What are the record obligations in the lump sum taxation?
If you tax your income from economic activity (as a sole trader or a partner) in the form of a lump sum on registered income tax, you have several duties resulting from this form of taxation. As a lump sum payer you should have and maintain the proofs of purchase of goods and keep:
- revenue records (separately for each tax year),
- a list of fixed assets and intangible assets.
- records of the equipment,
- if you hire employees under a contract of employment, set up a revenue cards (see Regulation of the Minister of Finance of 17 December 2002 on keeping revenue cards).
In the lump sum taxation you do not need to keep records of costs.
- Revenue records
Record keeping obligation arises as from the date on which the tax in the form of a lump sum is applicable.
A model register is laid down in the Annex to the Regulation of the Minister of Finance of 17 December 2002 on keeping records of revenue and the list of fixed assets and of intangible assets.
Taxable persons carrying out the activity in the form of partnership shall keep a common record.
You must combine all cards and number them consecutively.
You make records on the basis of:
- VAT RR invoices;
- invoices and customs documents, hereinafter referred to as invoices, if the sale is documented by invoices;
- in the case of sale without invoices — on the basis of internal proof issued at the end of the day, in which in one amount is shown the value of these revenues for that day broken down by revenue covered by the lump sum on registered income.
Records of the daily revenue can be made on the basis of daily statement of invoices. It should include at least:
- number of the statement;
- number of invoices included in the statement;
- the date of the invoice covered by the statement;
- the total revenue derived from those invoices, broken down by revenues covered by the different rates of lump sum on registered income tax.
In case you use a fiscal cash register, you make entries in the record on the basis of data from the daily or monthly reports amounts affecting the revenue. On the back of the daily/monthly report you enter the total revenue resulting from this report, broken down by the individual rates of a lump sum on registered income.
You should make entries in the records in chronological order on the basis of the aforementioned evidence, not later than the 20th of each month for the previous month.
If you are taxable person for VAT not obliged to record trading by means of cash registers, providing trade services and you make sales taxed and exempt from tax at different rates, you can record revenues together with VAT. In this case, at the end of the month you decrease the revenue by income tax on goods and services due.
If you keep VAT record, you may be exempt from keeping records of revenues. Certain conditions must however be met:
- the data shown in this record will help to distinguish from turnover within the meaning of the provisions of the Goods and Services Tax Act, income for a lump sum of registered income tax;
- at the end of each month, by the 20th day of the month you draw up the statement in which you show the revenues on the basis of the data contained in the records according to the individual rates of the lump sum, taking into account the difference between turnover within the meaning of footnotes to the Goods and Services Tax Act and income within the meaning of the Act on income tax.
In the case of deductions from revenue (including contributions to ZUS) a person keeping records of revenues is obliged to show deductions separately in records and reduce revenues by amounts their taxable income.
These records can also be carried out using IT. However, at the end of each month by the 20th day of the following month, the taxable person is required to draw up a printout of the entries for the month in question. The printout should be in accordance with the model records set out in the Annex to this Regulation.
- List of tangible and intangible fixed assets
A list of fixed assets and intangible assets should include at least the following data:
- serial number;
- the date of purchase;
- date of put into service;
- identification of the document proving acquisition;
- determination of the fixed asset or an intangible asset and legal asset;
- the symbol of Classification of Fixed Assets (KŚT) issued on the basis of separate provisions;
- initial value;
- depreciation rate;
- the updated initial value;
- the date and cause of the liquidation or the date of disposal of an fixed or intangible asset .
Entries of fixed and intangible assets should be put in the list at the latest in the month of their putting into service. Postponed date of introduction to the list is considered to be an asset disclosure.
All cards should be combined and numbered in sequence.
That list may be kept in electronic form.
- Equipment records
Equipment records cover tangible assets related to conducted economic activity, not included in fixed assets, whose book value is higher than PLN 1 500.
Records of equipment should contain at least the following information: sequence number of the entry, the date of acquisition, the invoice number, the name of equipment, the purchase price or production cost of equipment, the date of decommissioning, including also the date of purchase or gift, reason for the liquidation of equipment.
- Place of storage
Records and evidence on the basis of which entries in the records are made, as well as proof of the purchase you should keep in place of business or, if the activity is to be carried out in the form of a partnership, at a place designated as their registered office, or in the accounting office entrusted with the keeping of records. If the record keeping was entrusted to an accounting office, you must, within 7 days from the day of the conclusion of the contract with the accounting office inform the competent head of the tax office.
- Regulation of the Minister of Finance of 17 December 2002 on keeping records of revenue and the list of tangible and intangible assets