If you are thinking about starting a new business venture in Poland, it is not a bad idea to consult a professional. A good company will not only guide you through the process but will also provide a solid legal and financial foundation upon which to build. The best companies will be able to match your needs, no matter the size. Luckily for you, there are many good ones to choose from. One of the better places to start is with the law firm of Bakowski, which offers the usual range of services, from advising on commercial and residential developments to assisting with mergers and acquisitions.
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Furthermore, a non-resident must have a residency certificate in order to be subject to tax in Poland. Non-residents must pay advance tax on income from transfers of property. If the taxpayer receives an inheritance or donation from a Polish resident, they may be able to claim an exemption. Corporate taxes in Poland are calculated based on the average euro exchange rate announced by the National Bank of Poland. There are seven taxes to pay each year. Tax rates vary depending on the type of activity. For example, capital gains made from fixed business assets are subject to a standard corporate income tax rate. Similarly, dividends received by an affiliate or subsidiary are not exempt. Additionally, interest payments to a foreign company are subject to a 20% withholding tax.
Poland has a relatively complex system of labor laws. Employment contracts cannot be less favorable to workers than the established labor legislation. To be eligible for an APA, the business must have a minimum number of employees. Further, the business must be registered in the commercial register. This can take a matter of days or up to three months.
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In addition, there are strict requirements for registering domestic and cross-border transactions. Transactions must be reported to the tax authorities in accordance with the Tax Procedure Rules. A taxpayer must report each domestic transaction in a simplified form. When the transaction is under certain conditions, the transaction will not be considered a documentary obligation. There are also regulations for Advanced Pricing Arrangements. In APAs, related parties are defined as parties under common control. APAs can be unilateral, multilateral, or bilateral. They can be renewed for up to five years. Get your Cryptocurrency License from PZC.
Other indirect taxes are VAT and excise duty. There are also specific environmental obligations that must be met. For instance, companies with an investment in an SEZ are required to obtain a special permit. Depending on the regulations, the minimum amount of investment may be determined. Companies must register for VAT in Poland. Alternatively, a business that has no physical presence in Poland is exempt from paying VAT. Regardless of the legal form, a company must keep accounting books to determine the tax due.
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Doing business in Poland can be difficult, even for domestic entrepreneurs. However, with the right strategies and some ingenuity, it’s not impossible to achieve success. In fact, the advantages of Poland are abundant. As of 2019, the Polish government has introduced new WHT collection rules. Payments to a taxpayer can be exempt from WHT. Furthermore, a non-resident must have a residency certificate in order to be subject to tax in Poland. Non-residents must pay advance tax on income from transfers of property. If the taxpayer receives an inheritance or donation from a Polish resident, they may be able to claim an exemption.
In addition, there are strict requirements for registering domestic and cross-border transactions. Transactions must be reported to the tax authorities in accordance with the Tax Procedure Rules. A taxpayer must report each domestic transaction in a simplified form. When the transaction is under certain conditions, the transaction will not be considered a documentary obligation. In APAs, related parties are defined as parties under common control. APAs can be unilateral, multilateral, or bilateral. They can be renewed for up to five years.
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Poland has a relatively complex system of labor laws. Employment contracts cannot be less favorable to workers than the established labor legislation. To be eligible for an APA, the business must have a minimum number of employees. Further, the business must be registered in the commercial register. This can take a matter of days or up to three months.
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