The most popular form of business is the sole code phone number philippines proprietorship, chosen for its simple, quick and also free registration. No share capital is required to set up a company, the entrepreneur is entitled to many tax breaks and subsidies, and up to a certain turnover limit he is also exempt from keeping full accounting records. This form is ideal for small businesses with only one owner. In addition to the sole proprietorship, Polish law provides for the possibility of managing a company within a general partnership:
In the next step, the entrepreneur is required to indicate the form of taxation of his company. His choice must depend on the type of company, the amount of expected income and the desire to benefit from tax breaks or to settle with a spouse. The taxpayer can choose between four forms of taxation:
Tax scale (general rules) - tax of 17% or 32% is calculated on the basis of income, i.e. income minus incurred costs. A form recommended for entrepreneurs with considerable company expenses that do not exceed the second threshold.
Flat tax - fixed tax rate of 19%, calculated on revenue. Recommended for companies with higher revenues.
Tax card - the simplest form of taxation, in which the tax rate is set monthly and in a fixed amount by the Head of the Tax Agency.
Flat-rate tax on recorded income: the tax rate depends on the type of activity and the tax base is only the income, without costs. This method works well for companies that do not generate many costs.