The White List of Taxpayers is a detailed list of information about VAT payers, which was introduced in Poland on September the 1st, 2019. The list is a new and very important tool allowing companies operating in Poland to quickly and efficiently verify the bank accounts of their business partners. Failure to do so can have serious consequences in terms of VAT and income tax, so it’s worth making sure your company is ready to make use of the list in the correct way.
What is the White List of Taxpayers used for?
- to verify whether your business partner is an active VAT payer
- to determine on what grounds a specific decision about your business partner was made (e.g. their refusal to register a company, or deletion from the register)
- to confirm that your business partner has a valid bank account.
The Polish Ministry of Finance has made this special tool available so that companies can verify their business partners. However, access to the White List is currently limited, as you can only make 10 inquiries about a maximum of 30 entities at a time. Once that limit has been reached, access to the White List will be blocked until midnight the same day (00:00). This is not very convenient, particularly for businesses making dozens or even hundreds of bank transfers every day.
What can Hicron offer?
We’ve been supporting businesses all over the world for over ten years now, rolling out various IT systems. We place a particular emphasis on ensuring that our solutions are tailored to local requirements – especially legal and financial regulations. Hicron Whitelist is a tool that automates the process of verifying your suppliers, saving you time and increasing the financial safety of businesses operating in Poland.
All of these advantages are part of the SAP system in place at your company.
What are the advantages for your company?
With Hicron Whitelist, you can automatically verify the following:
- your business partner’s bank account number, when making a transfer (F110)
(guaranteeing that the customer’s account is on the White List of Taxpayers)
- all invoices entered into the system
(instead of verifying each supplier manually – bringing you time and costs savings)
- the veracity of customer details when creating supplier accounts in the system
(get a head start with automatic verification)
- all of the suppliers on the list of your company’s business partners
(also automatic – without the limits currently imposed by the Ministry of Finance’s tool).
In November, the Polish Ministry of Finance will update their White List tool to remove the restriction on the number of inquiries you can make. This update is part of a solution prepared by HICRON.
If you have any questions concerning the HICRON Whitelist, or if you’re looking for a partner to help you implement a project in the Polish branch of your company, or if you need confirmation that specific functionalities will be available in our version of the tool, feel free to contact us.