Legal & Tax alerts

  • Transfer pricing- new regulations

    Starting from 1 January 2017 the provisions related to transfer pricing shall significantly change. As they involve new obligations for the tax payers, it is worth starting preparation to the new obligation of providing the required information and new standards of drawing up tax documentation. Changes to be implemented soon have been described below:
  • Further Changes to Income Tax 2017

    On September 22 2016, the President signed an act amending the act of personal income tax and the act of corporate income tax. The act introduces many significant changes to both income tax laws. The changes, on the one hand, mean certain facilities for small businesses paying corporate income tax in the form of introduction of a 15% tax rate, on the other hand providing new instruments for tax authorities aiming to tighten the tax system in the area of income tax.
  • Redemption of shares not always neutral in tax terms for the company

    Within the restructuring process, the companies often use the institution of redemption of shares. Through such action, the companies annihilate the entirety or a part of shares held by their shareholders and thus change the shareholding structure of the company. Consequently, the shareholder loses the previous status held in the company as well as the privileges connected therewith.
  • P.S.A. - a new type of company as an alternative solution for start-ups

    The Ministry of Development is currently working on a draft of an act amending the Commercial Companies Code to implement a brand-new type of a limited company – so-called simplified joint-stock company (hereinafter referred to as the “P.S.A.” [Pol. prosta spółka akcyjna]).
  • Pre-packaged insolvency in bankruptcy law, the so-called pre-pack

    The new restructuring law and the amendment of the Insolvency law, which entered into force on 1 January 2016 resulted in incorporation of a new institution to these provisions – pre-packaged insolvency. It is a solution modelled upon the so-called pre-packs, used i.a. in Great Britain or the USA.
  • Anti-Tax Avoidance Clause

    On June 7, The President signed the act of May 13 2016 of the amendment to the act of Tax Law and certain other acts. The act will equip tax authorities with additional tools to combat tax payers avoiding taxes.