Taxes and Accounting in Poland
- Tax Year
- The tax year begins on 1 January and finishes on 31 December of the same year.
- Accounting Standards
- The Polish Accounting Standards Committee was set up in 2003 to implement the accounting law as standards.
- Accounting Regulation Bodies
Accountants Association in Poland
National Chamber of Statutory Auditors
- Accounting Reports
- Companies are bound to draw up a balance sheet, a profit and loss account and notes. The accounts must be published in Polish, the unit of currency being the Zloty. Companies subject to audit must also prepare a statement of cash flows and a statement of changes in equity. Limited liability companies and companies listed on the Stock Exchange must also prepare a management report. reports must be filled annually. Companies listed on the Warsaw Stock Exchange must prepare financial reports observing the constraints of form defined in the decree of the Council of Ministers of 22 December 1998.
- Publication Requirements
- Listed companies must prepare quarterly accounts (in a simplified form) and six-monthly accounts as well as consolidated accounts.
The accounts must be sent to the Registration Court or to the Committee for Stock Exchange Operations ( Komisja Gielda Papierów WartoÅ›ciowych) for listed companies. Audited companies must also send their accounts to the commercial gazette (Monitor Polski B).
In addition, the European Directive of 19 July 2002 obliges all European companies listed on the Stock Exchange to draw up their annual consolidated accounts according to IAS standards from the 2005 tax year on.
- Professional Accountancy Bodies
KIBR , The National Chamber of Statutory Auditors
AAP , The association of accountants in Poland
- Certification and Auditing
- Companies have to seek a statutory auditor to conduct an annual audit of the financial health of their organization. You can contact the National Chamber of Auditors (KIBR).
- Accounting News
Central Europe EIN News
- Nature of the Tax
- Podatek od towarów i usÅ?ug (PTU/VAT)
- Tax Rate
- Reduced Tax Rate
- Poland apply a reduced VAT rate of 8% on certain categories of goods and services, including water supplies, pharmaceutical products, medical equipment for disabled persons, children’s car seats, books, newspapers, hotel accommodation… The country applies a reduced VAT rate of 5% on foodstuffs, agricultural inputs…
- Other Consumption Taxes
- For additional information on consumption tax.
- Company Tax
- Tax Rate For Foreign Companies
- Polish companies are taxed on their national and worldwide income, while foreign companies (non resident) are taxed only on their income earned in Poland. For additional information, consult krakow-info.
- Capital Gains Taxation
- Long term capital gains are incorporated into the company's profits and are therefore subject to corporate tax.
- Main Allowable Deductions and Tax Credit
- For details on company deduction access the Deloitte Tax Guide 2009 on Poland.
- Other Corporate Taxes
- For details on the other taxes levied on companies, consult the Polish Tax System.
|Income tax||Progressive rate from 0% to 32%.|
|From PLN 0 to 556||0%|
|From PLN 557 to 85,528||18%|
|PLN 85,528 and over||32%|
- Allowable Deductions and Tax Credit
- In Poland tax payers benefit from various deductions:
- Various donations (to science, charities, etc.) are deductible up to 10%, or even 15% in some cases.
- Deductions on purchasing and building real estate.
- Special Expatriate Tax Regime
- For information on expatriate taxing, access the 2009 PKF tax guide on Poland
Double Taxation Treaties
- Countries With Whom a Double Taxation Treaty Have Been Signed
Access the list of tax treaties signed by Poland
- Withholding Taxes
- Dividends: 19%, Interest: 20%, Royalties: 20% (may be reduced in the case of a tax treaty).
- National Organizations
- The organization responsible for the protection of intellectual property in Poland is the Urzad Patentowy RP, it is a member of the European Patent Office (EPO).
- Regional Organizations
Industrial Property Office
- International Membership
Member of the
WIPO (World Intellectual Property Organization)
Signatory to the Paris Convention For the Protection of Intellectual Property
National Regulation and International Agreements
|Type of property and law||Validity||International Agreements Signed|
Law on inventive activity
19 October 1972, modified by the law of 16 April 1993
|| Patent Cooperation Treaty (PCT)
Strasbourg agreement Concerning the International Patent Classification
Law on Trademarks
31 January 1985
|10 years, renewable for a consecutive period of 10 years.|| Trademark law treaty
Protocol relating to the Madrid Agreement
|| Berne convention
Rome ConventionFor the Protection of Performers, Producers of Phonograms and Broadcasting Organizations
WIPO Copyright Treaty
WIPO Performances and Phonograms Treaty
- Independence of Justice
- Judicial power in Poland is independent, but the Courts are well-known for their long administrative delays in dealing with cases.
- Equal Treatment of Nationals and Foreigners
- Poland is a constitutional State. Foreign nationals can expect to obtain impartial proceedings in legal matters.
- The Language of Justice
- Polish is the language of justice used.
- Recourse to an Interpreter
- It is possible to obtain an interpreter.
- Sources of the Law and Legal Similarities
- The main source of the country's law is the Constitution of 1997. The legal system is a mix of Continental civil law (Napoleonic) and remenants of communist legal theory; changes are being brought in rapidly with the process of democratization. Poland accepts the obligatory jurisdiction of the ICJ (International Court of Justice) but with reservations. As Poland is a member of the European Union, its national law must abide by the conditions of the country's legislation.
- National Standards Organizations
Polish Standardization Committee
- Integration in the International Standards Network
- Poland has developed a widespread system of standards and certifications of its own, not always harmonized with international standards. It is a member of different international standards organizations: ISO, IEC, CEN, CENELEC, ETSI. It also cooperates with other international organizations for the harmonization of standards and certifications, such as UN/ECE (United Nations Economic Commission for Europe), ASTM (American Society for Testing and Materials), WTO/TBT (WTO Agreement on Technical Barriers to Trade).
- Classification of Standards
- Concerning marketing, in Poland, products subject to the field of application of New Approach European directives: since 1 May 2004 they must carry the "CE" mark. For further information about CE marking, please consult the information on EC marking.
- Online Consultation of Standards
- Catalog of Polish Standards
- Certification Organizations
Polish Center for Analysis and Certification
Polish Center for Accreditation
- General Information
- Opening Hours and Days
- Working hours are from 8am to 4pm from Monday to Friday.
The days off are Saturday and Sunday.
|New Year's Day||1 January|
|Easter||April (no fixed date)|
|Labor Day||1 May|
|Constitution Day 1791||3 May|
|Corpus Christi||May-June (no fixed date)|
|All Saints||1 November|
|National Independence Day||11 November|
|Christmas||25 and 26 December|
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