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Business tax law in POLAND

The transformation of Poland's economy from a centrally planned to a modern market economy continues apace. The Association Agreement with the European Union, which came into force in February 1994 and the acceptance by the member states of the Treaty of Nice were important steps towards Poland's goal of full EU membership. Poland is beginning to tap international capital markets. Against this background there has been, and continues to be, rapid legislative development. It is vitally important for the investor to keep abreast of new legislation. What follows is a brief guide to the more important legal issues likely to be relevant to the foreign investor.

Poland officially the Republic of Poland is situated in Central Europe. The total area of Poland is 312,683 sq km making it the 69th largest country in the world with population over 38.2 million people concentrated mainly in large cities, including the historical capital of Poland - Cracow and the present capital Warsaw.

Governmental: CIT (Corporate Income Tax = income tax from legal persons), PIT (Personal Income Tax = income tax from individuals), VAT (Value Added Tax = tax of goods and services ), excise duties, tax on civil law transactions.
Units of local government: property tax, tax on means of transport.

Direct: Personal Income Tax (PIT), Corporate Income Tax(CIT), taxes on inheritance and gifts, tax on civil law transactions, agricultural tax, forestry tax, property tax, vehicle tax, tonnage tax. Indirect: Value Added Tax (VAT), excise tax, game tax.

The easiest way to submit tax returns is to provide it to the Tax Office. Alternative methods:

- an electronic document, - polish post office or public operator submitting the polish consular office, - crew of the ship in command of a military unit or ship's captain, - a person deprived of liberty in the administration of the penal institution.

CIT (Corporate Income Tax) 31st of March for the previous year PIT (Personal Income Tax) 30th of April for the previous year VAT (Value Added Tax) - to the 25th of each month for the previous month VAT-UE to the 25th day of the month following the quarter

CIT is the corporate income tax. This is a direct tax which is paid by the legal person of earned income and in some cases the resulting revenue.

The basic legal act that regulates the corporate income tax, is the Act of 15 February 1992 on income tax from legal persons.
In 2012 organizations pay corporate income tax by 19% tax rate on earned income.

Payers of income tax from legal persons are:


any legal person, partnership capital in organizations, organizational units without legal personality, tax capital groups.

Entities exempt from tax:

- The Treasury, - Polish National Bank, - Special funds established under separate laws, - International companies and other entities created by the government together with other countries under the agreement or contract, unless such agreements or contracts otherwise, - Local government units in terms of income specified in the Act on Local Government Revenue, - Agency for Restructuring and Modernisation of Agriculture, - Agricultural Market Agency, - Investment funds operating on the basis of separate laws, - Pension funds established under the regulations on organization and operation of pension funds, - Department of Social Insurance, - Agricultural Property Agency.

PIT - Personal Income Tax (Income tax on individuals) is a direct tax including income received by individuals.
"PIT" is also the name of the official forms available in Poland by the Ministry of Finance, on which taxpayers submit their annual accounting statements of personal income tax.

Personal Income Tax in Poland is regulated by the Law of 26 July 1991 (consolidated text. Acts. Laws of 2010 No 51, pos. 307, as amended. D.). Polish income tax law since 2000 was amended 133 times.

Act of 26 July 1991 on income tax on individuals, regulates the taxation of income tax on income earned by individuals. Outside the scope of this Act shall remain revenue: from agricultural activities, of forest management, subject to the provisions of the tax on inheritance and gifts, resulting from activities which may not be legally effective contract, with division of joint property of spouses as a result of the cessation or limitation of marital community of property and revenues of compensation after the end of separation of spouses or death of one of them, company taxed on the basis arising from the Act of 24 August 2006 Tonnage Tax (Journal of Laws No. 183, item. in 1353, as amended.) benefits to meet the needs of the family, referred to in art. 27 Family Code, subject to joint property in marriage.

Individuals residing in the Polish territory have unlimited tax liability. A separate issue is the question of establishing the existence of the tax obligation in relation to income derived outside the country. There may be a phenomenon here which is called double taxation.

Methods of calculating tax


Taxable income (z) more than to 85 528 z PIT

18% minus the amount reducing the tax 556 z 02 gr


14 839 z 02 gr + 32% surplus over 85 528 z

85 528 z

extract revenue from economic activity from other sources of income and pay taxes so the extracted partial income flat tax (proportional) at 19% tax rate,
or to accumulate income from business activities with other sources of income and be taxed on global income so recognized by the progressive tax scale .

The amount of contributions for social insurance:


Contribution % of the total monthly salary Employee Employer

Pension insurance - 19.52% Disability insurance - 6%


Health insurance - 9% Sickness insurance - 2.45% Accident insurance - from 0.67 to 3.33%

9.76% 1.50%
9% 2.45% -

9.76% 4.50%
0.67 to 3.33%

POLAND VAT LAW Polish VAT is overseen by VAT Acts and the Fiscal Penal Code and is enforced by The Ministry of Finance. POLISH VAT REGISTRATION Foreign companies from inside or outside the EU may register for VAT in Poland without the requirement to incorporate a Polish company or form a permanent establishment known as non-resident VAT trading.

There is no VAT threshold in Poland for non-resident traders. There is some limited flexibility for reclaiming Polish VAT incurred prior to the registration, but potential fines may be high. In Poland, a fiscal representative is required for the VAT registration of a nonresident trader.

