Michał Górecki
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Share exchanges — the dispute over tax neutrality
The tax exemption for share exchanges, set out in Polish law in Article 24(8a) of the Personal Income Tax Act and Article 12(4d) of the Corporate Income Tax Act respectively, perfectly illustrates a situation in which the way a transaction is carried out…
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Sand Hill Road — in the land of the American dream
Sand Hill Road and the history of venture capital: an essay on the connections between technology, entrepreneurship and capital, with a correction to the account of Intel’s founding.
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Extending management board liability for an insolvent company’s debts
In resolution III CZP 65/17, the Supreme Court addressed management board members’ liability for the debts of a company entirely without funds that nevertheless incurs new obligations. How will the latest case law affect decisions taken by…
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Employee share options — are they worthwhile?
Feeling like a co-owner changes a great deal. It adds motivation and strengthens responsibility for the outcome of one’s work. It is hard to imagine a company that has not at least briefly considered some form of management or employee options. In the case of…
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Business angels as a source of smart money
A business angel is not ‘An Angel in Kraków’ :). Unfortunately, the Polish translation of ‘angel investor’ has acquired some pejorative connotations while also sounding somewhat high-flown. How far does it reflect…
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VAT due diligence — checking counterparties
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Startups for everyone — DGP event in May 2017
Archive image: What is a startup and why is it for everyone? conference. The file is absent from the supplied copy. Original image address
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Can VAT on CSR expenditure be deducted?
Expenditure on public-benefit activities is unrelated to a business’s taxable activities and confers no right to deduct VAT. That was the Kraków Regional Administrative Court’s conclusion on 29 March 2017, I SA/Kr 92/17. The judgment is…
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A management board member’s conviction and company representation
A board member’s KRS entry alone does not settle every issue of representation. A statutory disqualification and the circumstances of the particular act may matter.
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The difficult position of a minority shareholder
Sooner or later, everyone makes a spontaneous, ill-considered decision. An impulse purchase of a chocolate bar at the checkout probably does little harm. But becoming a minority shareholder in a Polish limited liability company may have consequences…