The Wall Street Journal recently described quirks in the U.S. Tax Treaty with Malta that became a popular topic in the legal advice sector.[1] In the said article, WSJ describes an offshore tax shelter (a tax regulation in Malta) which promises rich Americans they can avoid lots of capital-gains taxes by setting up pensions in Malta. This issue is not only American struggle with tax abuse. For instance, Poland has also signed an international tax treaty with Malta (Agreement between the Government of the Republic of Poland and the Government of Malta for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income signed in La Valetta on 7 January 1994)[2] and in 2020 the Treaty was amended due to the necessity of closing loopholes in the international (bilateral) tax system[3]. Moreover as a restoration of the Polish industry after COVID-19 pandemic, the Polish Government and the Ministry of Finance prepared the new Tax Act which shall prevent the change of the entity’s tax residence to the offshore tax shelter [4].
Before
we move to the tax abuse based on the U.S. bilateral tax treaty with Malta it
is advisable to start with Treaty’s provisions treatment.
U.S.
– MALTA TAX TREATY
The Treaty was done in 8 August 2008 and came into force in late 2010. As Jeffrey L. Rubinger wrote The Treaty contains very favorable provisions that can result in significant tax benefits to U.S. members of a Maltese pension. In order for such U.S. members to take advantage of these benefits, the pension must qualify as a resident of Malta under the Treaty and also satisfy the limitation on benefits (LOB) article of the Treaty. [5]In his article Rubinger enumerates the Treaty’s provisions that could become a victim of the interpretation tax abuse.
Brand New Online Portal of the Polish Register of Entrepreneurs of the National Court Register
On 1st July 2021 in Polish jurisdiction a revolutionary change has taken place. Namely, there has been amended an Act on the National Court Register (Journal of laws of 2021, item 112 as amended).[1] The amendment is about an introduction of an electronic registration procedure. Especially the form of filing applications for the entry in the Register of Entrepreneurs of the National Court Register will be changed.[2] The amendment mainly concerns the registration issue of the limited liability company and the partnerships.
The National Court Register Act amendment is caused by a necessity to implement the European Parliament directives and the EU’s Council directives on some of the company law aspects (2017/1132 EU; 2012/17/ EU, etc.).[3] The issue of the adaptation to the European Union law can be found in the first article (art.1) of the Amendment Act of the National Court Registration Act.
A roundtable discussion among experts was held on 14 May 2021, which addressed the potential and challenges of dispute resolution for blockchain-based transactions.
This was the fourth event in the inaugural series organized by the SVAMC Initiative on Arbitration, Mediation and Blockchain-based Transactions.
Translation into French language made by Julian Morgan, trainee at Kiełtyka Gładkowski KG Legal
Affaires transfrontalières
CROSS BORDER CASES
Qui sont nos clients ? En tant que cabinet d’avocats polonais, Kiełtyka Gładkowski KG Legal fournit une expertise particulière pour les sociétés et clients privés. Nous assistons des entités internationales dans leurs relations juridiques avec les entreprises, le gouvernement et les autorités administratives polonaises. Nous conseillons également en cas de litige. Nous sommes souvent mandatés par des cabinets d’avocats internationaux dans la représentation des intérêts de leurs clients en Pologne autant en matière contentieuse qu’en matière non contentieuse.
Who are our Clients? KG Legal, as a Polish law firm, provides specialist expertise for corporate and private clients. We assist international entities in regulating their relations with Polish companies, government and administrative authorities and we assist in cross border litigations. We are often instructed by international law firms in respect of representing their clients in Poland, both in contentious and non-contentious matters.
KIEŁTYKA GŁADKOWSKI KG Legal | POLISH LAW FIRM rated in LEGAL 500 EMEA 2019
Translation into Turkish language made by Tayfun Yildiz, trainee at Kiełtyka Gładkowski KG Legal
SINIR DIŞI DAVALARI
CROSS BORDER CASES
Müvekkillerimiz Polonya merkezli bır hukuk bürosu olan KG Legal, kurumsal müvekkillerine profesyonel hukuki danışmanlık sağlamaktadır. Uluslararası kuruluşlara sınır otesi dava takibinde ve Polonya merkezli şirketler, Polonya hükümeti ve diğer idari kuuluşlarla olan ilişkilerinde destek sağlamaktayız. Gerek çekişmeli gerekse de çekişmesiz dava işlerinde genellikle müvekkillerini Polonya’da temsil etmek isteyen uluslararası hukuk bürolarından gerekli direktifleri almaktayız
Who are our Clients? KG Legal, as a Polish law firm, provides specialist expertise for corporate and private clients. We assist international entities in regulating their relations with Polish companies, government and administrative authorities and we assist in cross border litigations. We are often instructed by international law firms in respect of representing their clients in Poland, both in contentious and non-contentious matters.
KIEŁTYKA GŁADKOWSKI KG Legal | POLISH LAW FIRM rated in LEGAL 500 EMEA 2019
