Taxes on products - D Sample Clauses

Taxes on products - D. 21 In Poland the only beneficent of indirect taxes is central government sub-sector. Taxes on products include following categories: - value added taxes (VAT), - customs duties, - excise, - gambling and lotteries taxes, - receipts from sugar levies. Methodology of calculation indirect taxes is in accordance with Regulation (EC) No 2516/2000 of the European Parliament and of the Council of 7 November 2000 modifying the common principles of the European system of national and regional accounts in the Community (ESA95) as concerns taxes and amending Council Regulation (EC) No 2223/96. The information is available monthly (40 days after the reference period) from the Ministry of Finance. Taxes on products are recorded on a cash basis in the budgets and the data have to be retreated to become consistent with ESA95 rules. For calculation of indirect taxes two methods were applied. Data used for recording gambling and lotteries taxes and receipts from sugar levies is available on a cash basis and this data have to adjust to an accrual basis. In order to make this adjustment the data on claims are used. In the case of VAT, customs duties and excise the Central Statistical Office use cash receipts and one month time adjustment is applied. VAT taxes are based on self-assessment, which means that the taxpayer sends to the government a return showing the amount of tax to be paid and then pays that sum in due course. For VAT, a correction is made for the time difference between the payment date and the period to which it refers. For any given quarter, revenues related to economic transactions which took place during the previous quarter have to be deducted from the cash-based VAT amount, and similarly revenues in respect of economic transactions taking place during the quarter in question but collected during the following quarter have to be added. This operation gives the amount of VAT on the basis of “time adjusted cash registration”. It must be underlined that when the first estimation of the indirect taxes figure for a given quarter is calculated, only data for the first two months is available and it is necessary to make a forecast for the third month of the time adjusted quarter (for example: when calculating data for second quarter, only data for May and June is available and data for July must be estimated). To do so the Central Statistical Office use monthly report on budget realization prepared and published (15 days after the reference month) by the Ministry...
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