Poland

Bookkeeping 

In recent years, many aspects of Polish legislation, inter alia tax and accounting laws, have changed on numerous occasions. Sometimes the interpretation of legal matters can be quite difficult and complex. A growing number of foreign companies intending to set up their businesses in Poland require in the initial stages the assistance of a professional advisory company. KPMG in Poland has a specialised department that deals with the entire spectrum of accounting issues assisting clients in their day-to-day accounting procedures, either on a short or long-term basis.

Contact

Izabela Szabelska

Izabela Szabelska

Director, KPMG w Polsce

+48 (22) 528 11 00

Using well-tested methodologies, tools, knowledge and experience, KPMG’s Bookkeeping practice provides services relating to:

 

  • Bookkeeping and financial reporting
  • Tax compliance, including registration with the tax authorities and assistance with tax liability payment transfers
  • Payroll administration and related tax and social security compliance
  • Complete management of personal files required by applicable regulations of Polish Labour Law.

 

 

Book-keeping and financial reporting services

 

  • Setting up, in co-operation with clients, of the Polish Chart of Accounts in accordance with the Accounting Act dated 29 September 1994
  • Setting up of an accounts data base (opening of the accounting books)
  • Handling the bookkeeping according to information provided by the client
  • Preparation of periodic management reports in accordance with the client’s standards
  • Preparation of annual financial statements in accordance with the Accounting Act dated 29 September 1994 and subsequent secondary regulations
  • Liaison with the client’s auditors and the tax authorities.

 

 

Tax compliance services

 

  • Calculation of monthly Corporate Income Tax base and tax advance
  • Preparation of annual Corporate Income Tax returns
  • Preparation of monthly VAT returns
  • Timely delivery of the above tax return forms to the tax authorities
  • Preparation of reports for Government Statistical Office (GUS), National Bank of Poland (NBP) and tax authorities if required
  • Liaison with the client’s tax authorities.

 

The Polish tax system is designed in a way that taxes are paid on a monthly basis. There are several tax return forms to be filed with relevant authorities, and all of them have a different filing deadline.

 

Payroll administration and related social security compliance services (for Polish tax residents)

 

  • Registration of the employer for social security purposes and at other authorities
  • Registration of the employee for social security purposes •Calculation and production of pay slips for employees
  • Settlement of civil law agreements (e.g. service agreements)
  • Preparation of monthly employees’ report (RMUA)
  • Calculation of monthly Personal Income Tax advance
  • Preparation of an annual Personal Income Tax return
  • Preparation of monthly social security (ZUS) declarations
  • Timely delivery of the above tax return forms and social security declarations to the related authorities
  • Liaison with a client’s statutory auditors and the tax authorities.

 

Services related to management of the employees’ personal files:

 

  • Maintenance (in accordance with the Polish Labour Code) of employee files and documentation connected to employment
  • Information regarding the necessity of obligatory medical checks-ups
  • Information about the necessity to conduct obligatory health and safety-at-work legislation training
  • Record of due holidays and other work absences
  • Report preparation for Government Statistical Office (GUS)
  • Notification of legal changes in connection with maintaining employees’ personal documentation.

 

Payroll is a very delicate matter and many businesses insist on having their payroll done externally. The benefits of turning to us include that we ensure full confidentiality, the service offered is cost efficient and, moreover, payroll and social security laws are very complex and are changing, therefore it requires an in-depth knowledge and on-going training.

 

Potential Benefits for clients

 

Polish accounting and tax regulations are very strict and therefore it is advisable - at least in the initial stages - to have a professional services firm assisting in dealing with such problems on a daily basis. Our offer comprises a complete, rational and wide-ranging service offering helping to ensure delivery of a top notch service at a cost-effective price. By outsourcing accounting services with KPMG, our clients can benefit from a team of qualified accountants and payroll practitioners, the increased efficiency and accuracy of financial services as well as cost and risk reduction. We work together with clients on their accounting functions, produce meaningful data for management, prepare the payroll for employees, fulfil tax return filing duties, and let you concentrate on doing business.

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