The Business Constitution is a package of 5 acts that comes into force on 30 April 2018 and at the same time repeals the Act from 2004 on the freedom of business activity. Its aim is to reform and simplify the regulations on conducting business. The most important of the acts is the Law of entrepreneurs, which will determine the most important rights of the entrepreneur and the rules of conducting business. Although the amendment covers a great part of economic law, most of the existing regulations remain in force, only their transfer from derogated to newly introduced legal acts has taken place.
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The Polish parliament amended the Act on Personal Income Tax and Corporate Income Tax in Poland. New changes in law aim to encourage investors and entrepreneurs to develop research and development activities.
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The Act of March 1, 2018 on counteracting money laundering and financing of terrorism (entering into force on 13 July 2018) is to increase the efficiency of action in this area yet triggers important changes for entrepreneurs operating in Poland.
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This year’s amendments to the Polish Act on the National Court Register imposed new obligations on corporations registered in Poland. One of the changes was introduced by art. 19e.
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Poland will have its own tax on innovation. The Polish Ministry of Finance finishes work on the so-called IP Box.
It is a tax on innovation aimed to improve the innovativeness of the Polish economy.
It is directed to attract foreign innovative companies and to keep domestic innovative companies so that they do not “run away” to other countries where tax rates are more advantageous. IP Box is going to be 5% for 20 years (the period in which there lasts patent protection and other protective rights guaranteeing exclusivity for the author). However, it is uncertain whether it will be possible to maintain such a high level of tax relief, as the Ministry of Finance will have to comply with the restrictions imposed by the EC and OECD to avoid allegations of harmful tax solutions.
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