Entries from July 2017

Business succession - worth giving it some thought well in advance!

20 July 2017

Marcin KAWKA

We were recently asked for assistance in carrying out a “mission impossible” project. On his deathbed, the owner of a single-member business asked himself what will happen to his business after his passing. His daughter, who has been involved in running the company, wanted the family business to continue. Unfortunately, single-member companies cease to exist upon the death of a proprietor as succession proceedings may take months or even years, by which time the entities have long since disappeared from the market.

General rules for recognising borrowing costs

17 July 2017

Leszek WOZIŃSKI

The company's activity, including the acquisition and production of assets, is often financed from external sources (loans or credits). Such type of financing involves the payment of interest and other costs associated with the borrowing of the funds, i.e. the borrowing costs.

Tax loss as an element of determining and accounting the deferred income tax

17 July 2017

Zuzanna WOJCIECHOWSKA

During the year a number of economic events take place in a company, affecting the overall image of the entity. Not always, however, do those events have the same impact on the entity's results presented in accordance with the tax law and the balance sheet law. The discrepancies between the tax and balance sheet system are caused by different principles, functions and different methods of valuation of assets and liabilities components, which, consequently, leads to temporary positive and negative differences between the values stipulated in the financial statement and those that would be calculated and presented on the basis of the tax law.

When a company initiates its operations in Poland – how to go through the registration process?

14 July 2017

Aleksandra KORZEŃ

When providing accounting and tax compliance services to national and international entities, I often see how difficult it is for an entrepreneur, especially a foreigner, to go through the company registration process and comply with all the associated formalities.

How to invest well in Poland

7 July 2017

Monika WOLARSKA

What makes Poland such an attractive place for investment? Are German companies, from the perspective of time, satisfied with having invested their capital in Poland?