Publication date: 18.08.2024
Rules of accounting in Poland for Ukrainian business
Accounting in Poland can be a serious challenge for Ukrainian entrepreneurs who decide to expand their business to this country. Understanding the local rules and standards is key to the successful operation of the company and avoiding problems with the tax authorities. In this article, we will review the main aspects of accounting in Poland and provide practical advice for Ukrainian businesses.
Basic principles of accounting in Poland
Before you start accounting in Poland, it is important to familiarize yourself with the basic principles and standards that apply in this country. Our legal due diligence service will help you better understand the specifics of the Polish accounting system and its differences from the Ukrainian one.
Key aspects of the Polish accounting system:
- Compliance with international financial reporting standards (IFRS)
- Use of the national chart of accounts
- Mandatory double entry accounting
- Adherence to the principle of accrual and matching of income and expenses
- Regular preparation of financial statements
The legal due diligence service will allow you to assess whether your current accounting system complies with Polish requirements and what changes need to be made.
Documentation and reporting requirements
Proper preparation and storage of accounting documents is critical for doing business in Poland. The service of documents review by a lawyer will help you ensure that all documents comply with Polish standards.
Basic requirements for accounting documentation:
- Maintaining accounting registers in Polish
- Keeping primary documents for a specified period of time
- Regular preparation and submission of financial statements
- Ensuring an audit (for certain categories of companies)
- Electronic storage and submission of documents
The legal analysis of the documents service will ensure that your documentation fully complies with the requirements of Polish law and will be accepted by the regulatory authorities.
Taxation peculiarities for Ukrainian business in Poland
Understanding the taxation system is key to proper accounting and avoiding problems with the tax authorities. The lawyer's consultation service will help you to understand the nuances of the Polish tax system.
The main taxes to consider:
- Corporate income tax (CIT)
- Value added tax (VAT)
- Personal income tax (PIT) for employees
- Social contributions
- Local taxes and fees
The service of a legal opinion of a lawyer will help you develop an optimal taxation strategy for your business in Poland.
Question
Can a Ukrainian company keep accounting in Poland independently?
Answer
A Ukrainian company can keep accounting records in Poland on its own, but it requires in-depth knowledge of Polish legislation, accounting standards and tax system. In addition, the language barrier must be taken into account, as all documentation and reporting must be in Polish. For many Ukrainian entrepreneurs, a more effective solution is to engage a local accountant or accounting firm, at least at the initial stage. This will help to avoid mistakes and ensure full compliance with Polish requirements. The service of a lawyer in Poland can help you assess your options and choose the most suitable accounting option for your business.
Choosing the form of accounting
There are several forms of accounting in Poland, and the choice of the most suitable one depends on the size and specifics of your business. The legal analysis service will help you make the right choice.
The main forms of accounting:
Full accounting
Simplified accounting (for small businesses)
Tax accounting (for individual entrepreneurs)
Outsourcing of accounting services
The legal opinion service will help you determine which form of accounting best suits your needs and legal requirements.
Accounting automation
The use of modern technologies can greatly simplify accounting in Poland. The document analysis service will help you choose the most suitable software and customize it in accordance with Polish standards.
Advantages of accounting automation:
- Reducing the risk of errors
- Saving time and resources
- Simplification of the reporting process
- Facilitating communication with tax authorities
- Possibility of prompt receipt of financial information
The online lawyer service can provide you with advice on the legal aspects of using electronic document management and automated accounting systems in Poland.
Liability for violation of accounting rules
Failure to comply with Polish accounting rules can have serious consequences for your business. Understanding the possible risks will help you avoid problems with regulatory authorities.
Possible consequences of violations:
- Financial penalties
- Administrative liability
- Criminal liability (in serious cases)
- Loss of trust from partners and clients
- Difficulties in obtaining loans and investments
The online lawyer service can provide you with prompt advice on how to act in case of violations and minimize possible negative consequences.
Peculiarities of accounting for different forms of business
Accounting requirements may differ depending on the legal form of your business in Poland. The service of a lawyer in Warsaw will help you to understand the specifics of accounting for your particular form of business.
Specifics for different forms of business:
- Sole proprietorship
- Limited liability company
- Joint stock company
- Representative office of a foreign company
- Branch of a foreign company
The written consultation service will help you get detailed information about the accounting requirements for your business type and avoid common mistakes.
Accounting in Poland for a Ukrainian business is a complex process that requires a deep understanding of local legislation, accounting standards, and the tax system. Proper organization of accounting is a key factor in the successful operation of your business in Poland and compliance with all legal requirements. Ignoring or improperly maintaining accounting records can lead to serious problems, including financial penalties, administrative and even criminal liability. In addition, it can negatively affect the reputation of your business and make it difficult to obtain financing or attract partners. Therefore, we strongly recommend that you seek professional assistance in organizing and maintaining accounting in Poland. Legal Marketplace CONSULTANT offers a wide range of services, including legal analysis and lawyer's consultation, which will help you to effectively set up an accounting system, avoid potential problems and ensure full compliance with Polish requirements. Do not risk your business - entrust accounting issues to professionals and focus on the development of your business in Poland.
