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Computer virus shakes up European enterprises

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A massive hacker attack disrupted Europe, threating entrepreneurs all across the continent and causing trouble for many businesses. A ransomware Petya virus spread through IT networks like wildfire, freezing computers and demanding a 300-bitcoin payment from those wishing to regain access to their files. The attack started in Ukraine and that was the country where it caused most damage. Some Polish enterprises also fell victim to the malicious software.   The virus attacked Ukrainian bank Read more

Changes at the Warsaw Stock Exchange

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The Warsaw Stock Exchange has recently got a new management board and supervisory board. During corridor talks, people discussed who would be the president of the state company. Jarosław Grzywiński, a lawyer delegated by the supervisory board to temporarily manage the company, expressed hopes to keep the position. A moment later Marek Dietl, a doctor of economics from Krakow announced his candidacy, and it is he who on 16 June was appointed by the general shareholders’ meeting of WSE to serv Read more

Companies will have to disclose information on their income

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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

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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

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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

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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
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