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Poland Six Places Down in Doing Business Report

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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 27th. 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?

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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 11th of November, the Independence Day in Poland, this year falls on a Sunday, the lawmakers intend to make the 12th 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

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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

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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

IMF: Poland’s GDP Growth at 0.6% in 2023

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International Monetary Fund has recently published its annual World Economic Outlook. The report showcases Poland's GDP's current economic situation in the world and as well as the forecasted developments. The organization predicts that in the upcoming years, Poland’s economy will face a slowdown. International Monetary Fund experts think that the Polish economy in 2018 will expand at the rate of 4.4 percent, which is the highest result among Emerging and Developing European states (the group Read more

Government Bodies Will Not Help Crypto Companies

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Polish Bitcoin Association issued a letter to the Office of Competition and Consumer Protection requesting their assistance of crypto companies with dealing with Polish banks. In several commercial banks in our country, it is extremely difficult to open and maintain an account if you are a crypto company's currency-related business (for example you run a trading platform). Even if a bank decides to open such an account, soon enough it is closed. Needless to say, such a policy makes it very diff Read more
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