Polish Tax Rates
Companies based in Poland are taxed at 19% of domestic and foreign income. Capital gains are taxed at the same rate. VAT in Poland is 23%, with reduced rates for certain products and services.
Personal income tax is progressive and charged in accordance with the following table:
|Personal income tax (PLN)||Tax rate|
|0 to 556||0 %|
|557 to 85,528||18 %|
|85,529 and above||32 %|
Property expenditure and donations can be deducted for tax purposes.
Accounting Requirements In Poland
Enterprises based in Poland must keep their accounts in accordance with the Polish Accounting Standards Committee, running from 1 January to 31 December. Accounts must be prepared in Polish, expressed in Zloty and comprise a balance sheet, a profit and loss account and appendices.
Depending on the status of the company, the exact accounting requirements may vary: for example, limited liability companies must also submit a management report. Companies listed on the stock exchange must also supply the Registration Court with quarterly financial statements. All accounts must be audited.