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Closing of the accounting books and tax year during the liquidation of the LLC in Poland

The opening of the liquidation of a Polish limited liability company results in the need to close and reopen the accounting books and close the tax year and open a new one.

This usually results in two financial statements and two annual tax returns.

#PolishLegalTips #Liquidation #Dissolution #Company #LLC #Accounting #Tax #Year #Law #Commercial #Companies #Poland #WisniewskiLegal

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Damages are not subject to VAT in Poland

Damages (odszkodowanie) for improper performance of contracts should be treated in Poland as an activity not subject to VAT.

On the other hand, for a performance to be considered a VAT-taxable service, there must be a direct relationship between the performance and the payment and exchange of mutual benefits.

#PolishLegalTips #Tax #VAT #Damages #Taxation #Services #Law #Poland #WisniewskiLegal

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