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Corruption Scandal Shakes Polish Financial Supervisory Authority

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“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

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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

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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

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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

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
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