Registering a company in Poland is just the first step in operating a successful business. Once your company is registered, there is a number of post-registration compliance requirements for companies in Poland in order to stay in good standing with the government and avoid penalties.
Table of Contents
- Right after the registration
- Tax on civil transactions
- Annual Financial Statements
- Annual General Meeting
- Tax compliance
- Keeping accurate records
- Registering changes
- Post-registration compliance requirements for companies in Poland. Conclusion
Right after the registration
After obtaining an entry into the National Court Register, the data of the new company goes to other registering offices in order to obtain VAT identification number [Polish: NIP] and National Business Registry Number [Polish: REGON]. Within 7 days following the date of entry into the National Court Register, a new company has to indicate an actual beneficiary in the Central Register of Beneficiaries. Moreover, the company has to provide the relevant Tax Office with supplementary data, such as a list of bank accounts. The above-mentioned information should goes on the dedicated NIP-8 form within 21 days following the date of entry into the National Court Register. One should also remember to register the company as a VAT Taxpayer.
Tax on civil transactions
In connection with the registration, the company has to pay tax on civil law transactions in the amount of 0.5% of the tax base. It depdends on the value of contributions made to a partnership or by the value of share capital of a limited company. You should submit the declaration on the dedicated PPC-3 form to the tax revenue office competent for the company’s seat. You should do this within 14 days following the date of concluding a company’s agreement.
Annual Financial Statements
Companies in Poland have to file annual financial statements with the National Court Register (NCR) and the appropriate tax authorities. These statements must be prepared by an independent auditor and include information on the company’s financial performance, assets, and liabilities.
Annual General Meeting
All companies in Poland must hold an annual general meeting (AGM) to discuss the company’s performance and make important decisions, such as appointing new board members or approving financial statements.
Tax compliance
Companies in Poland need to register for taxes (VAT), file regular tax returns, and pay taxes on time. Failure to do so can result in penalties and fines.
Keeping accurate records
Companies in Poland must keep accurate records of their financial transactions, including invoices, receipts, and bank statements. These records must be kept for at least 5 years and must be available for inspection by government authorities.
Registering changes
Any changes to the company’s legal structure or management must be reported to the NCR and other relevant authorities. This includes changes in company name, registered address, and board members.
Post-registration compliance requirements for companies in Poland. Conclusion
Forming a company in Poland is just the beginning of a long-term commitment to compliance and good business practices. By understanding and meeting the ongoing compliance requirements, companies can ensure their continued success and avoid penalties.
If this article was interesting for you and you want to know more on the topic it concerned we encourage you to contact us. Specialists from our law firm in Poland, will be happy to help. If you are interested in company registration in Poland visit our dedicated landing page.
