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

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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

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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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