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Remuneration of a Management Board member

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One of the important matters concerning remuneration for a member of a Management Board is verification whether it is necessary to pay social insurance contributions on such remuneration. On default, obligatory social insurance payments apply to a person who has certain title to insurance indicated by the lawmaker. The catalogue of entities subject to the act on social insurance system is closed, it encompasses e.g. the persons employed based on an employment contract or civil law agreements. & Read more

PGNiG Upstream Norway acquires shares in Storklakken

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Acquiring assets on the Norwegian market is a natural investment route for the PGNiG Group. Former PGNiG Upstream International, i.e. PGNiG Upstream Norway, a subsidiary of PGNiG SA, acquired shares in the recently discovered Storklakken oil field. The transaction is to allow for an increase in the extraction of hydrocarbons outside Poland. Piotr Woźniak, the President of PGNiG SA’s Management Board, stresses that he is happy to broaden cooperation with Aker BP, from whom PGNiG Upstream Nowa Read more

Lower ZUS contributions from 2018

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In a recent press conference from the Ministry of Finance, Deputy Prime Minister Mateusz Morawiecki shed some light on government plans regarding changes to legal provisions regarding companies. More specifically, the new government ideas connected with the mandatory social insurance contributions that Polish companies have to pay.   The officials want to free small enterprises from some of the taxation burden. The government recognize the need to change the rules of the game for the entr Read more

V4 meet at Central Eastern Europe Innovators Summit

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Last Tuesday, Central Eastern Europe Innovators Summit took place in Warsaw. Among the guests that participated in the event were leaders of the Visegrád Group (V4 group): Poland, Czech Republic, Slovakia and Hungary. Prime ministers of the four countries: Beata Szydło, Bohuslav Sobotka, Robert Fico, and Viktor Orban, came to Warsaw to give boost to the cooperation between the four CEE nations and stress the importance of joint development and investment in innovative projects in the region. Read more

Chances for cutting off Russian gas

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In one of his recent statements, the Minister of Foreign Affairs Witold Waszczykowski announced that within the next five years Poland is able to bring about the situation when it becomes independent of Russian gas. He also criticised the construction of the Nord Stream 2 gas pipeline.   Waszczykowski stated he has “limited trust in (…) the European institutions. In connection with this, we also take independent actions so as not to hinge solely on the dictate of Russian gas supplies Read more

PSG reactivates its Łuków branch

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This year, Polska Spółka Gazownictwa (a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo) launched another branch reactivated after its prior liquidation – gasworks in Łuków (Lubelskie voivodship). During a meeting with local government officials from Lubelskie Voivodship, Minister Krzysztof Małkiewicz declared that re-opening of the branch in Łuków provides opportunity for development for the entire regions, as also that as a “new” investment, it has a chance to bring more jo Read more
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