Wardyński & Partners announces recruitment for the Litigation Academy

07.09.2018

The Litigation Academy is a series of workshops designed for students in their last years of legal education and recent graduates now training for the profession. During the workshops experienced litigators will share with participants knowledge and skills in working with the client, the court, and teams of specialists from various fields and jurisdictions.

Transportation service applications to be regulated?

30.08.2018

Major changes to the Road Transport Act are in the pipeline. The changes are intended to regulate the activities of firms that act as go-betweens in passenger services, for instance by providing mobile applications or computer software.

Taxation of income from trading in cryptocurrencies: A new approach

23.08.2018

The Polish government is currently working on a completely new tax regime applicable to income from trading in cryptocurrencies (virtual currencies) for personal income tax and corporate income tax purposes. For PIT purposes, this income is to be taxed as income from cash capital at the rate of 19% regardless of whether the turnover is of a private nature or made in the course of business activity. For CIT purposes, the income from trading in cryptocurrencies will be classified as capital gains. These new rules would apply from 1 January 2019.

Changes in public-private partnerships

23.08.2018

Compulsory evaluation of the effectiveness of PPP projects, the possibility of obtaining an opinion on the legitimacy of a project carried out under this formula, a PPP test for projects valued at more than PLN 300 million, implementation of PPP projects via a special purpose vehicle owned by a private partner: these are just some of the changes introduced by an act recently signed by the President of Poland.

Disputes involving demand guarantees

09.08.2018

Demand guarantees are among the most popular methods of securing international commercial transactions. They may be used to secure both the payment of fees and satisfactory performance of particular works. The popularity of these guarantees (sometimes also referred to as payment guarantees) can be attributed to the fact that they are issued by trustworthy and globally recognisable financial institutions (usually banks and insurance companies), and their operation is governed by universal rules well-understood in the business community. Guarantees are also independent of the underlying relationship between the parties, and the payment conditions are based on objective criteria, eliminating the potential for unexpected interpretations and actions by the parties. Given these factors, it is understandable that disputes regarding payment guarantees can usually be avoided. However, when they do occur, they usually involve substantial sums, with the potential to affect the financial liquidity of the companies involved.

The split payment mechanism

02.08.2018

Regulations introducing the split payment mechanism for VAT entered into force in Poland on 1 July 2018. This mechanism in B2B transactions is designed as a weapon in the fight against VAT fraud.