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Social Insurance Institution (ZUS) Owes Billions of PLN

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Millions of entrepreneurs in Poland pay obligatory social insurance contribution to ZUS, or Social Insurance Institution, an authority that collects and manages funds that are used to finance healthcare, pensions and a range of social benefits. Billion of zlotys are deposited in the accounts of the authority every month. However, it is not always the taxpayer that owes money to ZUS. Surprisingly, it might be the other way round. Not long ago, Social Insurance Institution sent out letters to tax Read more

Polish Airspace Closed for Boeing 737 Max 8

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Polish authorities decided to close the Polish airspace to all Boeing 737 Max 8 aircraft, following the plane crash of Ethiopian Airlines that took place on 10 March in which 157 people died, including two Poles. Following the tragic event, EU Aviation Safety Agency issued a statement saying they suspend all flight operations of all Boeing 737-8 MAX and 737-9 MAX aeroplanes in Europe, as a precautionary measure. The list of countries that decided to close their skies for Boeing already includes Read more

The Aftermath of the Meat Scandal

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It has been announced that Poland will be requested to present a report on its safety regulations in the meat scandal for industry to the European Commission. The hearing will take place on the 18th of March, during a meeting of Agriculture Ministers from all EU member states. The Commission decided to summon Poland to provide explanations following the scandal that swept across European media several weeks ago, when Polish journalists revealed that a slaughterhouse in Poland was proc Read more

Polish Government Getting Ready for Brexit

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Although some years ago many still thought Brexit would never become a reality, British good-byes to the European Union are approaching fast. The Brits are going to leave the EU at the end of March 2019, but few things are known for certain. It is slowly becoming apparent that we need to prepare for a hard Brexit. Polish government convened a special meeting in which the ministers discussed post-Brexit world and the challenges that Polish businesses and economy will face after March 30thRead more

Ministry Presents Capital Market Development Strategy

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What are the main difficulties hindering the development of capital market in Poland? How to overcome these obstacles and make investors’ lives easier and market activity more robust? These are the questions that lawmakers asked when creating Capital Market Development Strategy. The document, the draft of which has been recently presented by the Minister of Finance Teresa Czerwińska, is to help shape the future of capital markets in Poland. The Strategy is based on four pillars: building tru Read more

Polish Bank Association Warns Against Destabilising the Bank Sector

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Polish Bank Association issued an open letter in which the members warn against the President’s bill which aim is to help Polish mortgagors. Bankers say that if the bill is passed, the move may have dire consequences to the entire banking sector in Poland. The bill in question concerns thousands of mortgage payers who hold CHF-denominated loans and experience negative effects of Swiss franc price fluctuations. The provisions were prepared by experts from the President’s Office and offer ass Read more
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