Go to Bizonaire and register for free.
Discover our map to easily filter and find the wanted service.
Once you’ve found your service, booking it is just 1 click away.
The economy of Poland is the sixth largest in the European Union (EU) and the largest among the former Eastern Bloc members of the EU. Since 1990, Poland has pursued a policy of economic liberalization concerning the company formation process and its economy was the only one in the EU to avoid a recession through the 2007-2008 economic downturn. As of 2019 the Polish economy has been steadily growing for the past 28 years, a record high in the EU and only surpassed by Australia in the world economy. GDP per capita at purchasing power parity has grown on average by 6% p.a. over the last 20 years, the most impressive performance in Central Europe resulting in the country increasing its GDP seven-fold since 1990.
Poland is classified as a high-income economy, beneficial for company formation, by the World Bank and ranks 21st worldwide in terms of GDP (nominal) as well as 24th in the 2017 Ease of Doing Business Index. Poland has highly diverse business registration opportunities, ranking 21st in the 2016 Economic Complexity Index. The largest component of its economy are Polish companies registered in the service sector (62.3.%), followed by industry (34.2%) and agriculture (3.5%). With the economic reform of 1989, the Polish external debt increased from $42.2 billion in 1989 to $365.2 billion in 2014. Poland shipped US$224.6 billion worth of goods around the globe in 2017, while exports increased to US$221.4 billion. The country's top export goods include machinery, electronic equipment, vehicles, furniture, and plastics.
Poland is a republic. The government of the Republic of Poland is based on the separation of and balance between the legislative, executive, and judicial powers. Legislative power is vested in the Sejm and the Senate, executive power is vested in the President of the Republic of Poland and the Council of Ministers, and judicial power is vested in the courts and tribunals.
The Polish public administrative system is based on the division into central and regional (self-government) administration. According to a cardinal principle included in the Constitution, local authorities are elected by citizens. The sources of universally binding law of the Republic of Poland are: the Constitution, statutes, ratified international agreements, and regulations.
The courts and tribunals constitute a separate power and are independent of other branches of power. Judges are appointed for an indefinite period by the President of the Republic and are not removable. Court proceedings have at least two stages.
Poland Individual Income Tax for a Registered Company
An individual pays tax on his registered business income as a wage earner or as a self-employed person.
The tax for an individual who meets the criteria of a "permanent resident" in Poland will be calculated on his income in Poland and abroad.
A foreign resident who is employed in Poland pays tax only on his income earned in Poland.
An individual is a Polish resident if the center of life is in Poland, or if staying in Poland more than 183 days in a fiscal year.
An employer of a registered company is obligated to deduct, immediately on a monthly basis, the tax payable on an employee's salary.
A self-employed person must prepay income tax that will be offset on filing an annual return.
The advance payment for your registered business is determined on the basis of the return made for the previous year.
In the event of a newly opened business in Poland, the advance will be calculated on the basis of estimates made by the owner of the registered business.
Certain payments are deductible from taxable income from a set up company as detailed below:
Poland Corporate Tax
Poland's corporate tax for the year 2018 is 19%, 15% for small registered companies.
A opened business is a Polish resident if registered in Poland, or managing its activities in Poland.
