Gear up for 2023 with Leinonen: The expert’s guide to Polish accounting landscape

If you are running a company in Poland, you probably know that there is a lot to learn about local business environment - and changes never stop coming. Fortunately, here you will find first-hand information to help you better grasp Polish accounting. Spondeo asked Maria Onikki-Górski, the Managing Director of accountancy and advisory firm Leinonen Poland, about trends in 2023, upcoming regulations, and rules that Finns find the most surprising about business climate in Poland. Maria also shared three handy tips for companies interested in entering Polish market.

What are the key trends in the accounting landscape in Poland today?

Poland follows global trends, which is why digitization and automatization have already started here with the support of advanced tools, including document flow, intelligent scanning, Robotic Process Automation and automatic bookings in the ERP system. There is also cloud accounting, which enables constant access to data and programs from anywhere, quick data exchange and increased data security. Accounting is nowadays a complex concept including other processes such as controlling and management reporting. Accountants provide local statutory expertise and solid data for decision-making, but they also understand the potential effects of significant business initiatives, including tax implications.

What changes are coming in 2023?

2022 was an extraordinary year in Poland, with the biggest tax changes (VAT, CIT, and PIT) in the last 40 years. The following year will bring some fine tuning regarding the initiated changes. Among the new interesting things on the horizon is obligatory e-invoicing (2023/2024) with real-time transaction registering for tax authorities. There are also planned changes in the Labor Code impacting the regulation of remote work, the introduction of a more unified EU standard of work-life balance, the terms of employment and new obligations for employers.

What are the most common questions from Finnish companies starting operations in Poland?

Poland is not usually comparable to other markets that Finnish companies are familiar with, so they need to learn to work in a new business environment. Some examples of this include:

● the practical need to use local accounting programs or invest in local customizing of the accounting system to fulfill system-based tax reporting requirements;

● converting transactions into PLN from EUR at the daily exchange rate of the National Bank of Poland (not ECB);

● complicated payroll system, including many variables extras, which are either taxable or non-taxable;

● contact with authorities is very formal and companies need to wait for a contact from the tax office;

● opening a bank account can be difficult and time-consuming.

What keeps surprising you in Poland?

The entrepreneurial spirit is strong in Poland and companies are very good at finding and utilizing market opportunities and gaps. Private businesses are agile and can adapt surprisingly fast to the ongoing changes.

What key tips would you give to Finnish companies entering the Polish market?

1. Plan well before starting operations & decide about things like the legal form of the company, financing and who can represent the company, etc.

2. Network and find local partners for support. Polish regulations can be challenging even for locals.

3. Take advantage of technical opportunities and prepare for the complete digitization of document exchange.

Maria Onikki-Górski is a Finn based in Warsaw

She has worked for about 20 years in finance and business in the CEE market

Leinonen Group is an international company with over 25 years of experience in accounting, tax and payroll & HR management. It has been present in Poland since 2008 and currently employs around 30 people in the country.

Leinonen Poland Sp. z o.o.

Piękna 68, 00-672 Warszawa

+48 22 623 84 18

leinonen@leinonen.pl

www.leinonen.eu

Are you interested in entering Polish market? How about boosting your sales or acquiring talent in Poland? Look no further!

Spondeo is a dedicated Finnish-Polish-Ukrainian team of sales experts and talent acquisition professionals who specialize in consulting, sales, remote recruitment, and go-to-market projects in CEE and Scandinavia. Growing in the Polish market can be challenging, but we are here to help!

Don’t hesitate to visit our website: www.spondeo.pl

Contact us:

Tuomas Asunmaa

tuomas@spondeo.fi

+48 514 615 048