice, for most companies it means time-consuming verification of hundreds of supplier bank account numbers. Finance departments across the country are urgently looking for automated solutions that will allow supplier verification against the Ministry of Finance's database without affecting the timeliness of payments.

Currently, the white list of VAT payers allows to query one company at a time. The Ministry of Finance announced that, in the coming days, this number will be increased to 10 inquiries on 30 entities each. This information did little to alleviate concerns in finance departments and shared service centers, where hundreds of transfers per day are not uncommon. It turns out, however, that companies dealing in financial process automation can provide a solution.


- New guidelines from the Ministry of Finance regarding the white list of VAT taxpayers may have a significant impact on the efficiency of the financial and accounting departments of any company operating on the Polish market in the coming months, says Krzysztof Czeczot, Managing Partner at ARC Consulting. - The solution is automation that will significantly speed up verification and allow timely settlements. Most importantly, such tools will ensure that the invoice can be deducted from tax, adds Czeczot.

The Ministry of Finance stated January 1, 2020 as the date when each transfer with a value above PLN 15,000 will have to be sent to a bank account verified against the white list. Otherwise, the invoice is non-tax deductible.

An automatic solution based on a list of transfers to be carried out can connect to the search engine of the Ministry of Finance and verify payee details and the bank account numbers against the white list. The tool informs the user about all transfers that satisfy or fail to meet the new requirements. This approach can significantly reduce penalties or audits caused by transfers to accounts not on the white list.