Krakchemia files for bankruptcy amid massive VAT tax liabilities

Krakchemia, a chemical trading company listed on the Warsaw Stock Exchange, has filed for bankruptcy following significant financial distress. The company cited a sharp decline in revenue and a loss of trust from contractors as primary drivers for the filing.

Central to the company's collapse are massive tax liabilities stemming from the years 2013–2015. These VAT-related obligations total approximately 76.8 million PLN. The company's revenue has plummeted from 80.2 million PLN in 2023 to just 25 million PLN in 2025, with net losses over the last three years reaching 94 million PLN.

The tax issues originated from disputes regarding intra-community supplies of car parts. Tax authorities alleged that the company engaged in VAT fraud by claiming 0 percent rates for exports to Bulgaria and the Czech Republic, while the goods allegedly never left Poland. The Provincial Administrative Court in Szczecin upheld the tax office's decision, ruling that the company failed to prove the actual export of goods or demonstrate due diligence. Consequently, the company was taxed at the standard 23 percent rate and faced additional sanctions.