New Company Succession Law Comes into Effect

Posted on November 26, 2018October 19, 2023 by admin

The Ministry of Entrepreneurship and Technology has come up with new provisions of succession law that will deeply affect numerous family businesses in Poland. After receiving requests from Polish entrepreneurs who pointed out to the Ministry the lack of applicable regulations, government experts prepared an act that regulates the matters of company succession in the event of an entrepreneur’s death. The succession lawmakers want to prolong the existence of businesses and give successors a cha Read more

Corruption Scandal Shakes Polish Financial Supervisory Authority

Posted on November 23, 2018October 19, 2023 by admin

“The reputation of financial supervision is ruined”, said top officers of National Bank of Poland Marek Belka commenting on the corruption scandal that shook the country after “Gazeta Wyborcza” broadsheet revealed that Marek Chrzanowski, the president of KNF [Financial Supervisory Authority] presented a corruption scandal offer to Leszek Czarnecki, a Polish billionaire and the owner Read more

The Government Wants to Tighten the Retail Ban

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

Only a few months has passed since the government introduced a retail ban, but the lawmakers already see room for improvements. It has been announced they are working on ways to even further restrict the regulation that prevents shops and stores in Poland from opening on Sundays and bank holidays and certain other days. As experts indicate, the provisions that are already in place have many loopholes and it is not uncommon for retail chains to try to outsmart the government. The act on Read more

Poland Lowers Corporate Income Tax for Small Enterprises

Posted on November 16, 2018October 19, 2023 by admin

This week the President of Poland, Andrzej Duda, signed a bill that lowers the corporate income tax for small enterprises registered in Poland. This is the final step of the legislation process and soon the new provisions will come into effect. The CIT rate in Poland will go down from 15 to 9 percent. The lowered rate will apply to businesses that according to current regulations are classified as smal Read more

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

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