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If in the settlements with counterparties  in the framework of business activity you use cash and not a bank account, you should know that from 1 January 2017 the limit on transactions which may be carried out without using the bank account will be reduced from the current EUR 15 000 to PLN 15 000

This means that any transaction above this limit (regardless of the number of payments made in the framework of this transaction), must be made through your account.  This will also apply to foreign currency transactions.  They will be converted into PLN at the average foreign exchange rate published by the National Bank of Poland on the last working day preceding the date of the transaction.

Sanctions for exceeding the threshold of PLN 15 000

Entrepreneurs who contrary to provisions make transactions above PLN 15 000 in cash rather than via bank account, will not be able to include this amount as tax deductible expenses (in the event of failure to reduce the costs of obtaining the revenue —  they will have to increase revenues).

An act introducing relevant changes in the regulations on the freedom of economic activity and the income tax of natural persons and legal persons was signed on 30 May 2016 by the President of the Republic of Poland.  Draft of amendment act can be found here.

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