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.
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.
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.
Legal basis: Legal Act of 26/01/2018 about the amendment to the Act on the National Court Register and some other acts (Journal of Laws 2018, item 398).
From 15th March 2018 the submissions of financial statement documents are possible only in electronic form, and the mode of submitting these documents differs depending on whether the persons authorized to represent the entity are natural persons with the affixed PESEL numbers (Polish Personal Identity Numbers).
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.
