Events & News

Consequences of violation of the executive’s obligation to act with due care in the light of the new case law of the Supreme Court of the Czech Republic   On 18th September 2019 the Czech Supreme Court issued an important decision (case No. 27 Cdo 844/2018), addressing the issue of the violation of the obligation…

Profit distribution in the light of the current case law of the Supreme Court of the Czech Republic On 27th March 2019 the Czech Supreme Court issued an innovative decision concerning the distribution of profit in a joint stock company (case No. 27 Cdo 3885/2017). In this decision, the Supreme Court has made it clear…

According to the 4th AML Directive, all EU Member States are required to set up registers of beneficial owners which will obtain and hold information on beneficial owners of corporate entities/trusts established under the law of a given country. Registers are one of many changes introduced by the 4th AML Directive, which aim to be…

Special Economic Zones (SEZ) offer a number of facilities and tax preferences for enterprises operating in their area. What tax benefits can the companies operating within them count on? What are SEZ? The concept of SEZ was introduced by the Polish Act of October 20, 1994 on special economic zones. These are areas administratively separated…

This article aims to illustrate the introduction of a tax regime for the Start-up and innovation companies, provided by the Italian Government. The concept of Innovative Start-up consists in companies, also not resident in Italy, which has formal and substantial requirements. In particular, to be named as Innovative Start-up, the company has to assume the…

From January 1, 2019, changes regarding the so-called residential relief, i.e. the provisions of the Polish Personal Income Tax Act, related to tax exemption on income from the gainful disposal (exchange) of real estate, entered into force. The new regulations make it easier to obtain an exemption. How did the residential relief work before the…

This article aims to illustrate the introduction of a tax regime for the Start-up and innovation companies, provided by the Italian Government. The concept of Innovative Start-up consists in companies, also not resident in Italy, which has formal and substantial requirements.   In particular, to be named as Innovative Start-up, the company has to assume…

As part of our external DPO assignments, we often encounter difficulties during the elaboration or evaluation of Privacy Impact Assessments carried out to determine the compliance of personal data processing operations in the context of multicentric clinical trials conducted throughout the European Union. Indeed, we are frequently asked to analyse contracts and information consent forms…

Polish tax authorities confirm that taxpayers have the right to reduce income derived from the so-called private lease (not as part of business operations) by tax deductible expenses, including depreciation write-offs. Real estate leased within the private lease is still a fixed asset. Thus, it can be depreciated if the taxpayer decides to do so.…

Starting from October 13, 2019, the provisions introducing the Central Register of Beneficial Owners will enter into force in Poland, in response to the implementation of the EU Directive on preventing the use of the financial system for money laundering or terrorist financing. Polish commercial law companies entered into the Register of Entrepreneurs of the…

The development of virtual currencies and an increase in the number of transactions related to them can be observed in recent years. Unfortunately, Polish tax law has not kept pace with the development in this field so far, which was expressed by the lack of regulations taking into account the specificity of transactions using cryptocurrencies.…

The Belgian Law of 18 September 2017 (the “Law”) implementing the 4th Anti-Money Laundering Directive of May 2015 (the “4th AML Directive”) has established the Ultimate Beneficial Owners Register (“UBO Register”) in which Belgian companies, non-profit organizations, foundations, trusts and other similar entities have to record their ultimate beneficial owners. The deadline for encoding beneficial…

    Register to attend the free #TELFAwebinar on GDPR’s update: recent experiences from the Netherlands, UK and Germany Speakers: Mark Jansen - Associate partner, Dirkzwager (Netherlands) Dr. Gösta Schindler, Partner, Buse Heberer Fromm (Germany) James Castro-Edwards, Partner, Head of Data Protection, Wedlake Bell (United Kingdom) The three attorneys at law all specializing in the field of privacy will give an update…

The amendment to the provisions of the Polish Personal and Corporate Income Tax Acts has brought a number of obligations imposed on entities making payments such as, among others, dividends, interest, royalties and fees for certain intangible services. These responsibilities include verification if a given payment qualifies for the exemption or application of preferential withholding…

So far, the issue of holding companies conducting real economic activity has not been subject of lively discussions in Poland. Nevertheless, the provisions introduced by the legislator as a weapon to fight tax avoidance, in particular the provisions on controlled foreign companies (CFC) and the new rules for collecting withholding tax, require dotting the i's…

On 21 February, the draft bill of the Legislative Proposal for the modernisation of partnerships (‘draft legislative proposal’) was submitted for consultation. The draft legislative proposal intends to provide a modern, clear and straight forward scheme that, on the one hand facilitates the entrepreneur and, on the other, offers suitable protection to creditors and certainty…

Once Article 14a of the Polish Corporate Income Tax Act went into force, it was uncertain whether this provision applied to situations where a company under liquidation passes on its assets to a shareholder in non-monetary form. Administrative courts were not in agreement either. However, the latest rulings of Polish Supreme Administrative Court seem to…

Export of a work of art, either temporarily or permanently, requires a special permit, provided that certain criteria are met. Failure to receive such permit before exporting is considered a criminal offence and the perpetrator may be subjected to criminal liability. A work of art, cultural object, monument The Polish Act on protection and care…

1 Foreword This article aims to illustrate the introduction of a new tax regime provided by the Italian Government to attract foreigners and Italians in retirement living in foreign countries to move their residence to Southern Italy. 2 The new Italian tax regime for pensioners On the 30th of December, 2018, the Italian Financial Law…

Starting from January 1, 2019 an amendment of Corporate and Personal Income Tax Acts went into force with regards to the so-called tax on commercial real estate. It was then renamed tax on revenue from fixed assets. Until December 31, 2018 it encompassed only owners of commercial and office buildings located in Poland. A group…

Albert Einstein once said that a question pertaining to taxes is too difficult for a mathematician. It should be asked of a philosopher. Unfortunately, the world famous physicist did not take into account that practicing philosophy with reference to this field of law can very easily lead to the omission of a very important principle…