Changes and news in the field of legislation and taxes (introduced and planned).
Appointment of the Ombudsman for Small and Medium-sized Enterprises. On June 22, Adam Abramowicz was appointed by the Prime Minister as a spokesman for Small and Medium-sized Entrepreneurs. The basic task of the spokesperson will be the implementation of the Constitution of Business. The tasks of the SME spokesperson will include, among others: giving opinions on draft legal acts concerning the interests of micro, small and medium enterprises and the principles of conducting business activity, assistance in organizing mediation between entrepreneurs and administration, or cooperation with non-governmental, social and professional organizations whose purpose is to protect the rights of entrepreneurs from the SME sector.
Split payment – in two months in Poland. On July the 1st, the split payment provisions enter into force. In two months the split payment will be valid in Poland. Banks will open a separate VAT account for each entrepreneur to the standard account used to run a business. If the contractor decides to make a payment via a bank transfer using a split payment, the part of the remuneration corresponding to the VAT amount will go to the VAT account, while the net amount from the invoice will be transferred to the regular account. The split payment will be used only in transactions made between VAT payers settled in the Polish currency. The use of the mechanism will be voluntary – the entrepreneur ordering the payment will decide to use this option independently for each transfer.
New information regarding online cash registers. Industries such as hairdressing, car mechanics or fuel retailers will have to enter online cash registers from the new year. Next in the order will be catering points, including those that operate seasonally. Diet is working on a new project of the Ministry of Finance. The changes are supposed to seal the system by PLN 11 billion. The “online” cash registers will be permanently connected to the Central Repository of the Cash Registering, to which sales data will be sent. This is to make their records more reliable. In connection with these changes, a refund of 90% is foreseen. purchase price (excluding tax), but not more than PLN 700 only when buying a completely new cash register.
A directive on posted workers disadvantageous for Poland. On 21st of June EU ministers responsible for social affairs finally approved the directive on posted workers in Luxembourg. The new directive is unfavorable from the point of view of the interests of Polish companies. It limits the period of posting workers to 12 months with the possibility of extending by six months on the basis of a “valid notification” presented by the entrepreneur to the authorities of the host country. The directive will affect particularly small and medium-sized transport companies. The enacted provisions stipulate that after the period of posting, the employee will be covered by the law of the host country and such will be remunerated. For Polish entrepreneurs sending employees to Western countries, this will mean higher costs. Amendments to the provisions in this case provide for payment of remuneration in the same way as for a local employee. The regulations are to enter into force in mid-2020.
The rising costs of expired invoices. Overdue invoices cost entrepreneurs more and more, the companies spend an average of 7.3 % on preventing payment delays and their effects. of total costs – according to the latest survey “Portfolio of receivables of Polish enterprises” of the National Debt Register (KRD) and the Conference of Financial Enterprises in Poland. In Q1 2018, the value of the Enterprise Indices Index (INP), illustrating the level of payment bottlenecks in Polish companies, fell to 89.9 points, which is the lowest since mid-2015, when the index was 89.1 points, and the lower its value, the less time the companies pay invoices. In the first three months of 2018, the percentage of overdue receivables in the portfolio Polish enterprises increased in relation to the fourth quarter of 2017 by 0.4 % points and amounted to 22.7%. This is the highest result for two years.
Financial statements in court – an indispensable PESEL. According to the amendment to the Act on the National Court Register, the application may be submitted only by at least one natural person whose PESEL number is disclosed in the Register [KRS], entered as a member of the authority entitled to represent [member of the board], a partner authorized to represent a partnership, the receiver or liquidator. The effect of the provision is that no members of the management board without a PESEL number disclosed in the National Court Register can file a free declaration, which in practice applies primarily to foreigners. In this situation, not only board members but also foreign companies representing Polish partnerships may have a problem if foreigners are in their management. The problem in the case of partnerships is even greater in that the registration courts less and less disclose in the National Court Register the data of such companies and persons representing their partners. Therefore, even if the representative of the partner representing the partnership manages to obtain the PESEL number, this number may not be disclosed in the National Court Register, and thus there will still be a formal obstacle to the free submission of the company’s financial statement in court.
Poland as a special economic zone. The Act on supporting new investments, which entered into force on Saturday, June the 30th, assumes that the entire area of Poland designated for business activity will become one investment zone. The new regulations allow tax exemptions for investors for 10-15 years. The undertakings that affect the competitiveness and innovation of regional economies are to be rewarded. Companies can also count on support in exports. The Act provides that any company in any city or municipality will be able to apply for tax breaks and preferential terms. By departing from territorial restrictions, the time of issuing decisions on support is to be shortened (so far it has been from half a year to two years). Micro, small and medium companies do not have to move to individual zones and invest away from their area of activity, but where it is more convenient. Entrepreneurs who already have a business license under the 1994 Special Economic Zones Act will be exempt from tax until 2026.
Unemployment – the most recent data at this link (from May – published at the end of June): https://stat.gov.pl/obszary-tematyczne/rynek-pracy/robotnicze-rejestrowane/bezrobotni-zarejestrowani-i-stopa-bezrobocia-stan -w-end-May-2018-r, 2,70.html
Ranking of loans for companies for May – http://oferty-kredytow.com/ranking-kredytow-dla-firm/
The reference rate – unchanged from previous values, is still 1.5%.
Progress Holding Sp. Z o.o.