Poland is located in Central Europe and has a territory of 312,679 square kilometers. Poland borders Ukraine, Czech Republic, Germany, Lithuania, Slovakia and Belarus. The capital city of Poland is Warsaw, the largest city and the location of key government institutions. Poland has a population of 38,5 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - Standard tax rate 19% or reduced rates from 5% up to 9%
- Dividend withholding tax - 19%
- Interest withholding tax - 20%
- Royalties withholding tax - 20%
- Capital gains tax - 19%
- VAT - Standard tax rate 23% or reduced rates from 0% up to 8%
- Personal income tax - from 18% up to 32%.
The following are the most common types of companies to incorporate a company in Poland as:
- Limited liability company (Spółka z ograniczoną odpowiedzialnością – Sp. z o.o.)
- Public limited company (Spółka akcyjna - S.A.)
- General partnership (Spółka Jawna – Sp.J.)
- Limited partnership (Spółka Komandytowa - Sp.K.)
- Partnership limited by shares (Spółka Komandytowo-Akcyjna – S.K.A.)
- Civil law partnership (Spółka Cywilna – Sp.C.)
- Branch office (Oddział).
Official currency of Poland is Polish złoty (PLN).
Polish economy is one of the most stable economies among post-soviet states and one of the fastest developing economies in the EU. There are a well-developed internal market in Poland, a flexible national currency and independence from a single-sector export, which allowed Poland to avoid the recession of late 2000s.
Export of Poland consists of machinery, furniture, food industry, clothing and cosmetics. The major trading partner of Poland is Germany.
Growth of real GDP of Poland was 5,1% in 2018 and amounted to USD 580,6 billion, which was possible due to a high internal consumption and a large amount of foreign investments.