Taxes - Accounting

Poland

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Tax Rates | Accounting Rules

Tax Rates

Consumption taxes

Nature of the tax: Podatek od towarów i usÅ‚ug (PTU/VAT)
Tax rate: 23%
Reduced tax rate: Poland apply a reduced VAT rate of 8% on certain categories of goods and services, including water supplies, pharmaceutical products, medical equipment for disabled persons, children’s car seats, books, newspapers, hotel accommodation… The country applies a reduced VAT rate of 5% on foodstuffs, agricultural inputs…
Other consumption taxes: For additional information on consumption tax.

Corporate taxes

Tax rate

normal rate

19%

Tax rate for foreign companies: Polish companies are taxed on their national and worldwide income, while foreign companies (non resident) are taxed only on their income earned in Poland. For additional information, consult krakow-info.
Capital gains taxation: Long term capital gains are incorporated into the company's profits and are therefore subject to corporate tax.
Main allowable deductions and tax credit: For details on company deduction access the Corporate Income Tax 2012 on Invest in Poland's Website.
Other corporate taxes: For details on the other taxes levied on companies, consult the Polish Tax System.

Individual taxes

Tax rate

Income tax	Progressive rate from 0% to 32%.
From PLN 0 to 556	0%
From PLN 557 to 85,528	18%
PLN 85,528 and over	32%

Allowable deductions and tax credit: In Poland tax payers benefit from various deductions:
- Various donations (to science, charities, etc.) are deductible up to 10%, or even 15% in some cases.
- Deductions on purchasing and building real estate.
Special expatriate tax regime: Expatriates and natives pay the same taxes in Poland. For information on expatriate taxing, access Taxes in Poland on Krakow's Website.

Double taxation treaties

Countries with whom a double taxation treaty have been signed: Access the list of tax treaties signed by Poland
Withholding taxes: Dividends: 19%, Interest: 20%, Royalties: 20% (may be reduced in the case of a tax treaty).
Bilateral agreement: Poland and Tunisia are bound by a double taxation treaty: yes

Signed	Ratified	Enforced
30/03/1993	Law 93-92 of 02/08/93	15/11/1993

Pour aller plus loin dans vos recherches nous vous proposons de connaître les taxes locales connaître les taxes locales qui s'appliquent à votre produit.

Sources of fiscal information

Tax Authorities: Ministry of Finance
Other domestic resources: Taxonline on Poland

Accounting Rules

Tax year: The tax year begins on 1 January and finishes on 31 December of the same year.
Accounting standards: The Polish Accounting Standards Committee was set up in 2003 to implement the accounting law as standards.
Accounting regulation bodies: Accountants Association in Poland
National Chamber of Statutory Auditors
Accounting reports: Companies are bound to draw up a balance sheet, a profit and loss account and notes. The accounts must be published in Polish, the unit of currency being the Zloty. Companies subject to audit must also prepare a statement of cash flows and a statement of changes in equity. Limited liability companies and companies listed on the Stock Exchange must also prepare a management report. reports must be filled annually. Companies listed on the Warsaw Stock Exchange must prepare financial reports observing the constraints of form defined in the decree of the Council of Ministers of 22 December 1998.
Publication requirements: Listed companies must prepare quarterly accounts (in a simplified form) and six-monthly accounts as well as consolidated accounts.
The accounts must be sent to the Registration Court or to the Committee for Stock Exchange Operations (Komisja Gielda Papierów WartoÅ›ciowych) for listed companies. Audited companies must also send their accounts to the commercial gazette (Monitor Polski B).
In addition, the European Directive of 19 July 2002 obliges all European companies listed on the Stock Exchange to draw up their annual consolidated accounts according to IAS standards from the 2005 tax year on.
Professional accountancy bodies: KIBR
AAP
Certification and auditing: Companies have to seek a statutory auditor to conduct an annual audit of the financial health of their organization. You can contact the National Chamber of Auditors (KIBR).
Accounting news: Central Europe EIN News