POLISH VAT REGISTRATION

There are strict rules on the situations where a registration is permitted. Common scenarios which require a Poland VAT registration include: - Importing goods into Poland; - Organising live events, conferences etc in Poland; - Selling goods from Poland to other EU countries; - Distance selling to private individuals living within Poland, e.g. internet sales. Registering for VAT in Poland generally takes three weeks, although this can vary.

POLISH VAT COMPLIANCE

There are detailed rules controlling the recording and processing of Polish transactions. These include guidelines on: - Invoice requirements, including electronic invoices; - Foreign currency reporting, rates and translation; - Correcting errors from previous returns; - Credit notes and corrections; and - What accounting records must be maintained. In Poland, there are strict rules on the layout and format of VAT records to be kept by companies or their tax agents.

POLAND VAT RATES

The standard VAT rate in Poland is 23% since January 2011. There are reduced rates of 8% and 5% on certain food, books, newspapers and the supply of a limited number of other services.
A number of services are exempt from Polish VAT, such as financial and postal services.

POLAND VAT RETURNS

Businesses with a Polish VAT number must submit periodic payments. VAT filings and payments are submitted either monthly or quarterly.
POLISH INTRASTAT

In addition to VAT returns in Poland, companies may be required to submit additional statistical information.

POLAND VAT REFUNDS

If a foreign business is providing taxable goods or services in Poland, but cannot to obtain a VAT number or is incurring Polish VAT on local goods or services, then VAT may be recovered through a VAT reclaim. From the 1st of January 2010, VAT refund applications are made through the Tax Authorities of the applicants home country.

Excise duties, or rather excise tax - is regulated by the Act of 23 January 2004 on Excise Tax Harmonized and non-harmonized excise goods are distinguished, with slightly different mode of taxation. Harmonized excise goods are: motor fuels, heating oil, gas, alcoholic beverages, tobacco products. Non-harmonized excise goods include e.g. passenger cars, cosmetics, furs, fire arms, electrical energy.

EXCISE DUTIES IN POLAND

Taxable base and rates differ depending on the subject of taxation. Excise is set as follows: - as a % of taxable base (cars), - as a fixed amount per one item or defined quantity of goods (fuel, oil, gas, alcohol), - as a percentage of maximum retail sale price (tobacco except used for self-made cigarettes), - as a fixed amount per an item or quantity combined with percentage of maximum retail sale price (cigarettes).

DUTY RATES
The duty rates applied to imports into Poland typically range between 0% (for example books) and 17% (for example Wellington Boots). Some products, such as Laptops, Mobile Phones, Digital cameras and Video Game consoles, are duty free. Certain goods may be subject to additional duties depending on the country of manufacture, for example bicycles made in China carry an additional (anti dumping) duty of 48.5%.

The current Polish Foreign Exchange Act came into force on 1st of October 2002. The Act implements the directives of the European Union regarding the freedom of capital transfers.

Under EU rules, no restrictions can be imposed on any capital transaction except for limitations for tax and banking supervision purposes.

CIT (Corporate Income Tax )


Poland: 19%; CIT is levied on a yearly basis, but monthly advance payments must be made (by the 20th of the following month). Spain: 25%, 30%, 20%; taxable period is the calendar year, the tax year ends on December 31.

Poland: progressive rates are 19 %, 30 % or 40 %; PIT is levied on a yearly basis, but monthly advance payments must be made (by the 20th of the following month).
Spain: rates are: 15.66 %, 18.27 5 %, 21.14 % or 27.13 %; The 31 of December of each year.

Poland: the standard rate is 23%. There are reduced rates of 8% and 5% on certain food, books, newspapers and the supply of a limited number of other services.
Spain: The standard rate is 18%. The reduced rate is 8% on food, water; materials for agricultural activities; medicinal products for veterinary use; the equipment and medical supplies; houses, garages and annexes; the flowers and live plants; or super reduced rate which is 4%.

POLAND Harmonized excise goods are: motor fuels, heating oil, gas, alcoholic beverages, tobacco products. Non-harmonized excise goods include e.g. passenger cars, cosmetics, furs, fire arms, electrical energy. Taxable base and rates differ depending on the subject of taxation. The duty rates applied to imports into Poland typically range between 0% (for example books) and 17% .

SPAIN: Excise tax does not relate, in general the inflow of goods in the domestic territory from another Member State of the European Union, but to the specific entries. This source of alcoholic beverages (except wine and fermented beverages) in the Canary Islands which are also taxable status of the tax.

As excise duties include: the excise manufacturing, taxes on alcohol and alcoholic beverages, the tax on hydrocarbons,work of snuff, electricity, certain means of transport, retail sales of certain oil,coal.

In Poland and Spain there are two types of government taxes: - direct - indirect. The purpose of the most important taxes CIT, PIT, VAT, excise duties are similar in Poland and in Spain. The most important differences between them are tax rates and tax due dates.

http://www.tmf-vat.com/vat/poland-vat.html http://www.cfe-eutax.org/ http://www.dutycalculator.com/help_center/Import-duty-taxeswhen-importing-into-Poland/ http://www.pit.pl/zeznanie-podatkowe/ http://www.mf.gov.pl http://www.podatki.biz/ http://www.eures.praca.gov.pl http://mfiles.pl http://www.gazetaprawna.pl/ http://www.podatki.egospodarka.pl http://ec.europa.eu/taxation_customs/resources/documents/taxati on/vat/traders/vat_community/dec2007/vat_ec_pl_en.pdf

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Lodait Kamila Sieraj Ewa Stangierska

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