Polish connections with Pandora Papers from Polish law point of view

What are Pandora Papers?

The Pandora Papers is a leak of more than 12 million documents that reveals hidden wealth, tax avoidance and sometimes unethical or corrupt dealings of the global wealthy – prominent world leaders, politicians, corporate executives, celebrities, and billionaires. The data was obtained by the International Consortium of Investigative Journalists (ICIJ) in Washington DC, which has been working with more than 140 media organizations on its biggest ever global investigation. The Pandora Papers was the largest investigation in journalism history that exposed a shadow financial system.

There are files that expose how some of the most powerful people in the world use secret offshore companies to hide their wealth. Already, politicians from 90 countries have been exposed as hiding money offshore and avoiding taxes. The papers reveal the offshore interests and activities. The offshore countries or territories are where it’s easy to set up companies, there are laws that make it difficult to identify owners of companies or there is low or no corporation tax.

Heroes of the publication include former British Prime Minister, Ukrainian President, Czech Prime Minister, Russian President, one of Colombian singers and one of German top models. One of Polish businessmen also appeared in the “Pandora Papers” investigation.

Is it illegal to use tax havens?


Measuring Brand Equity, Polish legal regulations and the World’s Most Valuable Brands

The term “brand” is sometimes defined in different ways. Generally speaking, however, it is a name, a symbol, a graphic sign or a combination of these created in order to distinguish a given product or service from other competing goods. A brand is a set of functional elements that help build a customer base and enable the brand owner to achieve market leadership. A brand may consist of a name which is the verbal part and a non-verbal part, i.e. any symbol, logo. A brand or part of a brand under legal protection becomes a trademark.[1]

What is a trade mark and what is its purpose?

A trademark can be any sign capable of distinguishing the goods or services of individual entrepreneurs. Pursuant to Article 120 of the Polish Industrial Property Law Act, a trademark can be a word or a phrase as well as a drawing, an ornament or a colour composition. Trademarks are used in business transactions. In other words, an entrepreneur uses its trademark in trade with a consumer or another entrepreneur to identify its products or services. A trademark is therefore a sign that distinguishes enterprise from other enterprises of the same kind that have a similar offer.[2] 


The EU’s new MiCA regulation on crypto-assets

As the market for cryptocurrencies and crypto-assets is growing at a frenetic pace, last year there were many discussions in the European Union about the rules and regulations related to them. On September 24, 2020 the European Commission has issued an important project affecting the Market of Crypto-assets in the European Union, namely the Proposal for the REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on Markets in Crypto-assets, and amending Directive (EU) 2019/1937.

What is the purpose of the proposal?

Due to the growing popularity of cryptocurrencies, there has occurred a need for increased regulatory scrutiny. There are different approaches to cryptocurrencies around the world regarding government regulations. The regulations in the new draft are designed to protect consumers from cyber-attacks, theft or malfunction on cryptocurrency exchanges. What is surprising – despite the emphasis on increased scrutiny and protection, the regulation does not mention a requirement for mandatory insurance against, for example, loss of assets due to fraud or cyber-attack.



On 19 October 2021 KIELTYKA GLADKOWSKI will participate in the webinar, organised by a multi-jurisdictional law firm Caiado Guerreiro, on Non-fungible Tokens and their legal status.

In the webinar, the participants will answer to the most frequent questions about this revolutionary form of art that is trending all over the internet, as well as the legal aspects that are inherent to it.

A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a digital ledger (blockchain). NFTs can be used to represent easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items (analogous to a certificate of authenticity), and use blockchain technology to establish a verified and public proof of ownership. Copies of the original file are not restricted to the owner of the NFT, and can be copied and shared like any file. The lack of interchangeability (fungibility) distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin.


Tax deal for the digital age in BEPS problem – the Two-Pillar Solution of the OECD for 15% income tax for Multinational Enterprises (MNEs)

On 08 October 2021 there was finalised a major reform of the international tax system at the OECD which will ensure that Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023.

The landmark deal, agreed by 136 countries and jurisdictions representing more than 90% of global GDP, will also reallocate more than USD 125 billion of profits from around 100 of the world’s largest and most profitable MNEs to countries worldwide, ensuring that these firms pay a fair share of tax wherever they operate and generate profits.

Following years of intensive negotiations to bring the international tax system into the 21st century, 136 jurisdictions (out of the 140 members of the OECD/G20 Inclusive Framework on BEPS) joined the Statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy. It updates and finalises a July 2021 political agreement by members of the Inclusive Framework to fundamentally reform international tax rules.

With Estonia, Hungary and Ireland having joined the agreement, it is now supported by all OECD and G20 countries. Four countries – Kenya, Nigeria, Pakistan and Sri Lanka – have not yet joined the agreement.

International community strikes a ground-breaking tax deal for the digital age