The Polish construction industry is facing a cumulative series of unfavourable factors. Companies are struggling with rising material costs, falling investment profitability and payment backlogs. The situation is worsened by difficulties in finding employees, exacerbated by fiscal changes funded by the government. Analysts are warning that a wave of bankruptcies in the industry should be expected. The construction industry's concerns about the disastrous effects of accumulating investments are beginning to be confirmed by data. According to the latest...

The tax system will certainly be beneficial on a macro scale. However, for the smallest companies, including the honest ones, it may result in temporary (let's hope) turbulence. The so-called spilt payment mechanism, in force since the beginning of the month, is already causing such disruptions. And this may be just the beginning. - From July 1, large companies can use the so-called VAT split payment mechanism - Their contractors - sole proprietorships using...

The tax office encourages the use of split payment with the promise of faster VAT refunds, but if taxpayers decide to do so, it is probably for a different reason. Company A, which settles in the split payment system, pays company B PLN 10,000 net for the service plus PLN 2,300 in goods and services tax (VAT). Although the latter does not use this mechanism, the money is transferred separately to its two bank accounts - current and VAT. In such a situation, entrepreneur B, paying an invoice to another contractor...

Split payment is coming into effect for all companies in Poland, mandatory for large companies from 1 July this year, and for all others from the beginning of next year. The Ministry of Finance is also encouraging small and medium-sized enterprises to join the system from July. Accountants throughout Poland confirm that many companies are already preparing for this option. However, PMR Restrukturyzacje SA specialists warn that some entrepreneurs may experience temporary liquidity problems. Split payment,...

Consumer bankruptcy also for those guilty of their situation, for people without assets right away, with a longer time to repay. This could be a breakthrough in debt relief for people with no chance of settling their statute-barred obligations and in the statistics of people taking advantage of such opportunities in Poland. Work on the amendment to the Consumer Bankruptcy Act assumes huge facilities for people who have found themselves in a debt trap - experts explain. The three biggest changes in the Consumer Bankruptcy Act, which operates...

In addition to the length of the proceedings and the lack of financing, the restructuring regulations have another drawback – they do not provide remuneration for managers. A second chance for almost every entrepreneur, and bankruptcy only as a last resort – this is how the restructuring law, which came into force at the beginning of 2016, was supposed to work. What can be seen after more than two years? Although companies are eager to repair, most of such processes end in bankruptcy anyway. Without money, nothing will move Andrzej Głowacki,...

For large and well-known chain stores and popular brands, the time is coming when there is no future without online sales, without connecting channels through omnichannel. Paradoxically, those who are only now entering the world of online sales can take advantage of the latecomer's rent, gaining an immediate advantage over the competition. According to the latest edition of the annual report "Global Powers of Retailing 2018. Transformative change, reinvigorated commerce", prepared by the consulting company Deloitte, despite...

Polish entrepreneurs are convinced that statutory restructuring tools are a solution reserved exclusively for large companies - according to a study conducted by the OBOAK Opinion Research Center on behalf of PMR Restrukturyzacje SA. The opposite and correct opinion is expressed by only one in fifty respondents. Such a high level of unawareness costs the Polish economy billions of zlotys annually. Small entrepreneurs also suffer, often losing not only the company but also...

Buying real estate from a trustee is another way to find an attractively priced apartment, in addition to bailiff auctions. Before making a decision to buy, however, it is worth getting to know the transaction process from the inside out, to find out what the buyer can expect. In the event of a declaration of bankruptcy, the assets of the debtor who is an entrepreneur or consumer become the bankruptcy estate. It consists of all rights and things belonging to it on the day of its declaration, including the debtor's right to...

More than two years have passed since the introduction of key changes to restructuring and bankruptcy law in Poland. Has the mentality of Polish businessmen changed significantly during this time? Are we more effective in saving Polish companies from bankruptcy? Do creditors still primarily use aggressive debt collection, or is dialogue with the debtor an increasingly common alternative? Analysis by restructuring advisors PMR Restrukturyzacje SA. According to data from the Central Economic Information Center...