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Tax law in Lodz, Poland is primarily regulated by the national legislation of Poland, including the Income Tax Act, the VAT Act, and several other laws. These laws dictate the taxation obligations of individuals and businesses. Tax law can occasionally be complex and may change frequently. Poland goes by a progressive tax system with tax percentages ranging from 0% to 32%. Corporate tax or the tax levied on business entities is currently set at 19%. Companies in the Lodz region, like anywhere else in Poland, are also subject to the goods and services tax (VAT), which is set at 23% for most goods and services.
In Lodz and throughout Poland, you may require the services of a tax lawyer to sort out complex tax situations, manage disputes with tax authorities, or get guidance on tax obligation and planning. Situations may include: setting up a business, handling inheritance tax matters, dealing with tax audits or investigations, international tax issues, or managing real estate taxes. A tax lawyer can provide valuable advice tailored to your specific circumstances.
The primary legislation governing taxes in Lodz, and all around Poland, includes the Polish personal income tax (PIT) and corporate income tax (CIT). Tax obligations also include VAT registration and reporting duties. The standard CIT rate is 19%. However, a reduced 9% rate applies to small taxpayers earning sales revenue with other revenue of not more than EUR 2 million in the previous tax year, and to those starting new businesses for their first tax year in operation. The base rate of VAT is 23%, with reduced rates of 8%, 5% and 0% applicable to categories defined in the VAT Act.
All income earned by residents of Poland is subject to personal income tax. This includes income from employment, business activities, real property, capital gains, and other sources.
Yes, Poland has signed double taxation treaties with various countries to avoid the situation of taxpayers paying taxes twice on the same income.
VAT applies to most goods and services provided in Poland, including Lodz. However, some products or services are exempted or qualify for a reduced rate, as stipulated in the VAT Act.
Failure to pay your taxes on time in Lodz can result in penalties and late interest charges. In severe cases, it could lead to a tax investigation.
Yes. Polish tax lawyers are aware of the EU tax laws and regulations and can provide guidance on international tax matters.
The Ministry of Finance in Poland provides useful resources and updates on tax laws. The Central Statistical Office of Poland also offers valuable tax information. The websites of these organizations are a good starting point for understanding the tax laws in Poland.
For international tax matters, resources including the EU Taxation and Customs Union website can be beneficial. For disputes, it may be advisable to hire a local tax lawyer specializing in resolving tax issues.
Should you need legal assistance for tax matters in Lodz, Poland, it’s advisable to consult with a local tax lawyer. You can search for a reputable tax lawyer through online directories, or ask for recommendations from professionals such as accountants or other lawyers. Remember to look for a lawyer with an excellent track record in tax law related cases and, if necessary, expertise in your specific concern, for instance, international or EU tax laws.
