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European Court of Justice opinion on foreign currency loans
Following the opinion recently delivered by the European Court of Justice (ECJ), the Polish Banking Supervision Commission KNF has warned of “dramatic consequences for the banking sector” if private consumers would be granted a “free loan”. The long-running dispute over foreign currency loans, especially mortgage loans in Swiss francs, has...
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Swedes invest in cellulose fibre packaging production in Kostrzyn
The paper manufacturer Arctic Paper and the Swedish cellulose producer Rottneros AB have contractually agreed on a joint venture for the construction of a paper mill in Kostrzyn nad Odra. The site, located at the border crossing to Germany, will produce molded cellulose fiber packaging from the end of this...
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Start of production of Jeep Avenger in Tychy
At the car plant in Tychy (formerly Fiat-Chrysler), the Stellantis Group has started regular production of the Jeep Avenger. The fully electrified vehicle is the first Jeep produced by the car company in Poland. The Jeep Avenger is a vehicle from the B-segment of SUVs. The vehicle was named “Car...
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Polenergia opens one of the largest wind farms in Poland
The private company Polenergia has opened FW Dębsk, its largest wind farm. With a projected annual output of 366 GWh, equivalent to the electricity needs of around 180,000 private households, it is also one of the largest wind farms in Poland. It is located around 60 kilometres north of Warsaw....
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Withholding Tax (WHT) 2023
Interest, royalties, and others Interest and royalties paid to a non-resident and fees for certain intangible assets and legal services (e.g. consulting, accounting, legal and technical services, advertising, data processing, market research, recruitment, management, inspection services and guarantees, etc.) are subject to 20% withholding tax, unless the rate is not...
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Government plans tax on vacant residential real estate
According to research institutions, the housing shortage in Poland is about 1.5 to 2 million apartments. At the same time, however, there are around 1.8 million vacant apartments, according to the CIS statistics office. In order to resolve this imbalance and combat speculation on housing prices, the government announced at...
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Extension of deadlines for filing CIT returns for 2022
We would like to inform you that on 21 March 2023, a regulation was published in the Journal of Laws 2023, item 530 extending the deadlines for filing corporate income tax returns for the tax year that ended between 1 December 2022 and 28 February 2023. The extended deadline also...
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Estonian CIT – current legal status 2023
Estonian CIT is referred in the law as a lump sum on income of capital companies. It is a modern way of taxation that promotes investments and minimizes formalities when settling taxes for capital companies and partnerships. This solution is addressed to: micro, small and medium-sized capital companies and partnerships...
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Commissioning of the car tunnel to the island of Usedom announced for May
The construction of a car tunnel connecting the island of Usedom with the Polish mainland is nearing completion. According to the General Directorate for National Roads and Motorways (GDDKiA) in Szczecin, all structural work has been completed. At present, the asphalt is still being laid on the two-lane carriageways. The...
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Microsoft Business Central and the National e-Invoicing System (KSeF) – E-invoices
The integration of Microsoft Business Central (formerly known as Microsoft NAV) with the National e-Invoice System (KSeF) is currently underway. Thanks to this solution, system users will be able to send electronic invoices that comply with the requirements of Polish law and accounting, without recourse to additional tools. The integration...
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