Transactions to related parties

Who are related parties to your business? Generally speaking, if any person or business has at least 5% of shares in the another one or if there is any person that manages or takes part in management of two different businesses, then the two entities are related parties to each other. In fact, the definition […]

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Get employees in Poland – what does it cost?

Employees in Poland After setting up a business in Poland you will probabely – sooner or later – look for employees in Poland. The first question while engaging your new stuff is pretty obvious: how much does it cost? The system of taxes and social insurance in Poland in such a way that public contributions […]

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Lower VAT rate starting from 2017?

Four different levels of the VAT rate are used in usual business transactions in Poland: VAT rate 0% – for export and intracommunity delivery of goods VAT rate 5% – for basic food, like bread, milk, cheese, meat preparations etc. – for books and newspapers VAT rate 8% – for sale, construction, renovating and modernization […]

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Tax on banks in Poland and its consequences

Tax on banks was surely not among the most significant election promises made by the leading party Prawo i Sprawiedliwość (“Law and Justice”) during its campaign. Nonetheless they were numerous and some of them were assessed pretty expensive. The central one alone – a monthly benefit of 500 pln for each child in a family […]

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Unpaid purchase invoices

Unpaid purchase invoices may have some unpleasant consequences in Poland. Unpaid purchase invoices in Income Tax The first consequence comes up in the income tax calculation: the unpaid purchase invoices may be included in the debtor’s income tax calculation only for a limited time, after which these invoices – if still unpaid – must be […]

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Employment contract

The possible ways of engaging new workers were described some time ago in this post. Now let’s look at the most common of them: the employment contract. There are still some details to be highlighted and possibilities of better adjustment of the employment. The Labour Code provides following types of labour contract regarding its duration: […]

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Dividends and taxes

“Double taxation” for dividends Well-managed, finely tuned business makes sooner or later a profit that can be accumulated for future development or expansion or but it may be distributed among the shareholders in form of a dividend. As a matter of fact, the profit is nothing else than the surplus of revenues over the costs […]

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Hiring a new worker

Everything that is done in a company is done by people. Thus it is of essential importance to find out the proper people in order to build up a professional, winning team. Putting aside the HR procedures and interview techniques let’s have a look at the legal possibilities of getting somebody hired. There are in […]

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Internal or outsourced accountancy?

Which accountancy is better – internal or external (outsourced)? Without going into the question about the role of accountancy in sustainable activity of every business organisation – which is fundamental but maybe I get back to it in another post – let’s try to compare the both solutions, i.e. internal and outsourced accountancy, in close […]

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What is my tax identification number?

Whereas a “usual” citizen who doesn’t run his own business may use his PESEL number (which is his ID number in the electronic population register) while contacting the tax office each entrepreneur must identify himself with a “NIP”, i.e. individual tax identification number. It consists of 10 digits, traditionally recorded as “XXX-XXX-XX-XX”, although the newest […]

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