We would like to remind you that as of 12 October 2022, the so-called holding law is in force in Poland, which introduced i. a. the possibility to exclude the responsibility of the management board for decisions taken in the interest of the entire capital group and the possibility to repurchase minority stakes/shares of a subsidiary. These are important issues from the point of view of subsidiary boards in particular, as it introduces into the Polish legal order solutions which formalise the actual functioning of capital groups.
On 28 May 2022 Member States of the European Union were required to adopt and start applying legislation implementing Directive (EU) 2019/2161 of the European Parliament and of the Council of 27 November 2019 amending Council Directive 93/13/EEC and Directives 98/6/EC, 2005/29/EC and 2011/83/EU of the European Parliament and of the Council with regard to better enforcement and modernisation of EU consumer protection legislation (hereinafter: the Omnibus Directive), which introduced changes to consumer protection law. Althoughthe draft law implementing the Omnibus Directive is only being proceeded by the Polish Sejm, we already invite you to familiarise yourself with the main changes today.
Binding Tariff Information (WIT) is an official decision on the tariff classification of goods located within the European Union, which determines not only the correct tariff code, but also the amount of duty and any other customs charges. Obtaining a WIT decision provides taxpayers with a guarantee that the correct Combined Nomenclature (CN) or TARIC tariff code has been applied, that customs duties have been correctly declared or that the time required for customs clearance has been shortened, so it is worth obtaining it in order to protect yourself from the negative consequences of using the wrong tariff code and to facilitate the procedures for declaring goods. How to do it?
By December 2021, there was a lot of talk in the media about the imminent, passing and finally missed deadline for the Polish whistleblower protection law. In this post I will not analyse the next version of the Act, we did that together with Aleksandra Philips in the post “The final version of the whistleblower protection law getting closer?“. Instead of analising it, I will be happy to share my experience and thoughts from the implementation of the whistleblower protection system we carried out.
Although the protection of whistleblowers in particular has so far been discussed mainly in autumn 2021, this does not mean that the lack of implementation of Directive 2019/1937 of the European Parliament and of the Council of 23 October 2019 has completely buried the topic. On the contrary. The holiday period favours the Legislature in drafting more whistleblower protection legislation. Recently, the fourth version has already appeared on the website of the Government Legislation Centre. It is worth keeping your hand on the pulse, as it is still unclear when the actual law will enter into force and activate obligations on the part of companies, as well as what its final form will be.
On 12 October 2022, the so-called holding company law will come into force in Poland. We invite you to familiarise yourself today with selected changes to the Code of Commercial Companies (hereinafter: the Act) brought by the new legislation.
Tax changes resulting from the Polish New Deal came into force on 1 January 2022. The tax revolution will affect almost everyone. One of the groups that will feel the effects of the Polish New Deal are people who perform functions on the basis of an appointment act and receive remuneration on this account. The changes will primarily affect members of management boards and proxies, members of audit committees, among others in companies and associations. What changes are to be expected?
The Polish Order is one of the major changes to the tax system in Poland, which has finally been voted. In the face of the coming revolution, taxpayers are particularly disadvantaged by the short time available to them, as the planned changes will come into effect as early as 1 January 2022.
Due to the end of 2021, we encourage you to consider whether you are entitled to any claims with the limitation period expiring at the end of the year. In cases where the limitation period will expire on December 31, 2021, we recommend that you take actions to stop the limitation period as soon as possible. Especially taking into account the fact that failure to act in relation to these claims will make their pursuit after the above-mentioned period ineffective. After the expiry of the limitation period, the debtor may refrain from satisfying the claim.
The Director of the National Tax Information (KIS), in an individual interpretation issued on 26 June 2021, confirmed the position of a taxpayer regarding the possibility to treat as tax deductible expense the expenses incurred for remuneration of CEO of a company and, at the same time, its shareholder, under a contract for work concluded with him.