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Poland: Almost 42% more entities disappeared on year in Q1 

Analysis

According to the data of Poland's Ministry of Development and Technology, in the first quarter of this year, over 63,100 entries submitted applications for closing a business to the Central Register and Information on Business (CEIDG), wrote the Warsaw Business Journal.

This is almost 42% more than in the corresponding period of 2021, when there were about 44,600 such cases.

"These data are very disturbing. Such a high increase in applications for the closure of sole proprietorships was due to the fact that entrepreneurs did not bear the new fiscal burdens introduced under the Polish Deal. The conditions for running a business were made difficult by the severe economic situation that has been dragging on from the beginning of the pandemic. In addition, it is time to return the money received from the anti-crisis shields. It is also possible that some companies have changed their form of business looking for tax optimization," Łukasz Goszczyński, legal advisor and restructuring advisor, said.

In addition, the data provided by the ministry show that within three months of this year almost 89,500 entries were entered into the CEIDG with requests for suspension of operations. This is 46% more than in the corresponding period of 2021, when approximately 61,500 such cases were recorded. 

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