changes in law
Under proposed changes, the procedure for liquidation of branches of foreign undertakings would become easier and would also comply with EU law. Thus after several years of uncertainty and disagreement on this topic, Polish law should return to the position approved by the Supreme Court in 2007.
Under a proposed amendment to the Personal Income Tax Act, from 1 January 2018 the compensation of management board members will be taxed at regular rates (18%/32%), whether paid in cash or bonuses in the form of derivatives of financial instruments or other property rights.
The General Data Protection Regulation entering into force on 25 May 2018 is not the only privacy revolution in store for the EU. The proposed ePrivacy Regulation is also generating greater and greater controversy and may change the shape of the internet as we know it.
In July 2017 the Government Legislative Centre published a proposal to amend the Trading in Financial Instruments Act and certain other acts, to bring the Polish legal system into compliance with the EU laws governing the capital market, in particular MiFID II (Directive 2014/65/EU) and MiFIR (Regulation 600/2014). The amendment would significantly change the wording of a number of existing acts and require capital market entities to comply with the new regulations. One notable feature is the introduction of the notion of reverse solicitation, not previously regulated in Polish law.
Long-awaited regulations limiting the scope of the duty to conclude written contracts for supply of agricultural products went into force on 22 August 2017. Under the new rules, the requirement for written contracts applies only to supplies of defined groups of agricultural products from farmers operating in Poland.
One of the most anticipated acts in the environmental arena has now been adopted: the new Water Law. This statute with 570 articles enters into force on 1 January 2018 and will fundamentally change the rules for water management in Poland.