How to do Business Investors' Guide Poland - Polish Agency for ...

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members of the management, supervisoryas well as the administrative board forpreparing and publishing financial statements;• corporate governance principles (for publiccompanies only).Probably, together with the changes resultingfrom the above-mentioned directive, otherchanges will be made that are aimed at closerrelations of national accounting rules to IFRSrequirements as well as the adaptation ofsome regulations to new economic realities.2.2. Taxes2.2.1. Taxes in PolandThe taxation system is uniform across theRepublic of Poland, and only small differencesmay appear in local taxes. In general,foreign companies and individuals pay thesame taxes as Polish legal entities or privateindividuals. The exceptions to this rule arebusinesses where taxation is regulated byinternational treaties signed by Poland(Double Taxation Treaties).The main taxes in Poland are:• corporate income tax (CIT);• personal income tax (PIT);• Value Added Tax (VAT);• excise duty;• stamp duty / tax on civil law transactions.All companies intending to conduct businessactivities are given a tax identification number(NIP) after registration with the appropriate localTax Office. Taxpayers are responsible for keepingtheir accounts and proper calculation of tax.2.2.2. Tax system and regulationsAll taxes in Poland are imposed by the governmentin Taxation Acts which set the rulesfor imposing taxes, their rates and duties, aswell as the responsibilities of taxpayers. TheMinister of Finance may be authorised by anAct to decree regulations. All legislation ispublished in official publications, such as theJournal of Laws (Dziennik Ustaw, Dz. U.) andthe Official Journal of the Republic of Poland(Monitor Polski, M.P.).The Tax Ordinance is the most general taxregulation which defines:• the structure of tax administration;• general taxation regulations, e.g. paymentof taxes and issues concerning tax arrears;• tax responsibility of third parties;• tax information;• tax proceedings;• fiscal confidentiality.Taxes in Poland are administered by:• Tax Offices - units supervising the collectionof taxes in their territories. They also issueindividual administrative decisions in taxationcases. Fiscal audit offices also exist,which perform taxation and proceduralaudits of fiscal accounting;• Tax Chambers - supervise the Tax Officesand are empowered to review the administrativedecisions of Tax Offices and FiscalAudit Offices;42
• the Minister of Finance - is responsible forPolish budgetary policy and supervises theentire taxation system.Taxpayers may appeal to the Tax Chamberagainst the decisions of the local Tax Officeor Fiscal Audit Office. An appeal against adecision of the Tax Chamber may be directedto the Regional Administrative Court.Taxpayers are also entitled to resort to theSupreme Administrative Court to reviewjudgments of the Regional AdministrativeCourts.The concept of tax rulings existing in Poland.The Minister of Finance issues two types oftax rulings:• general - aimed at making the applicationof tax law by the tax authorities uniform(this may be applied by all taxpayers inrespect to the background presented by theMinister of Finance);• individual - issued upon written applicationof a taxpayer (this may be used only by thetaxpayer that obtained the ruling).The above interpretations are help to avoidcertain negative tax consequences of aplanned transaction. Namely, in case the taxconsequences of a transaction occur afterreceiving an individual or the publishing of ageneral interpretation, the taxpayer is notobliged to pay tax liability established by thetax authorities as regards the transactiondescribed in the ruling (in case during a taxaudit they present an approach different fromthe one presented in the ruling). The aboveexemption from the payment of tax liabilitywould apply to the tax consequences of atransaction that occurred up to the end of themonth/quarter/year in which the tax rulingwas changed, depending on the tax settlementperiod. In the event that the tax effectsarising from the transaction described in theapplication occur before receiving an individualor the publishing of a general interpretation,there would be no exemption from thepayment of tax liability. However, generally,the taxpayer who complies with such an interpretationwould not be subject to penal-fiscalliability and would not be charged with penaltyinterest on tax arrears in the event of a disputewith the tax authorities (with respect tothe tax arrears that arose before the tax rulinghad been changed).2.2.3. Corporate income tax (CIT)Companies and organisational units (with theexception of partnerships) are subject to corporateincome tax. Taxpayers that have theirregistered office or their management boardin Poland, are liable for Polish CIT on theirglobal income. If a corporate taxpayer doesnot have either its registered office or managementboard in Poland, tax is only leviedon income derived in Poland. DoubleTaxation Treaties may modify these rules.Having satisfied several conditions, companiesmay establish a “fiscal unity“, i.e. a group ofcompanies treated as a