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Sejm passed another Deregulation Act


2011-08-22



On 19 August, the Sejm passed the Act on reduction of certain obligations of citizens and entrepreneurs, which was prepared by the Ministry of Economy. Deputy Prime Minister and economy minister Waldemar Pawlak said that the incentives introduced by the Act would help achieve savings of around PLN 3bn (€720m) annually.

Among other things, the new law abolishes the costly requirement for companies to publish their financial reports in Monitor Polski B; reduces the frequency with which companies must inform their employees in writing about the payment of mandatory health and social insurance contributions from once a month to once a year (unless the employee wants to be informed more frequently); reduces the statute of limitations on unpaid social insurance and farmers’ insurance contributions from 10 years to five years; extends the deadline for employees to take their unused paid leave by four months, to 31 July of the following year; eases some health and safety requirements accompanying the construction or adaptation of buildings; extends the deadline for the submission of real-property tax declarations from 15 January until 31 January; gives taxpayers the power to request general tax interpretations from the Finance Ministry; and shortens the period for the required storage of past social insurance declarations and notices from 10 to five years.

The Act, which will mostly come into force on 1 January 2012 and its remaining provisions will become effective a year later, represents the second package of legal changes designed to cut red tape and ease the administrative burden on business adopted recently (the first such package took effect on 1 July and, for instance, enables entrepreneurs to make representations instead of submitting certificates, excerpts and abstracts).

According to the latest survey conducted by the Organisation for Economic Co-operation and Development (OECD), amongst the 24 members of the Organisation participating in this study, Poland has the greatest capacity in scope of economy deregulation. The OECD estimated that mitigation of regulations only in the most important sectors of the Polish economy would increase its performance (and thus GDP) by 14% in ten years.



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