Did you buy a
company in Poland? Don’t forget about obligation to keep accounts and submit financial
statements to a Registration Authority. Our law office helps to establish a
company and to conduct current business as well as providing accounting
services, business, tax and financial consultancy (credits, leasing, banking
services), virtual office and other. We also assist in the event Court of Registry or other public institution should initiate enforcement proceedings in
absence of the above named reporting.
In accordance
with the provisions of The Polish Accounting Act, a company manager (a board) should
submit the annual accounts, the audit report, if such a report had to be
provided, a copy of resolution or provisions of the approval authority on
approval of annual accounts and distribution of profit or loss covering, as
well as - in certain cases set forth in the Act - a Report on Activities, to
the relevant court register, within 15 days from the approval of annual
accounts.
The
Accounting Act provides for criminal liability for failure to conduct financial
reporting. Therefore, an entity which, in violation of the law: 1) does not have
its financial statements audited by statutory auditor, 2) does not provide or provides
inaccurate data, explanations or statements to the auditor, or obstructs the auditor in discharge of his
duties, 3) does not submit financial statements for the release, 4) does not submit
financial statements, consolidated financial statements, reports on activities,
financial group reports, report on payments to public administration, consolidated
report on payments to public administration to the relevant court register - shall
be subject to a fine or the penalty of imprisonment..
In turn, the
Act on the National Court Register states that submission of documents referred
to in the Accounting Act may be carried out using electronic system, made available for that
purpose by the Minister of Justice. The application should be provided with qualified
digital signature or trusted signature.
.
To use
"Free submission of financial documents" functionality, one should
have an account established in the system. User is entitled to log on the system if he has an account established at eKRS-site, in
"S-24 – establishing of company, other applications" system. For
accounts created before 15 March 2018, one have to authorize the account
"signing" it with a qualified signature or by a signature confirmed by
ePUAP trusted profile (ePUAP is an abbreviation for Electronic Platform of Public
Administration Services) in order to use all the functionalities of the system.
Account authorization is a one-off operation.
The National
Court Register Act stipulates that if it is found that the application for
registration or the documents which are to be submitted obligatory, have not
been submitted despite the deadlineexpiry , the registration court calls the
obliged entity for submission and sets additional 7-day term. The Court makes such calls under the pain of applying the penalties
provided by provisions of the Civil Procedure Code related to enforcement of
non-financial claims. In the event of failure to comply with obligations within
the deadline, the registration court shall impose a fine on the obliged entity.
The registration court may impose a fine repeatedly. In a single order, the Court
cannot impose a fine higher than one thousand PLN, unless the three-time
penalties have proved ineffective. The total amount of penalties for the same trespass
cannot exceed one hundred thousand PLN.
In the event the debtor performed his duties or in event the proceedings were terminated
the fines not paid until then, are forfeited.
