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POLISH INFORMATION AND FOREIGN INVESTMENT AGENCY Special Economic Zones in Poland Monika Zdrojek Head POLISH INFORMATION AND FOREIGN INVESTMENT AGENCY Special Economic Zones in Poland Monika Zdrojek Head of Regional Cooperation Division Regional Development Department Gyumri 16 of November 2012

Forms of regional aid in Poland TAX EXEMPTIONS § CIT exemption in Special Economic Forms of regional aid in Poland TAX EXEMPTIONS § CIT exemption in Special Economic Zone § Real estate tax exemption CASH GRANTS § Government grants § Cash grants available through EU funds All above presented instruments can be combined together (with some exceptions) however the total amount of regional aid cannot exceed the maximum aid ceiling

Maximum intensity of regional state aid § 40% 50% investment costs or 2 years Maximum intensity of regional state aid § 40% 50% investment costs or 2 years wage costs 50% 40% 50% 30% 40% value of the aid is expressed as a percentage of eligible costs (whichever is higher): § The intensity rise for small and medium enterprises for 20 and 10 pp respectively § The maximum level of the aid for large investment projects is reduced 50% 40% 50% 50% Map of maximum intensity of regional state aid in Poland for years 2007 -2013

Special Economic Zones Definition • a special economic zone (SEZ) is a designated area Special Economic Zones Definition • a special economic zone (SEZ) is a designated area in which manufacturing or distribution activities can be conducted on preferential terms • 14 SEZ in Poland, with several subzones The purpose • support regional development Total area • up to 20 000 hectares Time of operation • 31 st December 2020 Permits to conduct activities in SEZ • issued by the authorities of each SEZ Benefits from obtaining a permit to conduct activities in SEZ : • • • eligibility for income tax exemption plot of land prepared for an investment project free assistance in dealing with formalities relating to the investment project

Excluded activities § § § § § manufacture of explosive materials, tobacco products, processing Excluded activities § § § § § manufacture of explosive materials, tobacco products, processing motor fuel as well as production, bottling and processing alcoholic beverages and spirits aimed at the production other than bio components operation of gambling centers, services connected to sewage disposal and wastewater treatment (section E, column 37 PKWi. U*), services related to collection, treatment and disposal of waste, recovery of recyclables (section E, column 38 PKWi. U), with exemption of: ü recyclable non-hazardous waste (38. 11. 5 PKWi. U), ü hazardous waste (38. 12. 22. 0, 38. 12. 24. 0, 38. 12. 25. 0 and 38. 12. 27 PKWi. U), ü waste organic solvents (38. 21. 3 PKWi. U), ü recovery of raw materials (described in 38. 3 PKWi. U) other services connected to waste management (section E, column 39 PKWi. U) construction works (section F PKWi. U), services in the scope of wholesale and retail trade, repair of motor vehicles, hotel and restaurant services (section G and I PKWi. U), services in the scope of information and communication (section J PKWi. U), connected with movies production, video recording, TV shows, music recordings, TV broadcasting, financial intermediation services and services related to real estate (section K and L PKWi. U), *PKWi. U – Polish Classification of Goods and Services

Excluded activities § § § § services described in section M of PKWi. U, Excluded activities § § § § services described in section M of PKWi. U, with exemption of: ü financial audits services ü accounting and book-keeping ü research and technical analysis ü R&D ü call centres services ü repair and maintance of computers and peripherals public administration services, social insurance and education, health protection and social care, cultural, entertainment, sports services (section O-R PKWi. U), business activity which requires concession for production, transport and trade of fuels and energy according to art. 32. 1 of Energy Law production of agricultural products listed in Annex I of the Treaty fishery and aquaculture iron and steel metallurgy coal sector *PKWi. U – Polish Classification of Goods and Services

Conditions § investment of minimum of EUR 100 000 § maintenance of the new Conditions § investment of minimum of EUR 100 000 § maintenance of the new investment in the region concerned for a minimum period of at least 5 years after its completion (or 3 years – SME) § maintenance of the assets for which the investment costs were incurred for a minimum period of at least 5 years after they were put into the fixed assets evidence (or 3 years – SME) This rule does not prevent the replacement of plant or equipment which has become out-dated within this 5 year period due to rapid technological change § maintenance of the new work places for at least 5 years (3 years – SME) starting from the date the post was first filled

Eligible costs Investment costs or • of ownership/ perpetual usufruct of land • of Eligible costs Investment costs or • of ownership/ perpetual usufruct of land • of material assets (e. g. machinery)- in case of other than MSE it must be new • of intangible assets by the transfer of technology through the acquisition of patent rights, licenses, know-how or unpatented technical knowledge (for large companies eligible only up to a limit of 50 % of the total eligible investment expenditure for the project) • of rent of land buildings (must continue for at least 5 years or 3 years – SME, after completion of the project) • of rent of assets other than land building - only in the form of financial leasing with obligation to buy an asset after its term of lease Wage costs • wage costs of a newly employed person calculated over a period of 2 years (comprising of the gross wage, before tax, and the compulsory social security contributions) • new job places should be created within 3 years after completion of the project • job creation means a net increase in the number of employees directly employed compared with the average over the previous 12 months

Entering SEZ – four basic steps Selecting location Obtaining SEZ permit Source: KPMG, Special Entering SEZ – four basic steps Selecting location Obtaining SEZ permit Source: KPMG, Special Economic Zones, 2011. Implementing investment Generate income and use tax exemption

Procedure 1 month Action 1 w 2 w 3 w 2 month 4 w Procedure 1 month Action 1 w 2 w 3 w 2 month 4 w 5 w 6 w 7 w 8 w Investor's preliminary declaration Location offer within the sub-zone Discussion with utilities suppliers Preparation of offer with necessary documents Tender announcement (national and local press) – 21 days for submission of an offer Purchase of Specification of essential terms of the tender; Offer submission Tender or negotiations Permission to run business activity within the zone Investor SEZ When applying for the permit and land purchase a joint tender is conducted by management authority of SEZ

Example Assumptions: • • • EUR 40 M of eligible costs regional intensity : Example Assumptions: • • • EUR 40 M of eligible costs regional intensity : 50% maximum amount of regional aid: EUR 40 M x 50% = EUR 20 M Year Income (EUR M) CIT: 19% (EUR M) CIT payment 2011 0 0 0 2012 8 1, 52 0 2013 12 2, 28 0 2014 17 3, 23 0 2015 25 4, 75 0 2016 50 9, 5 1, 28 21, 28 In 2016 the Investor exceeds regional aid by EUR 1, 28 M, that’s why he is obliged to pay the CIT tax

Results of SEZ § PLN 79, 6 bn of the investment expenditures (as of Results of SEZ § PLN 79, 6 bn of the investment expenditures (as of end of December 2011) § 82% of the investment expenditures were incurred by foreign companies § 244 630 of new jobs have been created in SEZ (as of end of December 2011) § Every work place in the SEZ generates 0, 75 of work place outside of the SEZ § SEZ are located in 135 cities and 192 communes on total area of 14 100 ha (of which 21, 9 % - private land), (as of end of 2010) Source: Ministry of Economy, Office of Competition and Consumer Protection.

Thank you very much for your attention 00 -585 Warszawa, ul. Bagatela 12 tel. Thank you very much for your attention 00 -585 Warszawa, ul. Bagatela 12 tel. (+48 22) 334 98 12, fax (+48 22) 334 98 86 e-mail: monika. [email protected] gov. pl