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Requirements for Submitting Financial Statements in Poland
Updated on Friday 02nd November 2018 Rate this article
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Companies in Poland need to comply with a new format for submitting financial statements starting with October this year. The e-financial statements are part of the Amendments of the Accounting Act and make it mandatory for those who open a company in Poland to file according to the e-SFS format.
New requirements for electronic filing in Poland
According to the new requirements, companies not only need to file the statements in an electronic form, but they will also need to be signed with an electronic signature. Polish legal entities that prepare the financial statements in accordance with the International Financial Reporting Standards need to follow a certain logical structure and format when the said statements are then made public in the Public Information Bulletin of the Ministry of Finance.
The specific requirements for the structure and format have yet to be published, however, our team of Polish company formation agents can help you with additional information once these become available.
Accounting requirements in Poland
The following list includes the most important issues to take into consideration regarding the Polish accounting requirements:
- - the accounting standards in Poland: they are similar to the existing international ones and the preparation of financial statements in accordance with the International Financial Reporting Standards (IFRS) is mandatory for those companies listed on the Warsaw Stock Exchange. The accounts, documents, reports, and records must all be prepared in Polish.
- - the needed documents: the annual financial statements include the balance sheet, profit and loss account, notes and additional supporting documentation (as needed).
- - filing: all annual accounts are filed with the Registry Court; for electronic filing, the company representative must use his own account.
- - audit: a set of additional requirements apply to certain types of companies in Poland such as banks, insurers, investment, and pension funds. These legal entities must audit their annual accounts.
Our team of agents who specialize in company formation in Poland can help you with detailed information about the accounting and reporting requirements for companies.
Contact us to find out more details about this subject as well as to receive personalized assistance for company formation.
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