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Unequal treatment of shareholders may be allowed

According to law, the possibility of selling registered shares may be made dependant on company's approval. This requirement should be precisely provided for in the company's articles of association. But does such a restriction always have to apply to all shareholders?

This topic is elaborated on in today's Economic Law Academy of Dziennik Gazeta Prawna by Marcin Borkowski, Ph.D.

A scan of the article is available for download below the text.

 

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Limited partnerships try to find ways to avoid double taxation

A change in taxation of limited partnerships is rather certain. Only the date of entry into force of the new regulations is a question mark. Business entities are hastily looking for ways to avoid negative effects of the amendment and being required to tax their incomes twice. A change in the proportion of profit distribution or transformation of the partnership may be the solution.

Risky double taxation of the partnership’s profit – COMMENTARY by Mateusz Pietranek

Transformation of a limited partnership into a limited liability company and application of the new planned mechanism, i.e. the Estonian CIT, involves tax risk. The expert points out that in this context, the amendment to the act stipulates that in a situation where the transformation takes place and the first tax year of the company created as a result of the transformation is also the first year of applying the Estonian CIT, the company is obliged to determine and tax the income from the transformation equal to the surplus the market value of its assets, determined as at the transformation date, above the tax value thereof determined as at that date. It seems that abandonment of this regulation by the legislator would be an additional incentive for taxpayers to apply the Estonian CIT. 

The article is available on Prawo.pl:
https://www.prawo.pl/podatki/sposoby-na-zmiane-zasad-opodatkowania-spolek-komandytowych,504644.html

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Poland comes third from the end in the international ranking of the competitiveness of tax systems

Poland is on the 34th place out of 36 in the international ranking of the competitiveness of the tax systems of OECD countries. This is a sad and quite obvious assessment of Polish tax regulations and mechanisms. Issues pointed out to Poland included, inter alia, the above-average number of hours that a businessperson needs to spend on settling VAT and excessively restrictive regulations providing for compensation of losses.

We invite you to read the analysis by Radosław Chudy on Prawo.pl:
https://www.prawo.pl/podatki/rankingi-konkurencyjnosci-systemow-podatkowych-2020-tax-fundation,504610.html

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Basic procedure in the new PPL – contracts below EU thresholds – part 2

The new public procurement law provides for carrying out negotiations with contractors in, inter alia, the basic procedure comprising two variants: optional and obligatory. In an article published on Lexplorers, Marta Lipińska, attorney-at-law, points out to differences between negotiations in carried out according to respective procedures.

Link to the article: http://lexplorers.pl/tryb-podstawowy-w-nowym-pzp-zamowienia-ponizej-progow-unijnych-czesc-2/

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A partner should have the current value of his share returned

Legal regulations enable a partner to withdraw from a general partnership. In such a case, the partnership should return the value of such partner's capital share to him. However, how to determine this value, if it has changed throughout the partnership's activity?

This issue is elaborated on in today's issue of Dziennik Gazeta Prawna, in an article written by Marcin Borkowski, Ph.D.

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Recruitment to the Private Client advisory team

We are looking for a lawyer to the Private Client advisory team, experienced in providing tax advice. 

Duties:

  • providing regular advice, mainly in the area of income taxes, in particular for private clients
  • preparing legal opinions and analyzes in the field of asset protection, inheritance law and succession
  • direct contact and cooperation with clients

We offer:

  • stable employment in a company existing on the market for nearly 25 years
  • an opportunity of professional development through participation in projects implemented for Polish and international clients
  • attractive financial conditions, depending on experience and skills
  • incentive programs

The team operates in the field of the following practices:

 

We are recruiting through Pracuj.pl. We encourage you to submit your applications.

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Formal errors not always make resolutions invalid

In certain circumstances, the registry court may authorize company shareholders to convene a meeting. The court then appoints a chairperson of such meeting. What conditions must be met to ensure validity of resolutions adopted at such a meeting of shareholders?

This question is answered by Marcin Borkowski, Ph.D, in Tuesday's edition of the Economic Law Academy of Dziennik Gazeta Prawna. The whole article can be downloaded below.

 

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INFOR 2020 Accounting Forum

Many new tax solutions have been introduced this year, such as the new JPK_VAT file and elimination of VAT returns, a VAT white list, or rules for settling bad debt relief in CIT returns. During this year's Accounting Forum organized by Dziennik Gazeta Prawna, our experts: Ines Borkowska and Angelia Dahms will discuss rules for granting benefits and issues related to settlements regarding co-financing for companies in the fight against the effects of COVID.

Detailed issues that will be discussed by GWW specialists and the whole agenda are available here: https://s3-eu-west-1.amazonaws.com/landingi-editor-uploads/uxOEHJ1J/Broszura_forum_ksiegowoaci_20201020.pdf 

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Distinction in the World Tax 2021 ranking for Małgorzata Militz

Małgorzata Militz, tax advisor and partner managing the VAT proceedings team at GWW, was included in the World Tax ranking, in which the best tax advisors in Poland are recommended, for another year in a row. Małgorzata’s name appeared in the category of indirect taxes and women dealing with taxes, receiving the following distinctions:

  • Indirect Tax and
  • Woman in Tax

The annual World Tax ranking distinguishes significant and recognizable specialists providing tax adviser’s services. More information on how the ranking is compiled, the ranking itself, and the distinguished specialists can be found on the World Tax website: https://www.itrworldtax.com/ 

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Counterparties’ numbers in JPK_V7 files

Already on 25 November, we will submit new JPK VAT files to the tax authorities for the first time. The risk of reporting errors is increasing, just as the risk of penalties.  

A counterparty’s number is one of the two most important pieces of information that we report in the JPK_VAT file. It is the errors in the counterparty’s number in combination with the “country code” box that may be the main reason for imposing a fine of PLN 500 per error on taxpayers. Therefore, proper reporting of countarparties’ numbers will be one of the most important issues related to the new JPK_VAT. 

JPK Insight invites you to an online meeting with Krzysztof Czekaj, a tax advisor, during which he will demonstrate how to report counterparties’ numbers and how to ensure that data are correct. 

Rules for entering counterparties’ numbers in JPK_V7 files. 
Date: Tuesday, 10 November 2020, 10.00 am

Registration for the webinar: https://jpk-insight.pl/webinaria-jpk-insight/

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