Polish Accounting: Dispelling Myths for Ukrainian Businesses

Doing Business in Poland: Dispelling Myths and Understanding Accounting Regulations Recently, a video interview with Oleksandr Ruban, a Polish accountant, shed light on essential aspects of Polish accounting and debunked common myths. The interview, conducted in Ukrainian, highlighted the mandatory document retention periods for companies operating in Poland. According to Ruban, "All company documents must be kept for a minimum of five years, and for employment contracts, this period extends to ten years." The interview also addressed concerns about business dealings between Ukrainians and Poles. Ruban clarified that these collaborations are generally straightforward and dispelled the myth that it's inherently problematic. However, he emphasized the importance of meticulous record-keeping to comply with Polish tax regulations. He stated that Polish tax authorities conduct thorough audits, sometimes looking back two to four years, to ensure compliance. Therefore, maintaining accurate and complete records is crucial for any business operating in Poland. The video interview serves as a valuable resource for entrepreneurs and individuals considering or currently engaged in business activities in Poland. It underscores the importance of understanding Polish accounting regulations and maintaining proper documentation to avoid potential legal issues.