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Polski Prąd i Gwith a 10 million PLN fine from UOKiK

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Polski Prąd i Gaz (former Polska Energetyka PRO) was penalized by the President of the Office of Competition and Customer Protection (UOKiK) with a fine in the amount of 10 million PLN. It is suspected that company representatives were pretending to be the current electricity provider.   Polski Prąd i  Gaz, previously a member of the Financial Assets Management Group capital group (whose members are also Telekomunikacja dla Domu and Tele-Polska) is one of around 460 entities selling el Read more

Warsaw Stock Exchange bullish

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We have bull market – declared Magdalena Zaleska, the President of Warsaw Stock Exchange. She hosted a press conference in which she presented Warsaw Stock Exchange Group’s results and current situation. The news she had to present were very good. The group accrued annual income in the amount of 131.1 billion PLN, the highest since 2011.   Poland’s most important exchange market has shown very good results from November 2016. WIG, the main index accruing stock prices of all companie Read more

Severe penalties for fabricating invoices

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From 1 March 2017, a new act came into effect which toughens the provisions on using fake invoices. This offense carries the penalty of up to 25 years in prison and high fines. A new category of crime entered the Criminal Code: issuing fake VAT invoices and fabricating them and modifying them in order to use them as authentic.   Pursuant to the act, forging or modifying an invoice in the way that may have impact on the calculation of tax or tax refund, as well as using such invoice, carri Read more

Polish-Norwegian Baltic Pipe talks

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On Friday, 10th of February, in Warsaw, Polish Minister of Foreign Affairs Witold Waszczykowski hosted Norwegian head of diplomacy Børge Brende. Among the key topics planned for discussion at the meeting were energy projects with participation of both countries (in particular Baltic Pipe within the concept of the North Corridor) as well as the situation of Polish diaspora in Norway.   Baltic Pipe, a planned gas pipeline connecting Denmark and Poland, is to link Polish and Dani Read more

Funding for Poland-Slovakia gas pipeline

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Poland – Slovakia gas connection may now become a reality thanks to backing obtained through the “Connecting Europe” instrument. It is a new financing tool that is to replace the previous TEN-T programme and support development in three areas: transportation network, IT network and energy network, and to contribute to sustainable growth. The funding from the programme may be consumed from 2014 to 2020. As Maroš Šefčovič, deputy chair for energy union of the European Commission, claims, Read more

Tougher tax inspections after 1 March

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Tax administration reform and new rules of tax inspections come into force on the first of March. The Ministry of Finance is on war with tax fraudsters and is determined to bring white collar crime down and budget revenue up. During the recent press conference, Mateusz Morawiecki, Polish Deputy Prime Minister and the Minister of Finance, announced “the beginning of a new era”.   The newly created body that will replace the existing tax control units, Krajowa Administracja Skarbowa [Na Read more
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