Recently the Ministry of Family, Labor and Social Policy has submitted a proposal to extend the period of preferential contributions to the Social Insurance Institution (ZUS) for new business activities. The period of preferential ZUS contributions would last three years instead of two as it is now. According to some, this idea is not justified when the demand for labour is clearly growing. Even more so that people who do not manage as entrepreneurs should become employees.
Discussions about the new governmental bill on VAT are ongoing. The idea of introducing the mechanism of a so-called “split payment” on the basis of goods and services tax is assessed positively. This is a proven way to reduce the scale of tax evasion and fraud. Continue reading
The Commercial Companies Code stipulates that a professional partnership is a partnership formed by partners to practice liberal professions in a partnership running a business under its own name. The last element of this definition, the own name of a professional partnership , is the subject of today’s entry.
From the observation of the current market economy model in Poland and the reading of the regulations governing the basis of economic activity, several traits of entrepreneurs can be derived. The following article will focus on these characteristics.
The ministry of finance has published the information stating that micro-entrepreneurs will be able to count on a faster refund of goods and services tax (VAT). Micro-entrepreneurs may get their refunds even within 15 days. However, in order for this to happen, it is necessary to verify the correctness of the VAT refund within this time limit.
In 2019, the Ministry of Finance may withdraw from traditional VAT declarations. All within the next steps of implementing innovative solutions in the department and its subordinate offices. Much depends on how the functioning of a Single Control File will be assessed. Hence the changes will only come into force in 2019, and it is highly likely that even later.
The finance department intends to publish the information on how high is the income tax paid to the tax authorities by the largest Polish entrepreneurs. In the meantime, in the opinion of entrepreneurs, publishing this information might be misleading by suggesting that entrepreneurs who do not use tax optimization mechanisms and have a low income, or even a loss, avoid paying taxes.
The family, work and social policy department has introduced a new project that implements the 500+ program for retirees. As of March 2018 the pensioners who receive monthly lower pensions will receive extra 500 zlotys. At the moment the minimal pension is 1000 zlotys.
If the employer has delayed the employee’s holiday, they are obliged to reimburse the employee for all costs directly related to the postponement. What is important, however, is that this does not generate revenue on the part of the employee – the employer will count this sum among their tax expenses.