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General regulations concerning financial year end

  • Description

Date: 2011-01-20 13:00

According to Polish law each capital company at the financial year end needs to fulfill some obligations under the Commercial Companies Code and Polish Accounting Act. The most popular capital company is limited liability company in Poland so let’s consider what requirements must be met in relation to this type of entity. The company has to arrange internally, or through its provider, the following:

  • Preparation of a set of Polish Financial Statements in the local currency;
  • Preparation of the Activity Report by the Management Board covering items such as description of significant events which occurred during  the financial period, post balance sheet events, current financial position, financial plans for the future, significant achievements, financial risk etc.
  • Approval by the shareholders of the above Financial Statements and Activity Report;
  • Submission of the above documents to the tax office;
  • Submission of the above documents to the National Court Register (KRS).                                       

The financial statements should be prepared within 3 months and approved within 6 months of the year end. They should be submitted together with any necessary enclosures to:

  • Tax office – within 10 days from the date of their approval;
  • Commercial Register (KRS) – within 15 days from the date of their approval.

Source: Trinity_Shelf_Companies 
Market leader in Poland and one of the pioneers of ready-made, shelf companies
in the CEE.