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The Warsaw Voice » Business » March 31, 2015
Business & Economy
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Economy Still Needs Reforms
March 31, 2015   
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Poland has become a highly attractive and investor-friendly country in recent years. According to EY’s European Attractiveness Survey 2014, Poland leads the way in Central and Eastern Europe as the most attractive destination for new investment. Investors say that Poland’s advantages include a talented and well-educated labor force, a dynamic economy with a vibrant financial sector, and a business-friendly environment.

However, the conditions of doing business in Poland are still far from perfect. Both foreign investors and Poland’s own entrepreneurs say the country needs to simplify its tax system, increase the innovativeness of enterprises and improve infrastructure. The latest international reports analyzing business conditions are less favorable to Poland than in previous years. The World Bank’s Doing Business 2015 ranks Poland two positions lower than the previous year. Also less favorable to Poland is the World Economic Forum’s Global Competitiveness league table, in which Poland was ranked 43rd, a notch worse than in 2014. All major international standings urge Poland to make its legal and tax regulations far more transparent.

Although the Polish government introduced several changes last year to make life easier for company owners, these efforts were insufficient, according to the 2015 edition of a report on doing business in this country, recently released by Poland’s Association of entrepreneurs and Employers. For example, the authorities introduced regulations to standardize a number of administrative procedures, and they also adopted a law to facilitate access to selected professions. Moreover, lawmakers drafted regulations designed to make it easier to do business. But none of these regulations directly concerned the tax system. Meanwhile, businesses above all expect not so much tax cuts as an across-the-board simplification of the tax system. According to the Association of Entrepreneurs and Employers, the reforms carried out by the government are important but more is needed. The Polish economy is doing pretty well, compared with other European economies, but this is due to businesses rather than the government.
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