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Polish Deal: Preferences for Holding Companies

4 August 2021
Piotr WYRWA, Wawrzyniec ŻBIKOWSKI
We are going to continue here with the Polish Deal and tax changes planned for 2022. After the regulations offering simplified procedures in the choice of the Estonian CIT and the innovation support package, another noteworthy new option is preferences for holding companies. This proposal seems interesting, but a more careful analysis of the regulations shows that there are many hazards involved when it comes to these new preferences.

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.

The role of company valuation in the process of resource allocation

26 May 2015
Dawid STOLAREK
When planning an enterprise purchase or sale transaction, each of the parties is interested to know how much this enterprise is worth. If both the buyer and the seller are determined to conclude the agreement and their relations are based on mutual trust, they often decide to carry out only one valuation and entrust its preparation to an external and independent consultant. The outcome of such valuation is usually a single value,  achieved according to the fair value measurement standard. A consistent opinion on the value of an enterprise leaves no room for negotiation between the parties to the transaction, which definitely hinders a successful closure of the transaction. What really causes that contemporary market for corporate control is so active and abounds in numerous M&A transactions?

When does a company receive a VAT number?

4 May 2015
Piotr NOWATKOWSKI
The completeness of company registration procedure is of material importance for entrepreneurs wishing to start up their business in Poland. From 1 December 2014, new regulations that are supposed to simplify the registration process of the entity into the tax office and the Statistical Office, came into force. Indeed, from then on, once the company is entered into the register of entrepreneurs of the National Court Register,  it is also entered into the register of taxpayers (receives a NIP) and, at the same time, granted the National Business Registry Number (Polish REGON). Entrepreneurs can finally start operating.

How to understand company valuation

1 March 2015
Dawid STOLAREK
Company valuation is a topic most managers and owners are likely to face at some point in running their large-sized businesses. The study is usually elaborated in connection with a prospective company acquisition/sale transaction, allotment of an organised part of the company into the structures of a new entity, or in relation to conditions imposed by regulations on financial review. These are, of course, only some examples – the list of circumstances that require or simply contribute to preparing a professional company valuation is much longer.

Limited liability company or branch? The entrepreneur's legal form dilemma

1 March 2015
Piotr NOWATKOWSKI
Choosing the right business form is of uttermost importance to every entrepreneur. Therefore, before you make the decision it is advisable to learn about all the resulting consequences. If you happen to be a Polish entrepreneur, the task seems rather simple (at least in theory): you browse the Internet (thousands of posts, but which ones are credible?), check on friends and their experiences, and finally there’s a phone call to the Companies House to check out the mundane side of starting a business (what forms need to be submitted, where to pay your fees and how much?).

Due diligence – a service worth millions

1 March 2015
Bartosz MIŁASZEWSKI
Let's say I purchased a company and... ... not everything is quite as I had assumed, although nobody was trying to cheat me. Does that sound familiar? I fear it does. In my job I work with people who are in charge of deciding whether to acquire another company, and if so – for what price. In the course of negotiation the price is usually established as a multiple of EBIT/EBITDA/net profit. I am personally not a supporter of this method. In my opinion it is much better to evaluate a company using the DCF methods in three scenarios: positive, neutral and negative. But who has time for such things these days? Due to its simplicity the multiple method is gaining many supporters among decision-makers.