Doing business in Poland involves compliance with certain accounting and financial reporting regulations. For many companies – both Polish and foreign – understanding local standards can be a challenge. This is why more and more companies are choosing to work with external accounting service providers such as INTERTAX. This not only gives them access to specialist knowledge, but also optimizes costs and improves financial management.
Polish Accounting Act – the basis of the system
In Poland, the main act regulating accounting is the Accounting Act, which was legislated on 29 September 1994. It defines the framework for the keeping of accounting books, the preparation of financial statements and the information obligations of business entities. Accounting standards in Poland, also known as GAAP (Generally Accepted Accounting Principles), aim to ensure transparency, consistency and reliability of financial data.
International Financial Reporting Standards
In certain cases, especially for listed companies, Poland allows the use of International Financial Reporting Standards (MSSF/IFRS). These standards are more comprehensive and demanding, but at the same time allow for greater comparability of financial data in the international market. Parent companies whose shares are listed on a regulated market are required to apply IFRS when preparing their consolidated financial statements.
Practical challenges for entrepreneurs
In practice, GAAP or IFRS accounting can be complex and time-consuming. Frequent changes in regulations and the need to prepare multidimensional reports (balance sheet, income statement, cash flow statement) pose significant operational and formal challenges for entrepreneurs. For many companies, this means additional costs and the risk of mistakes.
INTERTAX – expert in accounting outsourcing
In response to these needs, INTERTAX offers comprehensive outsourcing of financial and accounting services in Poland, allowing companies to focus on their core business. With many years of experience in the Polish market, INTERTAX is familiar with the specifics of local regulations and effectively assists clients in meeting their accounting and tax obligations.
We provide services in accordance with the Polish Accounting Act and, where required, using IFRS. Our offer includes, inter alia, bookkeeping, preparation of periodic and annual financial reports, tax returns, statistical reports, as well as personnel and payroll services tailored to each client’s unique operational needs.
Benefits of outsourcing accounting
Using INTERTAX services is not only a guarantee of compliance with current standards, but also a number of tangible benefits. First and foremost, it significantly reduces operating and staff costs – the company does not need to maintain an internal accounting department. At the same time, the efficiency of financial processes is increased thanks to access to experienced experts and modern analytical tools.
Responsibility for the accuracy of the accounts and the timeliness of the reports is taken over by an external partner, which significantly reduces the risk of errors, tax penalties and the stress of official audits. An additional advantage is the possibility of receiving reports and statements in English – particularly valuable for foreign shareholders, investors and business partners who expect full transparency and clarity of financial data.
Trust in years of experience
INTERTAX’s long-standing presence in the market has allowed it to develop proven methodologies and implement modern tools to support clients in managing their reporting and tax obligations. More information on out accounting services in Poland can be found on our website: https://polishtax.com/services/accounting-services/. As a result, companies can count on stable, predictable processes and expert advice adapted to changing regulations. This not only saves time, but also provides greater peace of mind in the day-to-day running of business in Poland, regardless of the scale of operations and industry.
