03 | 11 | 2016

Penalisation of commerce—confiscation of enterprises

With the fight against economic crime, criminal law increasingly intrudes into the sphere of business. Under proposed legislation, an enterprise used to commit an offence could be confiscated.

03 | 11 | 2016

Elimination of income tax exemption for closed-end investment funds

On the last day of October a notice was published on the Sejm website on filing of a parliamentarian’s bill to amend the Personal Income Tax Act and the Corporate Income Tax Act. The changes to the CIT Act, to enter into force on 1 January 2017, would eliminate the exemption from corporate income tax for closed-end investment funds (FIZ). This exemption has been used as a major instrument for tax optimisation, for example for entities involved in trading of debt and real property, and for taxpayers seeking protection against rules governing controlled foreign corporations (CFC).

27 | 10 | 2016

PSD2: Strong customer authentication

Proposed standards for strong authentication stir numerous controversies.

20 | 10 | 2016

First ruling on legal remedies by National Appeal Chamber since overhaul of Public Procurement Law

Poland’s National Appeal Chamber (KIO) issued an order on 5 September 2016 of great practical significance, applying new procurement rules on the permissibility of appeals by contractors interested in bidding for public contracts below the EU thresholds.

20 | 10 | 2016

Privacy Shield up and running

On 12 July 2016 the European Commission adopted a decision under Directive 95/46/EC on the adequacy of the protection provided by the EU–US Privacy Shield, confirming that entities operating in the United States that meet the conditions specified in the Privacy Shield programme will be deemed to provide an adequate level of protection of personal data. This means that it will be permissible to forward personal data to such entities without the need to apply other mechanisms to ensure adequate protection of the data, such as binding corporate rules or approval of the data protection authority.

20 | 10 | 2016

E-labels on foods

Consumers and producers alike complain that labels on food products are hard to understand. Could the solution for crowding in too much information be an electronic label where data of interest to the consumer could be checked using a smartphone app?