August 24, 2011, 10:37 pm
Poland is a republic in the Central Europe with 31.8 million citizens. Most of the people are Polish in a 98% rate, while the rest of the inhabitants are German, Ukrainian, Belarusian or Lithuanian. The country’s surface of 312,683 kilometers square is bordered by the Czech Republic, Slovakia, Ukraine, Germany, Belarus, Russia and Lithuania. The currency in Poland is Zloty (PLN) and the capital city is established at Warsaw. Anyway, other important cities in Poland include Krakow, Lodz, Wroclaw and Poznan. The national language is Polish. Poland is a member of many international organizations, which include Council of the Baltic Sea States (CBSS), Council of Europe (CE), European Organization for Nuclear Research (CERN), European Union (EU), International Monetary Fund (IMF), North Atlantic Treaty Organization (NATO), United Nations (UN), World Health Organization (WHO).
The work force in Poland is estimated to 17 million people, out of which 31.3% are hired in industry and construction, 13.3% work in agriculture and over 50% have a job in the services field. However, the unemployment rate is situated at 11.8%. The Gross Domestic Product in 2010 was estimated to a total of 476 billion dollars. Its most important partner for international trading is Germany, with whom Poland develops 30% of the exports and 24.4% of the imports.
Industry in Poland in based on machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles. Its most valuable natural resources are coal, copper, natural gas, silver.
Warsaw, the capital city, is generally the main attraction for foreign investors on Poland. In fact, its industry focuses on automobiles, electronic equipment, stainless steel products, tractors, clothing, precision instruments and processed food items.
Krakow is the fourth source of profit when it comes to industry and manufacturing, its key domains being steel, tobacco and pharmaceuticals.
The major industry in Lodz, the second biggest city of Poland, is textile industry.
The average salary for a Polish employee is 1,000 EUR per month, but it cannot be lower than 316 EUR, as this is the minimum wage stated in the Polish law.
Main corporate taxes
The Polish corporate tax rate is 19%, being among the lowest tax rates in Europe.
The VAT rate in Poland is 23% since 2011. However, there are still exceptions applied for several goods and services. The VAT rate is 8% and 5% on certain food, books, newspapers and other services. Financial and postal services are exempt from Polish VAT.
The dividend tax in Poland is generally charged for 19%, but in many cases, Dividends received by a resident company in Poland from a Polish company or a company that is resident in European Union are exempt from deduction.
BridgeWest offers company formation in Poland, including virtual office and other related services.Tweet
BridgeWest provides company formation in Poland. Our assistance includes:
> drafting the Articles of Association (necessary for the company incorporation in Poland); The Articles of Association can be si ... [More]