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Coronavirus alert

Public support for restructuring

The legislative efforts to help business in the face of the coronavirus epidemic are gaining steam. One of the legal acts currently under consideration is the act on public support to rescue or restructure businesses, a draft of which was published on March 20, 2020. Th...

Coronavirus alert

Corporate resolutions vs. coronavirus restrictions

Actions aimed at quelling the spread of COVID-19, such as border closures, flight cancellations and severe restrictions on gatherings and travel, may have a massive impact on business operations, especially when it comes to resolutions adopted by shareholders, managemen...

Coronavirus alert

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. Salary subsidies Paid from the budget of the Guarante...

Coronavirus alert

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...

Coronavirus alert

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...

Coronavirus alert

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 ...

Coronavirus alert

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...

Coronavirus alert

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...

Coronavirus alert

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, ...

Coronavirus alert

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...

Coronavirus alert

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...