Explore the possibilities and learn about the crucial regulations that will shape your business in Poland
Legal system The principal basis of the Polish legal system is the present Polish constitution, established on April 2nd, 1997. Since the adoption of the new constitution, Poland underwent major changes, rapid economic growth and, most importantly, succeeded in the accession to the European Union in 2004, which brought about many legislative changes...
Financial statements The law imposes the obligation to prepare financial statements in an electronic form. The document has to be signed electronically following the Accounting Act and submitted to a Financial Documents Repository (RDF) as a financial report XML file. The file itself should be signed by all members of the company’s management...
Inventory of fixed assets In Poland, the inventory of fixed assets should be carried out due to the last day of each financial year—by way of counting their quantities—but can be started 3 months before the end of the financial year and last up to the 15th day of the following year. For...
Unified Control File (JPK) At the beginning of 2020, the Unified Control File for Tax—JPK_VDEK—replaced most of the previous VAT statement formats for the major national taxpayers. It also prompts taxpayers towards monthly instead of quarterly audits. The JPK_V7M(2) and JPK_V7K(2) have replaced the older formats since the beginning of 2022. Each of...
Central Register of Ultimate Beneficial Owners Among the new responsibilities for Polish entrepreneurs, passed by the legislators in 2019, is The Central Register of Ultimate Beneficial Owners in Poland (abbrev. as CRBR)—the governmental public list that gathers information on the ultimate beneficial owners (abbr. UBOs) that directly run Polish companies. It came into...
GDPR / Data protection Poland, as a member of the European Union, is a signee of the GDPR Regulation (2016/679). Therefore, all of the provisions resulting from the said Regulation apply in Poland, with the addition of locally amended legislation. Anti-Money Laundering (AML) in Poland From 2021, the AML (Anti-Money Laundering) procedure has...
