Poland-dexin consulting

Poland

Poland has a developed market, is a large country in central Europe and has the largest stock exchange in central and eastern Europe. In terms of nominal GDP, it is the sixth largest economy in the European Union, and it is the fifth largest economy in terms of GDP. It is one of the most dynamic economies in the world, and it has also achieved a high ranking on the Human Development Index. Poland is a developed country and maintains a high-income economy, meanwhile, it also maintains an extremely high standard of living, quality of life, safety, education and economic freedom.

Industry

Free elections in 1989 and 1990 won the united control of the Parliament and the President, which ended the era of communism. A "shock therapy" program in the early 1990s allowed the country to transform its economy into one of the strongest countries in central Europe. Poland has transformed into a democratic, market-oriented country. In 2018, the most important economic sectors in Poland were industry (26.1%), wholesale and retail trade, transportation, accommodation and food services (25.4%), and public administration, national defense, education, human health and social work activities (14.7%). Poland's main export partners are Germany, United Kingdom and Czech Republic, and its main import partners are Germany, Russia and China.
Law

Foreign investment is mainly regulated by the 1991 Foreign Investment Law. The law determines the types of enterprises allowed to invest, the profit repatriation conditions and income of foreign experts, tax preference for foreign investors, and provides legal protection for foreign investments in Poland. Poland is a constantly developing country. Investors have a wide range of business opportunities here. Those who choose to operate a company in Poland have various types of legal entities from which they can choose the legal entity that best suits their needs. The Commercial Company Law regulates the types of structures that can be established in Poland. The types of companies in Poland are similar to those in other European countries. Commercial companies can be companies or partnership enterprises.
Tax revenue

Taxation regulations for corporate enterprise income tax are contained in the Corporate Income Tax Law, and (except for clearly defined special circumstances) corporate income tax is set at 19% of the taxable base. All CIT taxpayers are obliged to keep accounting books in accordance with the relevant laws, mainly the conditions stipulated in Accounting Law. Poland's new tax legislation comes into effect. It reduces the corporate income tax rate for taxpayers with income equal to or less than €1.2 million to 9%, which is the lowest in EU.
Advantages

Poland has a solid economic foundation and is the only European country to record GDP growth during global economic crisis. After avoiding a recession, Poland continues to make progress. Some of the factors that contributed to the recent economic performance include private consumption, labor market performance, significant export value, and the competitiveness of Polish companies. For investors starting a business in Poland, an important advantage is that they can receive various tax subsidies and incentives. The maximum level of investment assistance depends on the scale and location of the company. Certain types of expenses incurred by companies eligible for assistance means purchasing land, buildings or machinery, technology transfer expenses, and lease expenses (in some cases). In addition, the administrative procedures related to opening a company in Poland, such as company formation procedures or trademark registration, are not very complicated. Low unit labor costs, easy access to the EU market, huge domestic market, and relatively high level of technology in labor market are the advantages of investors who start up business. In addition, there are stability and incentive measures.