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NGL Tax Team received a securing opinion confirming that the Client is entitled to decrease its depreciation rate
The securing opinion that our NGL Tax Team received for our Client confirms that decreasing depreciation rates in order to settle tax losses carried forward and non-deducted interest from loans does not qualify as tax avoidance.
Tax authorities issued an individual interpretation confirming that execution of offset arrangement in Poland is outside of VAT and should be treated as a complex supply. Our Tax Team assisted in preparation of the application for an individual interpretation.
The new tax proposals for 2021 are, in fact, an opportunity to postpone taxation until the moment of distribution of funds from the company, i.e. the so-called “Estonian CIT” and to establish an investment fund in the company.
We are strengthening further our position in the Polish renewable energy sector M&A with another deal closed. We have supported KGAL Group in acquisition of 13MW wind farm project in Ciekocinko (northern Poland).