Conference of UNIMOT and MARSH: split payment and sent 2 as primary topics

Date of publication: 27.06.18

UNIMOT S.A. in cooperation with MARSH has organised a conference during which together with invited guests prepared its customers to legal and tax changes. Some of the burning for the fuel sector issues discussed during the conference included introduction of split payment and amendment of the SENT law.

Coming into effect on 1st July the present year act introduces the split payment mechanism was the first topic of the conference organised by UNIMOT and MARSH. The new payment model that gives rise to doubts of entrepreneurs was discussed by the experts from Kancelaria Doradztwa Celnego i Podatkowego Witalis i Rutkowski. Karolina Han-Pławiak and Krzysztof Rutkowski, discussed not only how this mechanism works, but first of all indicted vital for entrepreneurs aspects:

– It should be expected that split payment at least at the initial stage may give rise to financial liquidity problems as part of the financial resources becomes frozen in the VAT account, which can produce managerial problems in case of the fuel industry. – said Karolina Han-Pławiak. – However, it needs to be remembered that split payment is not an obligatory tool as the purchaser each time decides whether and to what extent utilise it. During the conference we strived to allay the doubts of entrepreneurs indicating when and how to make use of it.

Is there a more burning issue than split payment? Yes, it turns out there is. Even more doubts and questions aroused during the panel dedicated to the SENT law and the drawn amendment. What causes such an interest in the issue?

– Due to a general nature of the regulations in practice and higher financial penalties. – explained Karolina Han-Pławiak. The speaker of the conference organised by UNIMOT and MARSH stressed the aspects that owners of fuel sector companies should bear in mind: – The SENT 2 law above all introduces an obligation to monitor rail transports and a change in the scope of transported goods control, it also changes the catalogue of fines, among others, increases from PLN 5 thousand to PLN 10 thousand a financial penalty for the carrier for failure to complete the notification, introduces a new penalty in the amount of PLN 20 thousand for failure to provide the carrier by the sending entity with information on planned control and a penalty in the amount of PLN 100 thousand for failure to deliver the goods to the destination indicated in the notification. – she added.

The partner of organised by UNIMOT S.A. conference was an insurance broker MARSH, which specialises, among others, in insuring trade receivables. Mr Marek Linartowicz – the Head of the Credit and Political Risks Team, Western Region, stressed the fact how important it is to insure receivables from an entrepreneur’s perspective.

The MARSH expert also explained what should be remembered while concluding policies: – The key element of policy conclusion is company’s credit risk analysis and evaluation, conducting negotiations and selecting the most favourable offer (in relation to adjusted to the company’s needs scope and insurance cost optimisation). Full service of the programme is also vital as well as support in claims handling processes and claiming compensation. During the conference we described the benefits resulting from trade credit risk management, discussed processes of creating and negotiating policy conditions, and also the most important areas of brokerage service in the scope of trade receivables.

The conference gathered about 120 representatives of fuel sector companies, who participated in 8 hours of training conducted by three speakers. Apart from MARSH, Kancelaria Doradztwa Celnego i Podatkowego Witalis & Rutkowski, the conference was also visited by experts of Atradius. The organisers are pleased with the attendance and positive opinions expressed after the conference:

– We are pleased with the attendance and reactions of the participants. It has been confirmed that there is a demand for trainings of this kind. UNIMOT as a business partner stands a chance to support its customers in preparing to the forthcoming amendments to the regulations and expanding the knowledge of owners of the companies. – summarised the conference Mr Wojciech Szafałowicz, Commercial Director of the Fuel Department of UNIMOT S.A. – This conference is an excellent opportunity to meet our customers, but above all we are interested in increasing the awareness of the owners of companies we cooperate with, developing their competences and managerial knowledge.