Anti-Crisis Shield 3.0 – to be continued

May 13, 2020 Poland

The government's bill on the new aid program as part of anti-crisis regulations (the so-called Anti-Crisis Shield 3.0) is now going to be discussed in the Senate.

SOCIAL SECURITY CONTRIBUTIONS

  • Extension of the exemption – individuals conducting business activity and paying social security contributions will be allowed to benefit from social security contributions’ exemption also when their revenue was higher than 300% of the forecasted average gross monthly salary for 2020 (PLN 15,681).

However, income generated within the business activity in February 2020 cannot exceed PLN 7 000.

REFINANCING UNDER THE SO-CALLED DOWNTIME

  • Extending the list of entities entitled to refinancing under the so-called downtime to self-employed who conducted business activity before 1 April (so far: before 1 February).

INCREASED SUPPORT FOR COMPANIES

  • Recapitalization of the Polish Industrial Development Agency (ARP) of up to PLN 900 million from the Privatization Fund intended to support financially entrepreneurs having problems with financing investment projects.

SUPPORT FOR PEOPLE IN A DIFFICULT SITUATION

  • Increasing the amount of the income criterion entitling to benefit from the alimony fund to PLN 900.
  • Increasing the amount of remuneration exempt from execution by 25% for each family member not generating income and being dependent on the employee.
  • Amendments to the Penal Code aimed at increasing the protection of individuals having financial obligations not related to their business or professional activity. The purpose of this change is to prosecute typical usury crimes, i.e. so-called "payday loans".

SANCTION OF INVALIDITY OF CONTRACT (CIVIL CODE)

  • Transfer of title to residential real estate used by a consumer as security for loan repayment - increasing the protection of individuals concluding loan, credit or other agreements by implementing invalidity of a contract in which individual undertakes to transfer ownership of a real estate property to secure claims not arising from his business or professional activity, and penalizing the demand from the natural person of at least twice the maximum amount of non-interest costs or at least twice the maximum interest rate specified in relevant legislation.

SOLIDARITY CONTRIBUTION

  • Extension of the deadline for payment and declaration of solidarity contribution until 31 May 2020 based on the so-called “voluntary disclosure”. Additionally, there is a possibility of not charging the default interest on solidarity contribution payments after the deadline – however, for this purpose, the Minister of Finance will have to issue a relevant regulation.

"ACTIVATION" OF THE DEADLINES

  • The existing "epidemic" provisions suspending the time limits prescribed of substantive law deadlines (Article 15zzr of COVID-19 Act – the so-called Anti-crisis Shield 1.0), judicial and procedural deadlines (Article 15zzs of Anti-crisis Shield 1.0) will be repealed and after the lapse of 7 days from the entry into force of the current amendment, deadlines will start to run (or continue).

DEMATERIALIZATION OF SHARES

  • Extending the deadlines related to share dematerialization:
    • the deadline for making choice on dematerialization regime within the general meeting of the shareholders and for the first call on submission of share documents was extended until 30 September 2020, i.e. by 3 months;
    • the deadline for the expiry of the paper share documents was extended to 1 March 2021.

"VOD TAX"

  • The Cinematography Act introduces a new public tribute in the form of 1.5% of revenue obtained from fees for access to media services portals (VOD portals) in Poland for the Polish Film Institute (PISF).

PROCESSING BY ELECTRONIC MEANS

  • Complete electronification of transmitting by Social Security Institution (ZUS) information about the balance of insured's account - information will be made available to the insured who has created a profile in ZUS electronic system.
  • At the request of the insured, this information will be also made available in writing.

Please contact us should you wish to know how new regulations may be used by your business most effectively:

Łukasz Bączyk
Head of Tax
E: lbaczyk@asbgroup.eu

Anna Szafraniec
CEE VAT Compliance Manager
E: aszafraniec@asbgroup.eu

Jarosław Szajkowski
Tax Manager - Tax Adviser
E: jszajkowski@asbgroup.eu

Marta Skrodzka
Tax Manager - Tax Adviser
E: mskrodzka@asbgroup.eu

Piotr Szeliga
Tax Manager - Tax Adviser
E: pszeliga@asbgroup.eu

Paweł Jóźwik
Tax Manager - Attorney-at-law
E: pjozwik@asbgroup.eu