Tax and accounting regulations

Summary of Requirements for a Limited Liability Company (Spolka z.o.o):

General Information
Type of Company Limited Liability Company
Timescale to incorporate Approx
Double Tax Treaty Access: Yes. Double
Tax agreements exist with over 70 countries.
Disclosure of Beneficial Owner: Yes – information is available in the Register Court
Directors
Minimum No. Required 1,Corporate Directors are not permitted
Local Director Required No
Publicly accessible information Yes, directors details are available on a public register
Location of Meetings Local
Shareholders
Minimum No. Required 1, Corporate Shareholders are permitted however must be at least 1 natural person as shareholder.
Publicly accessible information Yes
Location of Meetings Anywhere
Company Secretary
Required No
Local Secretary Required N/A
Registered Office Required Yes
Share Capital
Standard Currency Polish Zloty (PLN) – 1PLN = 0.25 Euro
Standard Authorised Share Capital PLN 50,000, price per share PLN 500
Minimum Paid Up Capital PLN 5000 (Approx. 1,250.00 Euro) – required in order to establish a company
Accounting & Compliance
Requirements to prepare Accounts Yes
Requirement to File Accounts No. Can be kept at the Registered Office
Requirement for Audit Audit is required if at least two of the following are met:

 

  • Turnover exceeds €5 million
  • Total assets exceed €2.5 million

     

  • Number of employees exceeds 50
Local Auditor Required Yes
Requirement to file Annual Return Yes
Additional Information
VAT 23%
Bank Account Opening A visit is required.

Taxation:

Corporate Income Tax Rate: 19%
Capital Gains Tax Rate: Capital gains are taxed as ordinary income at a standard corporate tax rate of 19%
Withholding Tax: Dividends:

 

Dividends paid to a non-resident company are subjected to a 19% withholding tax unless the rate is reduced under a tax treaty or the dividends qualify for exemption under the EU parent-subsidiary directive.

Interest:

Interest paid to a nonresident is subject to a 20% withholding tax unless the rate is reduced under a tax treaty or the EU interest and royalties directive.

Royalties:

The withholding tax on Royalties paid to non-residents is subject to a 20% withholding tax.

Losses:
  • Losses may be carried forward for 5 years but the deduction in a given year may not exceed 50% of the loss incurred.
  • The carryback of losses is not permitted

Take the next step, we are here to help.

Register a Poland company.
Open a Poland bank account.