Poland is one of the most popular business locations in Europe. Due to the relatively large population and growing domestic consumption, diversity of economic structure and good access to Western and Eastern European markets, the country is already appreciated by a significant number of foreign entrepreneurs.
The aim of this publication is to provide an easy access to practical and valuable information which is intended both for entities planning to export and sell their products and for investors who plan to start a business in Poland. "Business and Taxation Guide to Poland 2022" consists of 12 sections. Each of them provides a comprehensive summary of one of the key areas of the business environment. These areas include, among others - general information about the investment climate in Poland, opportunities and possible obstacles for foreign investors, or a detailed description of the business taxation and social charges.
312679km2 is the area of Poland, bordering Russia and Lithuania to the north, Belarus and Ukraine to the east, Slovakia and Czechia to the south and Germany to the west.
38,5mlnPoland's population. The population density is 122 inhabitants per km².
23biggest economy in the world. Poland’s economy has characteristics of both an emerging market and developed economy, although in recent years it has looked increasingly like the latter.
Why is Poland attractive for foreign investors?
Attractive and stable economy
Poland’s economy is one of the most developed in Central and Eastern Europe. The country boasts solid macroeconomic fundamentals, has relatively high growth potential, and a strong labour market. Poland’s economic growth averaged just above 3% over the past decade. Poland is a member of all the organizations and unions mentioned below, providing the country with more security and economic opportunities: OECD, NATO, EU.
Poland has a good access to Weastern and Eastern European markets, which makes it a perfect location for companies doing business and wishing to export their products both to the East and to the West.
Diversity of sectors
Constant development of the Polish market and rapid growth of internal consumption opens up opportunities in a variety of sectors. One of the sectors that have flourished in recent years has been the gaming sector, with Poland being well-known as one of the most important producers of video games in Europe.
Highly educated and qualified workforce
Poland has a large number of young educated workers with foreign language skills, at the same time remaining a country with one of the lowest labor costs in the European Union.
Poland is a financially stable country. Its general government gross debt as % of GDP was 53.8% in 2021 compared to the EU average of 88.1%. Moreover, compared to other EU countries, Poland remains the sixth economic power. Despite the crisis caused by the Covid-19 pandemic, Poland had a stable economic situation compared to other European countries.
According to the Bloomber Innovation Index 2021*, Poland was ranked 23rd and scored a total of 73.38 points out of the possible 100. Poland was ahead of countries like: Hungary, Slovakia, Greece and Spain. Poland came out especially well in sectors such as: R&D intensity, productivity, tertiary efficiency, researcher concentration and high-tech density.
"Business and Taxation Guide to Poland 2022" prepared in partnership with Ebury is intended to answer some of the essential questions that may arise when establishing and operating a business in the country. Before making any decision or taking any action that might affect your business, we recommend you to consult a qualified professional adviser. Mazars in Poland team will be pleased to discuss specific problems with you.
Insight and innovation to guide you through today’s evolving global tax landscape. Mazars is a global integrated firm with presence in world major economies, so we well understand the complexities of tax in today’s global economic climate.
We live in a world of economic and geopolitical instability. To make the right investment and expansion decisions, businesses need to understand all the forces at play, anticipate new challenges and capture the opportunities.
The beginning of 2022 signalled to what was to be a turbulent year for both European and global market, as Russia invaded Ukraine on 24 February. Trends that were already in play in 2021, rising inflation and higher borrowing costs, were greatly amplified. The war unleashed supply shocks, notably in the wholesale gas market.