Publication date: June 02, 2025
According to art. 3 sec. 1 of the Act of 27 May 2004 on investment funds and management of alternative investment funds, an investment fund is a legal person whose exclusive business activity is to invest funds collected by proposing the purchase of participation units or investment certificates in securities, money market instruments and other property rights specified in the Act. This means that the sole purpose of such a fund is to invest money that has been collected from people. The investment must meet the principles specified in the Act. It is worth noting that an investment fund acquires legal personality only upon entry into the register of investment funds.
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Publication date: June 02, 2025
The employer is obliged to provide employees with working conditions that meet the requirements of occupational health and safety in accordance with the Regulation of the Minister of Labor and Social Policy on general occupational health and safety regulations (Journal of Laws 2003.169.1650). Compliance with these rules is crucial for the protection of the health of employees and their comfort while performing their duties.
Working environment conditions
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Publication date: May 29, 2025
The Polish Accounting Act does not define the concept of liabilities, however the balance sheet layouts indicated in Annexes 1-6 to the Accounting Act allow us to state that liabilities are sources of financing assets. Liabilities indicate where the funds from which the assets were acquired or created came from. The main groups of sources from which the financial resources from which the assets shown in the balance sheet were obtained are: 1) equity of the entity preparing the balance sheet, 2) liabilities and 3) accrued expenses. Such an understanding of liabilities leads to the conclusion that the sum of assets and the sum of liabilities shown in the balance sheet must be equal. This view was presented by the Judgment of the Polish Regional Administrative Court in Warsaw of 17 October 2017, III SA/Wa 2678/16, LEX no. 2760834.
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Publication date: May 27, 2025
Shadow Banking – Legal and Regulatory Issues
Shadow banking, or the parallel banking system, includes financial institutions and credit intermediation mechanisms that operate outside the traditional banking system. These entities, unlike commercial banks, are not subject to strict regulatory oversight, which raises numerous legal and regulatory challenges. Shadow banking performs functions similar to banking, such as accepting deposits, granting loans, or financing assets, but operates in less transparent structures.
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Publication date: May 27, 2025
arm’s length principle; the obligation to establish transfer prices on the same terms as unrelated entities would establish; market price in real property sector; asset approach; the income approach; the comparative approach.
What is market price?
The Act of 28 July 1983 on Polish inheritance and gift tax defines the market value of goods or services. It turns out that this value is determined based on average prices used in the trade of goods of the same type and kind, taking into account their location, condition and degree of wear and tear, as well as in the trade of property rights of the same type. In other words, it is the highest price at which the buyer is willing and able to acquire a given good, as well as the lowest that the seller can agree to.
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