President Andrzej Duda has signed the Law on Supporting Investments, reads a statement issued by the President’s Chancellery. The main objective of the Law is to encourage entrepreneurs to invest all over the country, including less developed regions which fail to meet the requirements of major investors.
The law stipulates rewards for investments in small- and medium-sized cities losing economic or social functions. The conditions for support will be based on various factors including the unemployment rate in the given county, while the support amount will be conditional on company size. The new law would replace the tax exemption system used in the 14 special economic zones. Preferential tax treatment will depend on the place, nature of investment and quality of jobs created. The new regulations will provide tax exemptions to investors effective over a period of 10-15 years in any place in the country.