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Profit and Loss Account for Foreigners Living in Poland – Practical Comments and Methodology from an Accounting Perspective

Establishing companies in Poland by foreigners

Publication date: January 13, 2025

general information about the profit and loss statement

Establishing a company in Poland by foreigners is possible, but requires meeting certain conditions, which vary depending on the origin of the foreigner. EU and EEA citizens can establish a business on the same terms as Poles. US and Swiss citizens can conduct business on the basis of international agreements. Ukrainian citizens can establish companies on the basis of specific regulations regarding assistance to Ukrainian citizens.

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Withholding tax when cooperating with foreign entities – Polish and EU perspective

Publication date: January 13, 2025

The obligation to pay withholding tax occurs when an entrepreneur uses services provided by foreign business partners. This type of fee is a flat-rate form of income tax, concerning specific transactions regulated in Article 29 of the Personal Income Tax Act[1]. “Income tax [is collected, among others] from income obtained in the territory of the Republic of Poland by persons [who do not have a place of residence in the territory of the Republic of Poland]:

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Practical comments on fortified foods, NANDO system and introducing dietary supplements on the market

Publication date: January 09, 2025

Dictionary:

  • Fortified foods – these are food products that have had additional nutrients added (such as vitamins, minerals, fiber) to improve their nutritional value and prevent deficiencies of these nutrients in the diet, e.g. enriching spring water with minerals changes the qualification of this water to mineral water.
  • NANDO – (New Approach Notified and Designated Organisations) notification is the act by which a Member State informs the Commission and the other Member States that a body that meets the relevant requirements has been designated to carry out conformity assessments in accordance with the directives. Notification of notified bodies and their withdrawal are the responsibility of the notifying Member State.

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Biosimilar Medicines in Poland

Publication date: January 09, 2025

A biosimilar is a medicine that is similar to another biological medicine that is already on the market in different countries of the European Union. A medicine that is close in similarity is a medicine that has only minor differences compared to another biological medicine that is already on the market. The term “Biosimilar” is used in the European Union and refers to the comparability between a biologically similar medicine and its reference medicine. Biosimilar medicines are made from living organisms and are used when a serious disease such as cancer occurs.

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Role of Polish bioethical committees in clinical trials – practical comments

Publication date: January 08, 2025

Undertaking clinical trials plays a fundamental role in the development and marketing authorisation of medicinal products. The aim of clinical trials is to test the safety and effectiveness of the products being studied. A trial sponsor is an individual, company, institution or organisation that is responsible for undertaking, managing and organising the financing of a clinical trial.

Bioethics Commission

The composition and functioning of the bioethics commission are specified in Article 29 of the Act of 5 December 1996 on the professions of physician and dentist (consolidated text: Journal of Laws of 26 March 2018, item 617) and in the Regulation of the Minister of Health of 11 May 1999 on the detailed principles of establishing and financing and the mode of operation of the bioethics commission (Journal of Laws No. 47, item 480).

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