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New regulation regarding employee participation in a newly established company
As of September 15, 2023, new regulations have come into effect, determining forms of employee participation in a company created as a result of cross-border transformations, mergers, or divisions of companies. This affects the Act of May 26, 2023, on employee participation in a company created as a result of...
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Amendment to the Code of Commercial Companies
On August 22, 2023, the President signed the Act of August 16, 2023, amending the Commercial Companies Code and certain other acts. The Act came into force on September 15, 2023, introducing numerous important changes related to the reorganization of companies, both domestically and internationally. The changes implemented in the...
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Foreign controlled entities (CFCs) – tax on pass-through income
Pass-through income is defined as a specific type of tax-deductible expenses incurred by a taxpayer to a non-resident related party during the tax year. Taxes on pass-through income at a rate of 19% on the taxable base must be paid by taxpayers provided several conditions are met. I. The taxpayer...
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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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Obligation for a company to file a CbC-P notification or CbC-R report
Country-by-Country report (CBC-R) is a reporting mechanism set out in the Act of 9 March 2017 on the exchange of tax information with other countries. Entities belonging to large multinational groups are obliged to report tax information related to that capital group to the National Tax Administration. In order to...
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Nuclear power plants in Poland
4 gigawatts for 20 billion dollars According to Anna Moskwa, Minister of Climate and Environment, these are the key figures for Poland’s first nuclear power plant. The Polish government has now decided that it will be built using technology from the US power plant supplier Westinghouse. The planned site is...
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New version of the Instructions for filling in and sending INTRASTAT declarations in Poland
The Customs Department of the Polish Ministry of Finance has published on its page a new version of the Instructions for Completing and Submitting INTRASTAT Declarations (dated July 27, 2022). These instructions are available under the link: Instructions for filling and sending INTRASTAT declarations, version 1.15 What has changed? According...
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1 billion PLN for the expansion of the container port in Gdansk
The operator of the container port in Gdansk, DCT Gdansk Sp. z o.o., has signed a PLN 1 billion contract with a consortium led by Polish construction group Budimex for the expansion of the container port. With the construction of the third Baltic Hub 3 terminal, the Baltic port is...
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Controlled Foreign Corporations (CFC) – more entities
Tax changes implemented as of January 1, 2022 expanded the catalog of entities qualifying as Controlled Foreign Corporations (CFC), thereby requiring more entities to apply tax rules specific to those entities. The most significant of these changes include: the addition of two new specific entity qualification categories, extension of the...
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Three-step roadmap to reroute your business strategy towards sustainability and de-carbonisation
Following the recent United Nations Climate Change Conference (COP26), we encourage you to have a look at the 2021 Sustainability Report prepared by HLB International. From the obvious physical effects of climate change such as extreme weather conditions and resource scarcity, to regulatory changes and compliance, and increased demand for...
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