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WKB Legal Alert | CIT – update and commercial law significant changes in the taxation of partnerships starting on 1 January 2021
On 30 November 2020, the laws on corporate income tax (CIT) were published in the Polish Journal of Laws, introducing changes in the tax rules applicable to partnerships. As of 1 January 2021, limited partnerships will become CIT payers
WKB LEGAL ALERT | Amendment to the building law – crucial changes
The amendment to the Building law adopted by the Parliament by the act of 13 February 2020 was signed by the President of the Republic of Poland on 3 March 2020 and came into force on 19 September 2020 after a six-month vacatio legis period. The most important modifications introduced by the amendment are described in the legal alert.
international
WKB Legal Alert | CIT and Commercial Law – significant changes in the taxation of partnerships starting on 31 May 2021
On 30 September 2020, a draft act amending the laws on corporate income tax (CIT) was published, which will introduce changes in the tax rules applicable to partnerships. It is highly likely that limited partnerships will become CIT payers from the beginning of 2021. General partnerships may also be affected (i.e. they will become CIT payers) if they fail to meet the conditions specified in the new regulations.
international
LEGAL ALERT | KONZERNRECHT – SEIT LANGEM ANGEKÜNDIGTE NOVELLE DES POLNISCHEN GESELLSCHAFTSRECHTS
Am 5. August 2020 wurde die seit langem erwartete Gesetzesvorlage zur Novellierung des polnischen Gesetzbuches für Handelsgesellschaften veröffentlicht, mit der u.a. bisher unbekannte konzernrechtliche Regelungen erstmals den Weg in die polnische Rechtsordnung finden können.
international
WKB Legal Alert | Publication of draft amendments to the commercial companies code
On 5 August 2020, the Government Legislation Centre published the long awaited draft bill amending the Commercial Companies Code and certain other acts. The primary purpose of the proposed amendments is to introduce certain regulations from holdings law (the law on corporate groups) into the Polish law system, which will regulate relationships between parent companies and their subsidiaries such that the interests of all parties concerned are taken into account. Furthermore, the draft bill, as published, provides for a number of amendments strengthening supervisory boards by giving them tools allowing them to  exercise more effective corporate supervision. The bill also sanctions a duty of loyalty of members of a company’s governing bodies.
international
WKB Legal Alert | NOVELLE DES GESETZES ZUR BEKÄMPFUNG VON GELDWÄSCHE UND TERRORISMUSFINANZIERUNG – ACHT WICHTIGSTE ÄNDERUNGEN
Die Novelle des Gesetzes vom 1. März 2018 zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung, mit der die Regelungen der sog. 5. Geldwäsche-Richtlinie (des Europäischen Parlaments und des Rates (EU) 2018/843 vom 30. Mai 2018) in die polnische Rechtsordnung umgesetzt werden, tritt in Kraft.
international
WKB Legal Alert | New law expanding foreign investment controls
Poland adopted a new law on foreign direct investment controls as part of the so-called “Anti-Crisis Shield 4.0”. The law expands the State’s control over M&A transactions in some strategic sectors of the economy. These provisions came into force on 24 July 2020 and they seem to apply to ongoing transactions (those not closed before that date). On 21 July 2020 President of the Office of Competition and Consumer Protection (UOKiK, the authority responsible for application of the new measures) published guidelines concerning new rules on foreign direct investment. Even though the guidelines are not a binding source of law they show how the new measures will be interpreted and adopted.
international
WKB Legal Alert | Amendments to the Act on Counteracting Money Laundering and the Financing of Terrorism – the eight key changes
New amendments to the Act of 1 March 2018 on Counteracting Money Laundering and the Financing of Terrorism, which transpose the provisions of the so-called 5th AML Directive (Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018) into Polish law, will be coming into effect.
international
WKB Legal Alert | EU Company Certificate and EU Digital Power of Attorney – digitisation in commercial company law – draft directive on further expanding of digital tools in the activities of commercial companies
On 29 March 2023, The European Commission adopted a draft Directive on further expanding and upgrading the use of digital tools and processes in company law (the "Directive"). The Directive aims to facilitate cross-border activities of companies by: educing bureaucracy and administrative burdens, in particular when setting up subsidiaries or branches in other Member States of the European Union; and increasing transparency and therefore increasing confidence in cross-border entrepreneurs.
international
WKB Legal Alert | COVID-BEDINGTE AUSSETZUNG DER VERPFLICHTUNG ZUR INSOLVENZANMELDUNG IN POLEN AB 1. JULI 2023
international
WKB acted for Accel-KKR on the Polish aspects of Symfonia acquisition
WKB acted for Accel-KKR, a leading global investment fund focused on software, in respect of the Polish aspects of purchase of majority stake of shares in Symfonia.
WKB Legal Alert | The COVID-related suspension of the bankruptcy filing obligation in Poland levied as of 1 July 2023
On 1 July 2023, the government declared that the state of pandemic is to end in the territory of Poland for the first time since 2020. This will result in the expiration of certain regulations which were introduced to protect businesses against the consequences of disruption to economic life triggered by the COVID pandemic.
international
WKB acted for MB Aerospace in respect of the Polish aspects of the sale of the operational group to Barnes Group
WKB acted for MB Aerospace, which is a portfolio company of Blackstone, in respect of the Polish aspects of the sale of the operational group to Barnes Group for an enterprise value of approximately $740 million.
international
WKB lawyers co-author the latest “The Corporate Governance Review”
The latest edition of the prestigious publication The Corporate Governance Review has just been published, with a chapter on corporate governance regulations in Poland co-authored by WKB lawyers Andrzej Wiercinski, Ph.D., Anna Wojciechowska, LL.M., and Anna Wyrzykowska.
international
WKB Legal Alert | Family foundations – the legislature’s response to family-run businesses – an update
On 22 May 2023, entered into force the Act on family foundations (further, the “Act”). It introduces the institution of a so-called family foundation into the Polish legal order, which is intended to allow for the efficient and effective intergenerational succession of family businesses. The use of family foundations will prevent the excessive partition of family assets or the need to liquidate them after the founder’s death.
international
WKB advised KGAL ESPF 5 Holding on establishing cooperation with Lasuno
WKB lawyers advised KGAL ESPF 5 Holding SARL (KGAL) on establishing cooperation with Lasuno sp. z o.o. (Lasuno). The joint venture partners will develop renewable energy projects, including photovoltaic farms with a capacity exceeding 200 MWp.