Sypher is a technology company that creates privacy and compliance management software, headquartered in Bucharest, Romania. Sypher’s founders have over 40 years of combined experience in designing and implementing projects requiring data security and protection compliance in the e-commerce, banking and insurance industries.
KIELTYKA GLADKOWSKI KG LEGAL takes part in their webinar “Managing the Interplay Between the AI Act and GDPR” on 22 January 2025.
Entrepreneurs use various types of contracts in the course of conducting business activity. In business transactions, there are named contracts (i.e. regulated by the provisions of applicable laws) and unnamed contracts (i.e. contracts permissible due to the principle of freedom of contract, but not regulated in any applicable legal act). The type of contract depends on the characteristics of the legal relationship established between the parties. The name of the contract itself does not determine its nature, which is why a civil law contract may be recognized as an employment contract.
On 14 January 2025 Patryk Piecha of KIELTYKA GLADKOWSKI KG LEGAL had the great pleasure of participating in a webinar organized by Dow Jones devoted to “Sanctions: The Outlook for Policy and Enforcement.” This was a chance to familiarize with experts’ opinions on the impact of the incoming U.S. administration under President-elect on global policy and the economies of U.S. allies and the European Union. The speakers were Nicholas Elliott, Miroslava Panuscikova, Tom Blass, Rachel Ziemba, and Rachel Fiorill. The webinar consisted of two parts. The speakers firstly provided a detailed analysis of various statistical data, such as the monthly changes in sanctions from 2020 to 2024, with particular attention paid to the sudden changes starting in February 2022 (Russia’s aggression against Ukraine), when there was a significant increase in sanctions imposed, particularly by the EU on Russia. The biggest leader in sanctions during this period was OFAC, the U.S. Office of Foreign Assets Control. The speakers also discussed UN sanctions (on various countries), which have remained unchanged over the past two years, while EU sanctions have been undergoing substantial changes, especially with respect to Ukraine.
The turn of the year was particularly busy for the lawyers of KIEŁTYKA GŁADKOWSKI KG LEGAL. Our team has been trusted by representatives of top law firms and global business corporations. Since the profile of the law firm is a result of experience, we would like to present flagship cases that, like in a lens, focus the profile of our law firm specializing in cross-border cases:
1/ CROSS-BORDER TRANSACTION OF THE SALE OF THE WORK OF ART – unique transaction value
Our team dealing with cross-border matters supported with its legal services the world’s most renowned British auction house, which mediated in the sale of a handwritten document of one of the most important artists of Polish origin to a Polish cultural institute established under a separate Polish act.
KIEŁTYKA GŁADKOWSKI advised on:
– negotiation of payment security under the direct public procurement procedure and budget subsidy from the Ministry of Culture for the purchase of a work;
– representing an intermediary selling the work of art in the procedure of temporary transit of the work for auction purposes before customs authorities;
– negotiations regarding contractual obligations regarding the provenience of the work.
Practical comments on beneficial owner, treaty shopping, beneficial owner clauses for dividends, beneficial owner clauses for interest, substitute companies and abusive clauses, the status of a beneficial owner in various types of intermediary centres between service orderers and service providers, withholding tax on interest paid within the cash pooling structure.
Basic definitions
The look-through approach (also known as LTA) is an issue in international tax law concerning the problem of double taxation, also related to the issue of the so-called withholding tax. It allows for the application of preferential double taxation rates based on a double taxation treaty concluded between Poland and the country of the beneficial owner’s seat, in the scope most often concerning dividends, interest and royalties. However, only an entity with the status of a beneficial owner, is entitled to such privileges.
