Accounting and Payroll in Poland
VON ZANTHIER & DACHOWSKI
Accounting & Payroll
Knowledge of accounting principles, financial and payroll accounting is crucial for the successful operation of any company. Our long-standing cooperation partner MGI Modzelewski - Tax & Accounting works closely with us to ensure compliance and optimise your company's operating and financial costs.
MGI Modzelewski - Tax & Accounting offers personalised solutions that respond to changes in legislation. The team of experienced experts offers both traditional accounting services and modern digital solutions.
Who do we support?
We can help you in particular if you are dealing with the following challenges:
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You are an investor from Germany, Austria or Switzerland (i.e. the DACH region) and need support in adapting to local accounting and payroll requirements
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You are looking for ways to optimise operating and financial costs through efficient financial and payroll accounting
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You are concerned about the legal and financial risks arising from possible discrepancies in bookkeeping and payroll accounting
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You need to ensure that you comply with local tax regulations and understand your tax reporting obligations in Poland
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You are looking for support in maintaining relations with Polish tax offices and other Polish authorities.
How can we help?
We support our clients primarily in the following areas:
Accounting
keeping financial records, including balance sheets, financial reports and tax returns, in accordance with Polish and international standards.
Reporting on financial results
According to Polish and international standards, in accordance with the templates provided by our clients.
Payroll services
Comprehensive payroll services, including the calculation of wages and salaries, the settlement of social security contributions and taxes as well as support with social security audits (ZUS).
Tax advice
optimisation of tax payments, preparation of tax returns and representation before tax authorities.
Optimisation of personnel costs
advice on the effective management of employment-related costs, including strategies to reduce costs without breaching employment law.
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Why is it worth it?
It's worth making use of our services, because:
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Accuracy and punctuality:
We ensure accurate and punctual accounting and payroll, which guarantees compliance with regulations
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We are flexible:
if required, we develop customised solutions and report templates together with the client that are tailored to their specific needs and requirements
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We understand DACH:
We have extensive experience in working with clients in the DACH region and know their key needs and expectations
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We think ahead:
We help with strategic financial planning and risk management and support the long-term development of the compan
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Always prepared:
The Polish tax system is characterised by frequent legal changes that can affect various business areas. We support the implementation of legal changes at your company by adapting accounting strategies or proactively preparing for changes.
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Your experts in Poland: accounting & payroll
FAQ
Who has to keep full accounting records in Poland?
In Poland, all commercial corporations (sp. z o. o., S.A.), branches of foreign companies and entrepreneurs with an annual turnover of more than EUR 2 million must keep full accounting records.
What currency must the trading books in Poland be kept in?
Accounting in Poland should be kept in the Polish currency (PLN). In the case of transactions in foreign currencies, conversion into PLN is required according to the respective exchange rates.
Does the accounting have to be in Polish?
Yes, according to Polish regulations, all books and related documents must be kept in Polish.
What are the most important tax deadlines in Poland?
CIT (corporate income tax): Advance payments must be calculated and paid by the 20th of the month following the month to which the advance payment relates. No declaration is made and each taxpayer must pay the tax on time (this is partly different in Germany, where a notice of assessment is often issued first). At the same time, the amount of the advance payments is determined on the basis of precise monthly records, and the amount of the advance payments can be questioned in the event of a tax audit, which requires the payment of interest on arrears.
Value added tax (VAT): VAT returns must be submitted monthly by the 25th of the month following the month to which the return relates. As a rule, it is not possible to submit VAT returns on a quarterly basis.
ZUS (Social Insurance Institution): Social insurance contributions must be paid by the 15th of each month for the previous month.
PIT (Personal Income Tax): Personal income tax for employees must be settled and paid by the 20th of the month following the month to which the remuneration relates.
What are the most important dates for the end of the financial year in Poland?
Preparation of annual financial statements: The annual financial statements must be prepared within three months of the end of the financial year, i.e. by the end of March for companies whose financial year follows the calendar year.
Approval of the annual financial statements: The annual financial statements should be approved by the relevant corporate bodies (e.g. the Annual General Meeting) within six months of the end of the financial year, which for most companies means by the end of June.
CIT declaration for the financial year: The CIT 8 declaration summarising the financial result for the financial year should be submitted to the tax office by the end of the third month after the end of the financial year at the latest, i.e. usually by the end of March.
Can accounting in Poland be carried out by foreign experts?
No, accounting in Poland by foreign experts is not recommended due to the complexity and specificity of Polish tax and accounting law. It requires in-depth knowledge of local regulations and constantly updated knowledge.
Can accounting documents be processed electronically and bookkeeping kept digitally?
Yes, accounting documents can be processed electronically and bookkeeping can be done digitally. Polish law allows electronic bookkeeping and the storage of documents in electronic form. This enables more efficient financial management and faster access to documents and financial data.
Until when can employees be paid and can employees be employed under foreign labour law?
Wages must be paid at least once a month within the time frame specified in the company regulations, the employment contract or the collective labour agreement. At the latest on the 10th of the month following the month for which the wages are due. In practice, most companies not involved in production pay wages by the last day of the month to which they relate. The employment of workers in Poland is carried out in accordance with Polish labour law. This includes employment contracts, working conditions, wages and compliance with health and safety regulations.
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