Businesses no longer required to seek KNF’s approval for offering memorandum in case of “rolling” offerings – relief for businesses amid coronavirus epidemic
In the Supervisory Impulses Package for the Security and Growth of the Capital Market, the Polish Financial Supervision Authority (KNF) announced relief for businesses regarding (among others) the offering documents processing. As promised, the “Anti-Crisis Shield,” ado...
Amendments to public procurement law in view of “Anti-Crisis Shield” – UPDATE
As part of the so-called “Anti-Crisis Shield,” March 31 saw the Polish President sign an act (the “Act”) that contains modifications related to the public procurement law (“PPL”). Below you will find a summary of changes to the previous version of the “Anti-Crisis Shiel...
Personal data protection amid #coronavirus
The response to the COVID-19 outbreak has infiltrated nearly every aspect of daily life. Polish laws have not been immune to the epidemic’s impact either, with the government recently announcing a draft of the so-called Anti-Crisis Shield designed to amend a number of a...
Poland’s shopping malls to close?
A draft amendment to the COVID-19 Act has been published on the Polish parliament’s website today.
The full version of the document is available here.
Based on this draft, article 15ze of the Act, which provides for a 90% rent discount for entities whose operations in...
Changes in civil procedure following COVID-19 outbreak
In an effort to counter the coronavirus outbreak, the Ministry of Justice has unveiled a set of emergency regulations designed to mitigate the impact it has on, i.a. civil procedure.
The regulations proposed by the Ministry of Justice have been included in the draft ...
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...
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...
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 ...