The organisational framework for companies is based on the Commercial Code from 1934, they can therefore be too rigid and not always fit to market needs. This is intended to change the new law for entrepreneurs. This particularly applies to innovative start-ups companies. It is precisely with them in mind that consultations have been launched to develop a new form of the company.
There is no doubt that the potential of our start-ups is enormous. To meet them and to make the most of their solutions, we propose a new form of doing business in Poland. We are initiating consultations on the Simple Equity Company. This is the starting point for us to continue working on regulations," says Minister of Entrepreneurship and Technology Jadwiga Emilewicz.
PSA – planned changes
Simple Stock Company is another solution from a package of facilitations for entrepreneurs – 100 changes for companies, prepared by the Ministry of Entrepreneurship and Technology. The planned improvements to be provided by PSA include:
- • quick electronic recording (in 24 hours by means of a form, in addition to the possibility of ‘traditional’ registration,
- • reduction of capital at the start, enough already 1 PLN,
- • easier ownership of the company’s resources – no share capital,
- • contributions during 3 years after registration, also in the form of work or services, i.e. no barriers to entry,
- • lack of the status of a public company and the related restrictive obligations,
- • simplified, much cheaper records of dematerialised shares, conducted by e.g. bank or notary – we allow the use of blockchain to keep records, opening up to state-of-the-art technologies,
- • wide use of electronic communication in the adoption of resolutions, holding shareholders' meetings,
- • no complex organisational requirements – enough 1-the personal board is not obliged to create a supervisory board,
- • simplified liquidation by acquisition of assets and liabilities,
- • the contribution to the company can be what constitutes the most important initial start-up capital, i.e. work, know-how or services – no "artificial" share capital is needed. This possibility is not offered today by any capital company,
- • the number of shares and the position in the company does not have to result from who contributed the funds to the company,
- • the shares of the company can be provided with a variety of rights, e.g. to provide appropriate "power" to the founder actions that protect the position of investors or issue silent shares to investors,
Business facilitation package
As part of the package prepared by the Ministry of Entrepreneurship and Technology 100 changes for companies, many facilitations for entrepreneurs are introduced. Changes include increasing the thresholds for the transition to accounting books, increasing the limit for flat-rate accounting, introducing facilitations in construction investments, or increasing protection against changes in the interpretation of the law.
The most important changes in regulations for entrepreneurs include:
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a higher threshold for “full” accounting and lump sum. The revenue limit to which the tax revenue and income accounts (small accounting) can be kept has been raised from 1,200,000 EUR to 2,000,000 EUR. The revenue threshold for the registered lump sum was raised to 250,000 EUR;
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no interest for chronic procedures. The principle of summing up time limits and not charging interest for late payment in case of errors by tax authorities if the tax decision is repealed or the decision is annulled and the case is re-examined) has been introduced;
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the request for reconsideration will be optional. Without an application, you can file a complaint with the WSA.
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reducing the burden of control. Tax control must not undermine the findings of prior control. If we want to avoid a long-term review of the various offices, we will allow joint inspections of the different authorities, if they concern the same case.
More info: https://www.biznes.gov.pl/przedsiebiorcy/biznes-w-polsce/prowadze-firme/ulatwienia-dla-firm-od-2017/100-zmian-dla-firm