The Polish Parliament has agreed to implement the majority of
amendments proposed by the Senate regarding simplifications in
bookkeeping for small businesses. The amendments will now be
forwarded to President Bronisław Komorowski for review.
The aim of the amendment to the Accounting Act is to adjust
Polish law to EU regulations as well as to introduce
simplifications to small companies. In line with the amendment,
companies with less than 100 000 PLN income will benefit from the
simplifications in bookkeeping.
According to the amendment, small companies will be able to
prepare shortened financial statements comprising of only a
simplified balance sheet, profit and loss and additional
information with limited quantity of data. Furthermore, those
companies will not need to prepare the activity report, provided
that some information which had been required to be reported so
far, will be disclosed in the additional information section. Small
companies will be exempt
