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Doing Business in Poland

Doing Business in Poland. Mark Hofman. Poland. Overthrew communist rule in 1989 Joined the European Union in 2004 Population of 40 million 6 th largest economy in the European Union Ranked of “Very High Human Development” 1 Polish gross national income (GNI) per capita €13,276 1

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Doing Business in Poland

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  1. Doing Business in Poland Mark Hofman

  2. Poland Overthrew communist rule in 1989 Joined the European Union in 2004 Population of 40 million 6th largest economy in the European Union Ranked of “Very High Human Development” 1 Polish gross national income (GNI) per capita €13,276 1 Hungary (2005 - 2011) €12,613 1 Slovakia (2005 - 2011) €15,214 1 Czech Republic (2005 – 2011) €16,285 1 United Nations: Human Development Index 2011 1 http://hdr.undp.org/en/media/HDR_2011_EN_Table1.pdf

  3. Poland – Import/Export GDP: (purchasing power parity) €580.9 billion (21st) 2 Exports have grown from €40.19 billon - €112.7 billon (2001 – 2011) Imports have grown from €56.03 billion – €124.3 billion (2001 – 2011) 3 Agricultural products: potatoes, fruits, vegetables, wheat, poultry, eggs, pork, dairy Core Industries: machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles, rubber, electronic, plastics CIA World Factbook 2 https://www.cia.gov/library/publications/the-world-factbook/geos/pl.html Invest in Poland 3 http://www.paiz.gov.pl/poland_in_figures

  4. Polish – British Trade In 2010 total bilateral Polish - British trade was worth €11.4 billion Polish imports from Britain totalled €4.29 billion Polish exports to Britain reached €7.11 billion The UK exports as many goods to Poland as to India More goods are exported from Britain to Poland than to Australia, Russia or Turkey Britain is Poland's 3rd largest export market (after Germany & France) 300 flights per week between the Britain – Poland & 2 direct freight trains between Wroclaw and London 4. UK Trade & Investment http://www.ukti.gov.uk/de_de/uktihome/search.html?search=poland&sort=ByScore

  5. Foreign Direct Investment Poland is ranked the worlds 6th most attractive investment location 5 The Polish economy grew 4.3% in 2011 and has so far stayed out recession 6 In recent years the Polish economy has been developing at twice the rate of Western Europe Young well educated workforce, many of whom speak English A strong strategic location at the heart of Europe and mid-way point for the historic Berlin – Moscow trade route Competitive labour costs and a large internal market Poland has a stable market orientated multi – party democracy 5 United Nations Conference on Trade & Development: World Investment Report 2011 http://www.unctad.org/Templates/Page.asp?intItemID=1465&lang=1 6 Invest in Poland http://www.paiz.gov.pl/invest_in_poland

  6. Tax Corporate income tax is 19% Personal income tax is in two bands – 18% and 32% Basic rate of VAT is 23%, which applies to majority of goods and services 5% - 8% VAT rate for many everyday items 0% VAT for export goods, international transport services and intra – community supply of goods Total of 9 direct and 3 indirect taxes 7 Krakow Info http://www.krakow-info.com/taxes.htm

  7. Incentives Local authorities can provide grants and tax incentives for investors Subsidies co – financed with the EU’s structural funds, worth €67 billion – 2013 14 Special Economic Zones offering exemption from income tax, real estate tax, subsidies for hiring the unemployed and employee training Polish government is offering generous incentives for investors in the following sectors: • Automotive • Aviation • Machinery & steel industry • Service centres • R&D • I T • Telecommunications • Energy • Biotechnology • Electronics • Domestic appliance market • Boat building • Industrial design 8 Invest in Poland http://www.paiz.gov.pl/publications/about_poland

  8. Further Information & Intelligence British Polish Chamber of Commerce Invest in Poland Agency (Palilz) Polish Agency for Enterprise Development (PARP) (SME’s) UK Trade & Investment Poland Enterprise Europe Network Warsaw Chamber of Commerce Warsaw Business Journal (Market trends and economic forecasts) Point to Point Export Services (Private sector)

  9. Doing Business in Poland Mark Hofman

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