Business News Poland

News

Companies will have to disclose information on their income

Posted on by admin
The government plans to introduce new regulations imposing additional reporting obligation on Polish companies. The upcoming amendments are connected with the provisions of corporate income tax and most probably will affect, at least initially, the biggest Polish companies (in terms of accrued revenue) as well as capital groups. Officials point to the examples of Denmark and Sweden as inspiration for the new law, as well as OECD guidelines for international companies. Lawmakers want the biggest Read more

Protest of taxi drivers in several biggest Polish cities

Posted on by admin
Taxi drivers blocked traffic in several biggest cities to persuade the government to take actions that would hinder illegal carriers. As Jarosław Iglikowski, the president of Warsaw Taxi Driver union explains, the state is protecting criminals instead of honest entrepreneurs. Vehicles driven by taxi drivers went to the streets at 7:30 a.m. and ended their protest at 1:00 p.m. At the end of the drive, the major institutions and ministries were to receive their petitions.   One of the cont Read more

Verification of VAT refund validity from 1 January 2017

Posted on by admin
A taxpayer submitting VAT tax return in which they report an overpayment of input tax over output tax to be refunded to a bank account has to be aware the tax authority may verify whether there are legitimate grounds for the reported refund.   Verification of the validity of refund claims from 1 January 2017 was regulated in detail in the VAT Act.   Pursuant to Article 87 of the VAT Act, second sentence, if validity of a refund requires additional verification, the head of tax offi Read more

Mobile operator announces plans for IPO

Posted on by admin
Play Communications S.A., the owner of Play, one of the biggest mobile network operator brands in Poland, announced its intention to go for an IPO. This is going to be the biggest debut Warsaw Stock Exchange has ever seen. The company is planning to apply for listing on the main market of WSE.   From the moment of its launch, Play has been steadily increasing its market share, gradually becoming the second-biggest mobile network operator in Poland in terms of subscribers. Over a quarter o Read more

Government to impose excise duty on e-cigarettes

Posted on by admin
It appears that Polish government is soon going to reach deeper into its citizens’ pockets. Government Legislation Centre has recently published information that lawmakers plan to work on changes to the Excise Tax Act. The government intends to broaden the group of goods on which the levy is imposed. Experts’ predictions suggest the move may bring 100 million PLN a year to the state budget.   The products the excise tax is to be imposed on are the so-called electronic cigarettes (or, Read more
Read more

Consulting services