single CIT taxpayer(the concept of a “fiscal unity” is discussed inmore detail in section 2.2.3.5 of this guide).2.2.3.1. Taxable income and tax ratesThe calendar year is generally the tax year.Taxpayers may, however, select a differenttax year covering 12 consecutive calendarmonths.Taxable income is the aggregate of all revenuesearned in a tax year - both financialand operational (with exceptions), net ofdeductible costs. Income decreased by additionalspecific expenses (e.g. deductible donations)constitutes the basis for the calculationof taxation. Generally, tax-deductible costsare expenses borne in the course of generatingtaxable revenue. Some expenditure, however,is not tax-deductible (e.g. entertainmentcosts, some kinds of administrative orcontractual penalties, etc.). Advertising costsHow to do Business. Investors’ Guide - Poland Establishing and doing business in Poland 43
Page 1: How to doBusinessInvestors’ Guide
Page 5 and 6: Table of ContentsHow to do Business
Page 7 and 8: How to do Business
Page 9 and 10: STEP 6Opening an account at a Polis
Page 11 and 12: 1.2. Corporate entitiesForeign entr
Page 13 and 14: the event of the intentional or neg
Page 15 and 16: sions of the Statute, unless he is
Page 17 and 18: 1.2.10. Representative officeForeig
Page 19 and 20: plants and harvestable materials.Im
Page 21 and 22: The documents required from a joint
Page 23 and 24: foreigner is citizen or company fro
Page 25 and 26: • the land has access to a public
Page 27 and 28: 1.9. Employment of workers1.9.1. La
Page 29 and 30: A contract of employment should be
Page 31 and 32: 1.9.1.4. Work timeIn general, worki
Page 33 and 34: from the date of submitting the req
Page 35 and 36: A temporary residence permit can be
Page 37 and 38: contributions between the first and
Page 39 and 40: work / provide their services in Po
Page 41: entity is responsible for the accou
Page 45 and 46: educed under the applicable DoubleT
Page 47 and 48: case of mergers only the tax losses
Page 49 and 50: Polish law defines three kinds of A
Page 51 and 52: Intrastat declarations must be subm
Page 53 and 54: • expenses incurred by an individ
Page 55 and 56: Furthermore, subject to the transfe
Page 57 and 58: 2.4. Polish trade regulationsOne of
Page 59 and 60: The modification of this scheme is
Page 61 and 62: transactions with them have fewer r
Page 63 and 64: • musical and textual, as well as
Page 65 and 66: Patents are not granted for:• dis
Page 67 and 68: (which may be rebutted) that an ent
Page 69 and 70: y Member States which is incompatib
Page 71 and 72: Judgments of the courts of third co
Page 73 and 74: ceedings documentation in Polish, i
Page 75 and 76: • the amendment envisages the los
Page 77 and 78: The allowances held by the entity r
Page 79 and 80: State aid intensity levels by regio
Page 81 and 82: In case of investments falling unde
Page 83 and 84: 6. Exemptions from local taxesParti
Page 85 and 86: In Poland
Page 87 and 88: ut is prone to unpredictable temper
Page 89 and 90: 1.3. Political systemThe Republic o
Page 91 and 92: • Ministry of Culture and Nationa
Page 93 and 94:
2.1.3. RailwaysThe railway network
Page 95 and 96:
Bitstream Access (BSA), Wholesale L
Page 97 and 98:
• Aster, established by a cable t
Page 99 and 100:
3.3. Other depositsPoland also has
Page 101 and 102:
Poland is famous for aviation produ
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7.1. The National Bank of PolandThe
Page 105 and 106:
The Warsaw Stock Exchange’s Super
Page 107 and 108:
9. Education9.1. The education syst
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versity higher vocational school (w
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Roughly 40 foreign investors have l
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10.2. UnemploymentAccording to offi
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GDP growth in 1990-2007 (%)1052.63.
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11.3. Foreign tradeAccording to the
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11.4.1. Labour costsSince 2001, sal
Page 121 and 122:
Defined for annual consumption of 4
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in 2004-2006, while payments could
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82% of this sum goes towards the“
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State to work in another Member Sta
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of the transition period (2004). Th
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support in improving governance and
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of investors. Databases of foreign
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Secretariat:tel. +48 42 663 30 57ht
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Warmiƒsko-Mazurskie VoivodeshipWar
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Investor name Country Country Activ
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Page 143 and 144:
Page 145 and 146:
International Preschoolul. Zawrat 1
Page 147 and 148:
About Wardynski & PartnersWardyƒsk
Page 150:
The Polish Information and Foreign
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