White list of VAT taxpayers - Bank account verification
How the Mass Payment Verification Tool works
The tool offered by PwC enables comprehensive service of the contractor verification process in order to eliminate the risk of sanctions.
The verification includes:
- Determining whether the contractor is registered as an active VAT taxpayer.
- Determining whether the bank account used by the counterparty is included in the list kept by the Ministry of Finance (the so-called White List).
What regulations are imposed on entrepreneurs?
The regulations impose on entrepreneurs the obligation to verify the bank accounts of contractors (active VAT taxpayers) to which payments are made within transactions with a value exceeding PLN 15,000. In case if the payment is made to a bank account not included in the list kept by the Ministry of Finance, the entrepreneur is exposed to significant sanctions:
- The expense will not be considered as a tax deductible cost.
- The buyer becomes jointly liable for the supplier's VAT obligations (in scope of the payment made).
Functionalities
The tool allows users to verify the mass number of transactions in a simple automated way.
The tool works on the basis of readable and commonly used file formats.
PwC provides technical support for the functioning of the tool.
Identification of obligations according to the current legal status. The tool is updated on an ongoing basis based on the introduced legal changes.
Benefits
Reducing the implementation time of the imposed statutory requirements by simply analyzing large volumes of transactions.
The verification is based on the data included in the list of the Ministry of Finance and the current tax regulations.
Verification treated as part of the contractor verification process, significant from the due diligence, which is i.a., the basis for retaining the right to VAT deduction.
Your payment verification data is collected in one place.
The tool is independent from accounting and financial systems and does not require any changes.
Implementation process
Agreement on technical requirements
Providing the installation file
A short tutorial on the tool
Pricing
The price includes:
- One year license
- Installation support
- Instruction of using the tool
Additional annual license fee required to maintain the ability to use the tool.
Contact us
Are you interested in our tool for mass payment verification?
Leave your details below to contact our experts.
We will reply no later than 5:00 pm on the next business day.
Fields marked with * are mandatory.
By submitting your email address, you confirm that you have read the Privacy Policy and consent to the processing of data in accordance with the Privacy Policy (including international transfers). If you change your mind about receiving information from us, you can send us an e-mail