Poland — Business: Accounting

Key facts

• Poland requires businesses to maintain accounting records for at least 5 years

Steps

1. Obtain a tax identification number (NIP) for the business — Required to open a business bank account and for tax purposes, but the process for obtaining this number is unclear
2. Register for VAT (optional) — VAT registration is required for businesses exceeding a certain threshold, but the specific threshold and registration process are unknown

Costs

• Registration fees for the business register (KRS): PLN 250

Timelines

• Time to obtain a tax identification number (NIP): uncertain, potentially several weeks or months

Required documents

• Business registration documents (KRS), Tax identification number (NIP)
• unclear what additional documents may be required for VAT registration

Common mistakes

• Lack of understanding of local tax laws and regulations