Ministry Prepares Favourable Law for Business
The Ministry of Entrepreneurship and Technology announced a law for businesses that is working on a set of legal amendments that will benefit business owners in Poland. Soon, Polish companies will be able to take the advantage of 70 new regulations that are going to make doing business in Poland easier.
This is the latest step in a series of regulatory modifications that the government introduces in order to benefit Polish entrepreneurs and enhance the law for business environment in Poland, which include 100 Changes for Companies, Small and Medium Enterprises Package and Constitution for Business. The main goal of Favourable Law is limiting bureaucracy, as it is time and money consuming and prohibits innovation. All in all, Package provides amendments to 74 legal acts.
The Importance of Law for Business:
“Taking the previous packages into consideration, we are talking about hundreds of facilitations and savings for Polish entrepreneurs in the three years of our government” – said Minister Jadwiga Emilewicz. She also noted the goal is to make Polish law less restrictive and inconsequential. The new amendments were designed with micro, small and medium-sized enterprises in mind.
The provisions cover a broad area. Among other things, Polish government plans to extend the time limit for VAT settlement in import trade. The deadline for settling VAT will be the 25th day of the month following a given month, i.e. the general rule will replace the 10 days limit which is in force today. This solution is to improve the competitiveness of Polish ports.
A truly ground-breaking development is allowing micro, small and medium entrepreneurs to make errors. For 12 months after starting the company, the law for business will make owners not receive penalty for unintentionally breaching the law (on condition they remedy their mistake within a suitable period of time).
The Favourable Law Package will be introduced by means of an act on amendments to other acts for the purpose of limiting regulatory burden. It is currently at the consultations stage which may take up to a month.
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