Locked content Poland suspends retail tax

The Ministry of Finance has decided to suspend its retail tax following the EU’s step to launch a probe into the levy and will make corrections to a 2017 budget bill draft. The Ministry will also present a new version of a bill on the retail tax, which will be introduced in January 2017. The&#...

Locked content 5,000 sqm leased at Galeria Północna

Real estate developer Global Trade Center that announced that it has leased 5,000 sqm in commercial center Galeria Północna, which is now 75 percent leased. Sephora, Douglas, Yes, Puma and Venezia, among others, have joined Cinema City, LPP Group, Carrefour and H&M as lessees. Earlier, the compa...

Four bidders for Allegro – Reuters

South Africa’s Naspers is set to receive at least four bids for Allegro in a deal that could value Eastern Europe’s number 1 auction website at up to $2.2 billion, sources familiar with the talks told Reuters.

Locked content BGK grants PLN 31.86 bln ‘de minimis’ guarantees

Poland’s state-owned lender BGK has granted PLN 31.86 billion in guarantees for loans worth some PLN 56.25 billion issued to SMEs as of end-August under the state program of ‘de minimis’ credit guarantees, the bank said. As many as 112,900 SMEs took loans under the program. Firms c...

Locked content UOKiK clears OT Logistics’ takeovers

The anti-monopoly watchdog UOKiK has cleared a deal signed by Polish inland shipping operator OT Logistics to acquire a 100 percent stake in licensed railway operator STK Group for PLN 29.7 million and an 80 percent stake in Kolej Bałtycka for PLN 3.4 million. At the same time, STK Group will acquir...

Locked content August budget deficit the lowest in 7 years

The budget deficit amounted to PLN 14.9 billion at the end of August 2016. It stood at 27.3 percent of this year’s budget deficit plan, the Ministry of Finance announced. It is therefore lower than the planned PLN 29.24 billion. The August deficit was PLN 11 billion lower than it was in August...

Locked content Retail sales and industrial output up in VIII

The volume of retail sales in Poland grew by 5.6 percent year-on-year in August. In month-on-month terms, retail trade recorded a grew by 0.8 percent, the Central Statistical Office (GUS) reported on Thursday. GUS also informed that Poland’s industrial production increased by 7.5 percent year-on-yea...

Locked content Energy Ministry: 1 mln electric cars by 2025

The Energy Ministry has accepted a draft project, the Electro Mobility Development Program, according to which one million electric cars will cruise the roads of Poland by 2025. The document will be a subject of public consultations. The proposed solutions aim to increase the energy security of the ...

Locked content Poland supports free trade deal with Canada

Deputy Development Ministry Radosław Domagalski said that Poland would support an EU-Canada Comprehensive Economic and Trade Agreement (CETA).  He added that the deal ratification would have to be done by EU member states’ parliaments. Domagalski said that all ministries approved the deal at t...

EU opens investigation into Poland’s retail tax

The European Commission has opened an in-depth investigation into a Polish tax on the retail sector and has issued an injunction, requiring Poland to suspend the application of the tax until the Commission has concluded its assessment.