Poland Announces Tax Exemption for Young People
Poland provides tax free to attract emigrants home which is
described by Prime Minister Mateusz Morawiecki as Warsaw gigantic loss of people.
The government concerned over the flows of people to the West European
countries as a result of the EU freedom movement. It is estimated that about 1.7 million people
left for Europe for higher wages since 2004. A European Commission analysist
said that emigration has led Poland skills shortages in the construction,
manufacturing, mining, and transport sectors. (TR01/IN/31/Dec/2019)
China to Release New Regulation for Foreign Investment
The Foreign Investment Law will come into effect on January,
1 2020. The regulation embraces three main issues include investment promotion,
investment protection, and investment management. The new regulation thought to be the most
significant development in China’s treatment of foreign investment which is
expected to clarify the field of foreign and domestic firms and eliminate inconsistancies in the enforcement of laws. Briefly some of the new regulations set out as follow: 1. The state
will not expropriate foreign investments. 2. The capital contributions, profits
and capital gains, intellectual
property rights royalties, asset disposal proceeds, indemnity or compensation
and liquidation proceeds received in the PRC according to law may be freely
transmitted inward and outward in accordance with the law, denominated in
Renminbi or foreign currencies (Article 21). 3. The intellectual property
rights of foreign investors and FIEs will be protected in accordance with the
law and legal liability will be pursued for any infringement of intellectual
property rights. 4. Administrative organs and their staff will be bound by
non-disclosure obligations with respect to business secrets learned during the
performance of their duties
5. When formulating normative documents concerning foreign investment, unless otherwise provided for by laws and administrative regulations, all levels of government shall not impair or reduce the legitimate rights and interests of FIEs or increase their obligations and shall not set market access and exit barriers, or interfere in or affect the normal production and operation activities of FIEs (Article 24). 6. Local governments and their relevant departments must abide by policy commitments to and contracts with foreign investors and FIEs made according to the law (Article 25). If the local government needs to amend its contractual undertaking because of changes in national policies, it should compensate the loss of the foreign investor. 7. The state will establish a complaint mechanism for FIEs, coordinate and improve major policy measures for handling FIEs or their foreign investors’ complaints, and promptly address problems reported by FIEs or their foreign investors. (TR02/CH/31/Dec/2019)
