Polish Ministry Wants New VAT Rates

Posted on November 12, 2018October 19, 2023 by admin

The Ministry of Finance wants to simplify VAT rates. They have recently published a draft bill introducing changes to the act on value-added tax of 11 March 2004. There are numerous goods will soon fall under a different tax rate. The goal is to make the VAT matrix clearer and fairer. The VAT rates in Poland have been set at 23%, 8% and 5% ever since 2011. Nothing will change in this respect. However, the lawmakers want to make the assignment of goods to rate groups more transparent and unified Read more

N26 Bank Launches Activity in Poland

Posted on November 09, 2018October 19, 2023 by admin

N26 Bank is a German mobile bank that has recently started operating in Poland. The company decided to expand its activity not only to Poland but also to Sweden, Denmark and Norway. November is the first month when clients may open accounts and start using their services. The N26 bank does not have brick-and-mortar branches at all. All operations are performed by the clients with their smartphones, including account opening. During the registration process, the prospective client’s identity i Read more

Poland Six Places Down in Doing Business Report

Posted on November 05, 2018October 19, 2023 by admin

Doing Business report is an annual report prepared by the World Bank whose authors try to assess how easy (or difficult) it is for entrepreneurs to carry out business activity in a given country. The report covers such areas as taxation, company formation, access to investment, trading regulation and insolvency procedures. This year, Poland was ranked 27^th. It is a whole six positions down from the previous year’s list. The country’s assessment fell quite significantly in just tw Read more

No work on the 12th of November?

Posted on November 02, 2018 by admin

The ruling Law and Justice party (PiS) came up with an unexpected idea. They want to allow Polish people to commemorate the centennial of Poland’s independence a day longer. While the 11^th of November, the Independence Day in Poland, this year falls on a Sunday, the lawmakers intend to make the 12^th day of the month be a free as well this year. The legislative work is under way. The speed at which the new law is being introduced is staggering. The bill making the Read more

National Fiscal Administration Tougher on Entrepreneurs

Posted on October 19, 2018October 19, 2023 by admin

The Polish Ministry of Finance and National Fiscal Administration are not particularly known for going easy on Polish business owners. More compliance obligations, tougher penalties and stricter stance on tax optimization – we have seen all these in the recent months and years. This government is eager to increase fiscal revenue and crunch down tax evasion and other fiscal crimes. Their ideas on finding ways to tighten fiscal law seem to never end. “Gazeta Prawna” Read more

Standard & Poor’s upgrades Poland’s rating

Posted on October 15, 2018October 19, 2023 by admin

Rating agency Standard & Poor’s upgraded their credit ranking of Poland from BBB+ to A- (long-term foreign currency rating) and A/A-1 (long- and short-term local currency rating) with a stable outlook. The agency noted the country’s strong GDP growth and budgetary outcomes. The upgrade came earlier than expected and took many economy experts by (a pleasant) surprise. As the agency’s report’s authors remarked, “The upgrade reflects solid achievements in the form of economic growth a Read more

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