Shielding business from crisis. Revision of COVID-19 special-purpose act – labour law and salary subsidies
As the Polish government continues to work on the revision of the COVID-19 special-purpose act, we have prepared an overview of the proposed changes regarding employer support in the face of the coronavirus crisis.
Paid from the budget of the Guarante...
Revision of bankruptcy law: pre-pack bankruptcy
As the coronavirus epidemic upends Polish reality, the effective date of the bankruptcy law amendment, introduced on the basis of the act of August 30, 2019, remains unaffected. New laws enter into force today (March 24, 2020). Next to personal bankruptcy, which may now...
Suggestions for performance of public contracts
The Ministry of Development is working on the so-called “Anti-Crisis Shield.” The draft act amending the Act on Special Solutions Related to Prevention and Combating of COVID-19, Other Infectious Diseases and Crisis Situations Arising from them,” as well as amending sel...
Tax aspects of the Anti-Crisis Shield
Potential tax loss carryback – PIT and CIT (applies to losses incurred in 2020)
• Taxpayers that:
(i) suffered a loss in 2020; and
(ii) generated revenues which are at least 50% lower than in 2019 (with respect to the same operations)
due to COVID-19, can apply the ...
Anti-Crisis Shield – key changes for the real estate sector
1. Statutory reduction of rent in retail complexes with sales area of over 2,000 sqm
• Statutory rent reduction of 90%, applicable to retail developments with a sales area exceeding 2,000 sqm, covering the period over which the Tenant’s operations are prevented/hindere...
Capital markets – easing regulatory burdens in face of coronavirus epidemic
Supervisory Impulses Package – Polish Financial Supervision Authority’s Office (PFSAO) proposes to ease regulatory burden and supervision amid coronavirus outbreak.
As the coronavirus epidemic spreads, the PFSAO works on a set of proposals to help entities supervised b...
Further restrictions for shopping centers
The most recent Regulation tightens the restrictions on retail and services in commercial developments of over 2,000 m2. Limitations applicable to ofﬁce buildings (canteens, restaurants, cafés) have been extended without any major modiﬁcations.
Starting from March 21, ...
Calling all businesses! Want to help? We’re here to help you at no cost
Want to support Poland in fighting the pandemic?
Planning to donate goods or services to hospitals? Wish to provide machines, equipment or premises?
Worried that your good intentions will backfire, and you'll end up in a maze of taxes and paperwork?
We want to help...
Another batch of anti-crisis tax measures
Based on its announcement of March 19, 2020, the Ministry of Finance is suggesting the following types of anti-crisis solutions related to taxes.
• Potential tax loss carryback (PIT and CIT).
The loss recorded in 2020 can be applied to the previous profitable year (20...
Coronavirus epidemic and its impact on performance of obligations arising from construction works agreements
The SARS-CoV2 (“Coronavirus”) epidemic might lead to numerous problems in performance of construction works agreements.
Our clients point to conflicting signals coming from the market:
• in some investment projects (e.g. large construction projects), investors ins...
Ant-crisis measures – aid package covering taxes and social insurance (ZUS) contributions
On March 18, 2020, during a conference held after the Cabinet Council meeting, the President and Prime Minister of Poland announced that works are underway on a range of draft bills as part of the so-called “anti-crisis shield.” They are supposed to form an aid package ...