Poland will have its own tax on innovation. The Polish Ministry of Finance finishes work on the so-called IP Box.
It is a tax on innovation aimed to improve the innovativeness of the Polish economy.
It is directed to attract foreign innovative companies and to keep domestic innovative companies so that they do not “run away” to other countries where tax rates are more advantageous. IP Box is going to be 5% for 20 years (the period in which there lasts patent protection and other protective rights guaranteeing exclusivity for the author). However, it is uncertain whether it will be possible to maintain such a high level of tax relief, as the Ministry of Finance will have to comply with the restrictions imposed by the EC and OECD to avoid allegations of harmful tax solutions.
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Caring for the state of the environment is one of the sentences of the state. Hence, the legislator imposes a statutory requirement on entrepreneurs to obtain a permit to issue emissions generated during the production of pollutants. Pawel Dyrduł, lawyer from law office KG Legal Kiełtyka Gładkowski Sp.p with its registered office in Krakow, discusses the issue of transfer of rights expressed in the permit to use the environment.
Permission to use the environment
The issue of obtaining a permit to use the environment has been regulated in the Act of 2001 Environmental Protection Law (Journal of Laws 2017.519 i.e. of 2017.03.13). It is generally accepted that the installations or equipment installed in the company affect the environment. The principle of operation of the installation, expressed in Art. 144 of the Environmental Protection Law stipulates that it should not cause the environmental quality standards to be exceeded. Putting into the environment substances or energy (gases or dusts into the air, sewage to water or to ground, waste generation) requires a permit, which is called a permit to use the environment. It appears at the request of the interested party. It is issued by an environmental authority competent for the place of business, causing the introduction of substances or energy into the environment for a period of 10 years with the possibility of extension for another 10 years.
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Very often, the management of capital companies in Poland daily is living abroad. Thus, the problem of day-to-day management of the company and the operation of the company in relation to third parties arises.
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Doing business in Poland is becoming more and more common. Both citizens and foreign investors are making the decision to start their business. Therefore, it is worth to briefly discuss the most popular forms of business financing available on the Polish market. The characteristics of these forms are made by Paweł Dyrduł, lawyer from KG Legal Kiełtyka Gładkowski Sp.p with its registered office in Cracow.
Division of forms of financing
Forms of financing business activity can be divided in terms of many criteria. However, the basic division is the division into internal forms and external forms. As the name implies, internal financing is based on increasing the capital of an enterprise by looking inside it. External financing is, in turn, the conclusion of contracts with entities operating on the market, which, under appropriate conditions, agree to make available to the enterprise financial means for running a business.
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Running a company in the form of a limited liability company in Poland entails the obligation to prepare the financial statements for the financial year. The obligation to prepare the financial statement, its elements and main principles are analysed by Paweł Dyrduł, associate lawyer from Polish law firm KG Legal Kiełtyka Gładkowski Professional Partnership with its registered office in Krakow.
Limited liability company
Limited liability company (Ltd.) is one of the legal forms provided for conducting business activity in Poland. It is a share-holding company and therefore has legal personality. The establishment, operation and liquidation of this company are governed by the provisions of the Act of 15 September 2000 Commercial Companies Code. It is regulated in articles from 151 to 300 inclusive.
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