new provisions

Tax strategy: A step toward transparency or just more red tape?

Tax strategy: A step toward transparency or just more red tape?
Despite the difficulties this year, Polish lawmakers did not forget about their annual update of tax laws. Under the recently adopted regulations, the Treasury will seek to learn more about taxpayers by requiring them to draft, file and even publish a tax strategy. Is this a move toward transparency for the country’s largest companies, or another unnecessary formality?

New waste storage requirements

At the beginning of 2021, the Regulation of the Minister of Climate of 11 September 2020 on Detailed Requirements for Waste Storage will come into force. The aim of the regulation is to establish uniform standards for waste storage and thus limit the negative impact of this activity on the environment.

What will be the fate of applications for building permits prepared under the old energy-efficiency standards?

All buildings designed and executed in Poland on or after 31 December 2020 will have to meet stricter standards for consumption of non-renewable primary energy and the U-factor for heat flow. This change implements into the Polish legal system EU regulations adopted in 2010. It might seem investors have had a long time to prepare for the new energy-efficiency standards. But many of them are still waiting for consideration of applications filed under the existing standards, and their applications may not be decided before the more stringent standards enter into force. This raises the question of how those pending applications will be decided.

Amendments to the Inheritance and Gift Tax Act

The set of parties who can benefit from inheritance and gift tax exemptions will expand. The exemption will now apply to persons who are or have been in a foster family, a family-style children’s home, a care and educational institution, or a regional care and therapeutic institution, as well as persons forming a foster family, running a family-style children’s home, or working with children in a care and educational institution or a regional care and therapeutic institution.

Abusive clauses under the new Public Procurement Law

Poland’s new Public Procurement Law, which enters into force on 1 January 2021, identifies a set of clauses that cannot be included in public contracts. Will Art. 433 of the new act be regarded as a catalogue of abusive clauses? What types of provisions will be prohibited?

Control of certain investments: new protective provisions

On 19 June 2020, the Parliament adopted “Shield 4.0,” new law of great importance for M&A practice. Shield 4.0 amends the Act on Control of Certain Investments of 24 July 2015 and enters into force on 24 July 2020.