Polish company is obligated to prepare, approve, and submit its financial statement for the previous fiscal year to the National Court Register (KRS). The deadline for fulfilling this obligation is July 15. The article presents key information regarding annual fiscal obligation of company in Poland. Timeframes Most Polish companies decide to use calendar year as their fiscal year.…
When do you have to pay on the account indicated in Polish VAT White list? First of all, it has to be outlined that obligation of payment to the contractor’s bank account indicated in Polish VAT White List applies only when the seller (issuer of the invoice) is registered as Polish VAT Payer.In other words, if the foreign…
As of 1st January 2020 Polish taxpayers will be obligated to pay VAT, PIT, CIT only on their individual tax account in Poland. How does it look now? Now taxes are paid to the bank accounts of Polish tax office competent for the taxpayer. Moreover different type of tax (VAT, PIT and CIT) are paid into the different…
As of the beginning of November 2019 the provisions regarding obligatory split payment in Poland come into force. It is worth underline that this obligation may also apply to a large part of small companies in Poland, including entities conducting sole proprietorship. What is split payment? Split payment generally has to be defined as:payment of the amount of…
From September 2019, the so-called white list of VAT in Poland has applied. It contains information on VAT registration, de-registration and status of the Polish VAT payer, as well as bank account numbers of entrepreneurs in Poland. Money transfer to an account other than the one indicated on the Polish VAT white list may be subject to critical consequences…
Currently, Financial Statement of Polish Limited Liability Company and all other related financial documents have to be prepared and submitted to the National Court Register only in electronic form. It is no longer possible in any circumstances to submit financial documents of company in Poland in paper form to register. This makes the whole process multistage and demanding…
The basic rate of corporation tax for Limited Liability Company in Poland is the flat rate of 19%. However, from the beginning of 2019 the preferential rate of CIT has been implemented in the rate of 9%.When 9% Corporate Income Tax for Polish Limited Liability Company will be applicable?First of all, the reduced tax rate may be applied only…