The Polish Code of Commercial Companies (“CCC”) does not provide for regulations about holding management board meetings by way of using means of direct distance communication
A Survival Guide for Entrepreneurs in 7 simple steps prepared by the COVID 19 Team at Ożóg Tomczykowski Events of force majeure, namely those that are outside the parties’ control and impossible to anticipate, such as the COVID 19 virus epidemic, have a negative impact on the economic condition of many entrepreneurs.
The government announces the scope of support within the “Anti-Crisis Shield” The economic crisis is estimated to be stronger than the economic recession in the years 2008-2009. The government plans to allocate PLN 220 billion to combat the epidemic consequences. The planned support is divided into 5 pillars:
Please see below a message to our Clients, friends, and business partners in connection with the development of the epidemic situation in Poland and across the world.
The Ministry of Development is intensively working on changes for entrepreneurs in the face of epidemic crisis.
The OECD has recently published (February 2020) the much-awaited report “Transfer Pricing Guidance on Financial Transactions”. For the first time the OECD guidance describes matters applicable to the transfer pricing aspects of financial transactions. The information contained in the new guidance covers the application of the arm’s length principle to financial transactions between related parties, as well as practical issues connected with valuation of transactions such as loans, cash pooling,
On 20 January 2020 a session of the Supreme Administrative Court composed of 7 judges was held to evaluate the nature of the Polish Classification of Products and Services (PKWiU) in proceedings for issuing tax rulings. The Court decided to refuse to adopt a resolution on that matter (file ref. no. I FPS 3/19).
New reporting obligations for listed companies were introduced under the Act on Amending the Act on Public Offerings and Conditions for Introducing Financial Instruments to an Organised Trading System and on Public Companies dated 16 October 2019 and Certain other Acts. The Act has been in effect since 30 November 2019. The regulations in questions are the outcome of the implementation of Directive (EU) 2017/828 of the European Parliament and of the Council of 17 May 2017.
Today a meeting of the Entrepreneurship Council at the Polish President’s Office is being held in the Presidential Palace, focusing primarily on efficient succession in Polish family businesses. The main aspect to be addressed will be the concept of introducing into the Polish legal system a family foundation institution, which is well-known and widely used in other European jurisdictions.
Over the past six months Ożóg Tomczykowski Law Firm has advised the owners of the company Rowiński Wajdemajer spółka z o.o. being one of the largest Warsaw dealerships of Volkswagen and Audi cars, on the sale of 100% shares in the company to the industry investor being the partnership Auto Handel Centrum Cichy Grupa Cichy sp. j., with its registered office in Wysogotowo.
As reported by the Ministry of Development, the Sejm Justice Committee supported the MPs’ amendments to the government's Bill Amending the Code of Civil Procedure and Some Other Acts (Sejm prints nos. 45 and 45A). One of the consequences thereof will be postponing by one year - until 1 March 2021 - the entry into force of the provisions regarding the Simple Joint-Stock Company. This is due to the deferred introduction of electronic registration process. The amendments were not prepared by the Mi
The year end is a busy time for taxpayers making settlements with business partners. For transactions carried out with related parties, new principles of transfer pricing adjustments should be in place for transactions entered into after 1 January 2019.
On 17 December during the 7th Meeting of the Council of Entrepreneurs, the Ombudsman for Small and Medium-Sized Enterprises handed the Business Constitution out to the directors of local branches of the Social Security Office (ZUS). We are thrilled that Dr Radosław Bulejak, Chairman of the Tax Team, takes part in such important discussions and actively supports entrepreneurs.
The closing of 2019 is approaching. Following numerous questions, we have summed up the most important deadlines for performing obligations to provide documents and reports by entities transacting with related parties.
Paweł Tomczykowski, Managing Partner of Ożóg Tomczykowski Law Firm won the third edition of the "Entrepreneur of the Year of Warsaw University" competition, in the "Master of Business" category. The competition is intended for graduates of the University of Warsaw, who create innovations, establish and develop new enterprises and act for the benefit of the economy and society. The evening gala took place in the building of the Old Library of the University of Warsaw.