Tax deductions – maximize savings for your business
Uncertain about how to leverage Poland’s tax system to your advantage, especially in terms of possible tax deductions?, As SWGK, we can help you interpret complex tax regulations and identify opportunities for significant tax savings. By optimizing your tax strategy, you can reduce your tax liability, improve your bottom line, and drive business growth.
Polish entrepreneurs have access to a wide range of tax breaks that can significantly reduce their tax burden. Let's take a closer look at some of them:
- R&D (Research and Development) Tax Credit: This tax incentive supports companies investing in research and development by allowing a tax deduction for additional eligible costs incurred for R&D activities, such as salaries of employees involved in projects, costs of raw materials and supplies, and costs related to the use of scientific equipment. This is an important support for companies investing in innovation.
- IP Box Tax Credit: This tax credit was created to support innovation and technological development of companies. It allows a reduction in the tax rate to just 5% for income earned from intellectual property rights, such as patents, copyrights and trademarks. This is a significant incentive for companies investing in research and development of new technologies, products or services.
- Prototype Tax Credit: This tax credit encourages innovation by providing a financial incentive to entrepreneurs who invest in the development of new products. By allowing deductions for costs associated with designing, manufacturing, and testing prototypes, this credit can significantly reduce the financial burden of bringing new products to market.
- CSR (Corporate Social Responsibility) Tax Credit: This tax incentive encourages corporate social responsibility by allowing companies to deduct expenses related to environmental protection, community support, education, and cultural initiatives. By supporting these activities, businesses can build a positive corporate image by promoting responsible business attitudes, and strengthening community ties.
- Allowance for innovative employees: Aimed to encourage companies to hire employees engaged in research and development activities. Companies can take advantage of this credit by deducting from their taxes a portion of the costs associated with salaries and other benefits for innovative employees, such as engineers, designers or scientists. This is an incentive to invest in human capital and develop the company’s internal research resources.
- Expansion Tax Credit: Designed to support companies in their expansion into new markets by allowing tax deductions for costs related to brand promotion, product or service marketing, even in foreign markets. This can include the cost of participation in international trade fairs, advertising campaigns costs or other expenses related to international marketing. This tax credit empowers businesses to expand into new markets more effectively and boost their revenue.
Why use professional tax advice
Effective use of tax deductions provided by law requires adequate knowledge and experience. Professional support from SWGK experts allows for effective use of tax credits and allows entrepreneurs to maximize tax savings by identifying all credits and deductions to which they are entitled. Our services also include proper documentation and reporting of tax credits, minimizing the risk of errors and potential legal implications. Our consulting services allow you to focus on the core areas of your business and reduce the time and resources spent on managing tax issues yourself.
We tailor our services to the specifics of your business to effectively identify and take advantage of your company's tax benefits.
We tailor our services to the specifics of your business to effectively identify and take advantage of your company's tax benefits.
Our tax relief services
We offer comprehensive support in identifying, calculating, and claiming tax credits. Our services include preparing the necessary documentation and ensuring that all deductions are properly reported.
We also offer a range of educational resources to to enhance your understanding of tax credits. By empowering your business with knowledge, we enable you to make informed decisions as well as address your current tax needs.
Contact us today to unlock the full potential of Poland’s tax incentives, and elevate your business with expert tax advice.