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.
Controlling entities being a part of large international capital groups and based in Poland are required to provide the Head of the National Revenue Administration (KAS) with CbC-R (Country-by-Country Reporting) group information reports.
On 5 November the Bohema Hotel in Bydgoszcz saw the first road show held by our Law Firm.
On 28 November at the InterContinental Hotel in Warsaw the Biznes360.pl Congress will be held for managers of large companies. During the meeting we will discuss trends and directions of changes in taxes and the law and will present ready-made solutions based on some interesting case studies.
As previously announced by the Ministry of Finance, on 1 September 2019 an electronic specification of active VAT payers will be published (“white list of VAT payers”), which will be kept by the head of the National Revenue Administration (KAS).
For commercial companies/partnerships (save for public companies) registered on 13 October 2019, the 7-day deadline for reporting the information on their beneficial owners passes on Monday, 21 October 2019.
Shares of companies will no longer be allowed to be traded in paper form, and each shareholder will be subject to the obligation to disclose their shares in the register.