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A remake of the anti-crisis law
The Polish government has recently (end of May) passed a resolution prosaically named: “An act on separate measures in order to mitigate the impact of the economic crisis for both employees and business owners aimed at the workplace protection”. The draft law is in fact a remake of the anti-crisis...
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More flexible working hours provisions
The Senate as the second chamber of the Polish Parliament has agreed to the amendments on the Labor Code adopted in early July by the Polish Parliament (Sejm). This opens the door for the introduction of more flexible working hour arrangements within the companies which stipulate an extension of the...
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The introduction of the EURO in Poland could be delayed by years
Following a newspaper report, the introduction of the EURO in Poland could be delayed by years. As per today there is no 2/3 majority in the Polish parliament for a required change of the Polish constitution (which defines the Polish currency Zloty as the only admissible Polish floating currency). This...
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National Bank of Poland (NBP): definitely the last interest rate cut
The Interest Rate Setting Council of the National Bank of Poland (NBP) has cut the prime rate by a further 25 basis points at the beginning of July. The reference prime rate herewith stays on the historical all-time low of 2,5%. While in the past the vague declarations of the...
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Unemployment at 13.2% in June
The registered unemployment rate in Poland dropped 13.2 percent in June, according to an estimate from the Ministry of Labor and Social Policy. In May, the jobless rate was 13.5 percent, according to statistics office GUS. Unemployment has been falling for seasonal reasons since it hit a recent peak in...
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Poland to extend SEZs’ lifespan
Deputy PM and Economy Minister Janusz Piechociński said that the government has decided to extend the lifespan of special economic zones (SEZs) until 2025. Polish SEZs were originally scheduled to function until 2020. Mr Piechociński said that ministries are now working on adopting changes to regulations on the activities of...
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Exchange rate (EUR/PLN) from 6 June 2013
Exchange table of National Bank USD: 3,26 Zloty EUR: 4,27 Zloty CHF: 3,46 Zloty (Information from: 6 June 2013) Government securities / Rate of return 2-Year: 2,93 % 5-Year: 3,31 % 10-Year: 3,73 % (Information from: 6 June 2013) Interest on credits Business loans: 9,77 % Consumer loans: 12,72 %...
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Automatic exchange of tax information with other countries
Poland has become the first country in the region of the G5 to join an automatic exchange of tax information with other countries” – openly said the Polish Finance Minister Jacek Rostowski during the meeting with his European counterparts, which took place in Brussels in the second half of May...
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Paid maternity leave extended to one year
The Polish government has concluded an extension of the maternity leave to one year. Mothers and Fathers of children, who have been born starting from this year or who will be born, can make use of one year paid holidays, provided that both parents are working. In the first six...
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Poland will introduce regulations on tax evasion
The Polish state intends to prevent in the future, that companies with registered headquarter in Poland are going to transfer their profits towards special purpose vehicles incorporated in countries, where lower tax rates apply than those in place in Poland. The ministry of finance has for that purpose already prepared...
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