Entries from June 2015

An advisor’s role in transactions

29 June 2015

Bartosz MIŁASZEWSKI

Since I started providing transaction services, in other words advising Clients in purchase and sales transactions as well as enterprise mergers and acquisitions, one question has been constantly on my mind: what is truly an advisor’s role in a transaction? What is my role and what is the role of the other party’s advisor? The answer is pretty clear if a Client commissions RSM to sell their company or to buy one – in such situation, our role is limited to negotiating best price and securing the Client’s interests in agreements. All the actions taken are to satisfy the highest imperative goal „I want to sell” or „ I want to buy”. However, sometimes the imperative “I want to sell/buy” is not as strong as the mentioned “want”. We often hear our Clients saying “I could” and not “I must”, “I would like” and not “I want to”.

Invoice correction: correcting revenue and costs. A chance for a „wake-up call”.

22 June 2015

Tomasz BEGER

As it usually happens with changes introduced into the tax law, on the quiet and through the back door a significant change is made as for the moment of including the effects of the issued (or received) invoice correction in corporate income tax/personal income tax calculation. Why is this moment so crucial?

ISAs in Poland – will they change anything?

15 June 2015

Marek TOMCZYK

Introduction of International Auditing Standards (hereinafter: ISAs) in Poland offers a huge opportunity of improving the quality of audit services, and thereby the quality of financial statements themselves for the benefit of all interested parties (management boards, shareholders, prospective investors and statutory auditors).

Poland through the eyes of foreign investors

9 June 2015

Piotr NOWATKOWSKI

In today’s post I would like to share my impressions from a meeting with representatives of A+network Association, in which I participated on 17 April this year in Bologna. The meeting was devoted to Poland and opportunities the country gives to foreign investors, in particular to Italian businesspeople.

Transfer Pricing – is it worth preparing TP documentation on an ongoing basis?

1 June 2015

Sylwia KOZŁOWSKA

Undoubtedly, management of each related entity has to answer a question of whether to prepare tax documentation or choose to rely on luck instead, and a chance of not being summoned by the tax office to submit it. Or, if you have already decided to prepare the documentation, when to do it – during the tax year or after it finishes?

Currently, almost each and every income tax control requires submitting TP documentation. One of the most committed errors between 1 January 2013 and 1 July 2014, in the case of reduction of tax liabilities exceeding PLN 1,000, was lack of TP documentation[1]. This year, tax documentation will also constitute one of tax control priorities (vide The National Action Plan of Tax Administration for 2015).