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Poland gives investors a boost

PR dla Zagranicy
Victoria Bieniek 29.06.2018 14:57
Investors will be entitled to tax breaks across Poland when a new law to boost investment comes into effect on Saturday.
Photo: QuinceMedia/Pixabay (CC0)Photo: QuinceMedia/Pixabay (CC0)

Under the new law, tax breaks and investment incentives previously available only in Special Economic Zones will be extended to all of the country.

Special Economic Zones covered less than one percent of Poland's area, and had been governed by largely the same rules since they were set up more than 20 years ago, Poland's entrepreneurship ministry said.

“The law stopped keeping up with the dynamic market situation in Poland and globally, which resulted in regional divisions,” Entrepreneurship Minister Jadwiga Emilewicz said in a statement.

She said the different rules in the areas caused a lot of red tape which saw investors rethink doing business in Poland.

Under the new rules, small and medium-sized businesses will be able to enjoy tax breaks for between ten and 15 years, regardless of where they are based, and will not be limited in choosing where to invest.

Meanwhile, Deputy Entrepreneurship Minister Tadeusz Kościński said Poland would guarantee security for more than 2,000 investors, who employ more than 300,000 people.

He said the rules for those companies will not change and that they will continue to enjoy tax exemptions until 2026.

The ministry said the new rules would be good for local investors – who will be able to benefit from tax breaks while conducting their business close to home – for foreign investors, who can choose any location in Poland for their endeavours, and for workers, with more than 200,000 new jobs expected to be created within ten years. (vb)

Source: PAP

tags: investment
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