Message from our friend Dr Sergey Lyalin, creator of the leading C&E Europe bonds information agency Cbonds.info
Given the fact that the bonds market in Warsaw seems to have been underdeveloped in comparison to equities, especially against the backdrop of other financial centres, we welcome this initiative by Dr Lyalin’s dynamic information agency.
Dear Quoracy.com subscribers,
Cbonds information agency announces the opening of a “Poland” section on Cbonds.Info website. The new section is dedicated to the Polish bond market. Address of the new section – http://www.cbonds.info/pl/eng/ ; information is available in English. We plan to launch the version of the section in Polish before the end of 2011.
Information on the Polish bond market includes news, a database of bond issues by Polish issuers including government, corporate and municipal bonds. The bond database includes both domestic and Eurobond issues. The section will also contain bond quotes in trading systems WSE and BondSpot, eurobond quotes in the OTC market, analytics prepared by Polish and international investment banks, key indices and market indicators, calendar of events (placements, payment coupons, redemptions), and a list of Polish investment banks. Information on quotes and indices contains the latest values, historical data archive, and convenient graphical features for data visualization and charting. For most types of tabulated data will be exportable to Excel.
Information in the “Poland” section is structured and displayed in a manner similar to other Cbonds sections, which will make it easier for regular users of Cbonds website to work with Polish market data. All information in “Poland” section is currently available in free access.
We expect that the launch of “Poland” section will encourage growing interest in the Polish bond market among both Polish and foreign investors. Cbonds welcomes any suggestions, proposals and ideas concerning development of our “Poland” section. We will do our best to make it a reliable, prompt and objective source of information on the Polish bond market.
Sergey Lyalin, PhD., CEO of Cbonds Ltd., tel/fax +7 812 336-97-21 *108
Business-Centre NOBEL, Pirogovskaya nab., d. 21, lit. A, Saint-Petersburg, 194044, Russia
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2010 statutory filings of a company’s annual accounts with the company’s court of registration (“K RS”) and tax office – TGC Legal Alert
TGC Corporate Lawyers in Poland offer the following advice about annual filings of financial statements.
Dear Quoracy.com subscribers,
You may be aware that a Polish company’s management board is required to convene an annual general meeting of shareholders (“AGM”) within six months of the company’s financial year end. If your financial year ended on 31 December 2010, the deadline for submitting your Corporate Income Tax Declaration (CIT-8) with the tax office expires on 31 March 2011 and the deadline for holding your AGM is 30 June 2011.
1. AGM documentation
The documentation for the AGM includes:
- Financial statements;
- Directors’ report on the activities of the company for the financial year, which is subject to approval by the shareholders of the company;
- Supervisory board report (if applicable);
- Minutes of meeting of the management board;
- Minutes of meeting of the supervisory board (if applicable);
- Minutes of the AGM; and
- Application to the KRS for registration of the filing of the annual accounts of the company.
2. Audit requirements
Do you need an audit? The requirements to have an audit are as follows:
- Banks, insurance companies and joint stock companies (S.A.) are all required to have an annual audit.
- Limited liability companies (Sp. z o.o.) are required to have an audit for 2010 if they exceeded two or more of the following criteria at 31 December 2009:
- Annual average number of employees were 50 or more;
- Total assets at the end of the financial year were 2.5 million euro or more; and
- Net sales plus financial income for the financial year were 5 million euro or more.
If your company had an audit please remember that it is also obliged to publish its fianancial statements in “Monitor Polski B” gazette.
3. Notifying the Company’s court of registration
Within 15 days of holding the AGM, the company’s management board is obliged to file the annual accounts, the directors’ report and the AGM minutes with the KRS.
4. Notifying the relevant tax office
The AGM minutes will also have to be filed with the tax office handling the tax matters of the company within 10 days of holding the AGM.
5. Next steps
If you wish to receive any further information on this matter or a cost estimate or require any assistance in relation to your AGM please contact:
T: +48 22 653 3644
Head of Company Department
T: +48 22 653 3667
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There’s still time to make tomorrow’s Polish language conference in the Stock Echange builing in Warsaw on the new “Respect” Warsaw Stock Market Index. They’re going to talk about which companies will make up that index and the reporting and governance stringencies that the participating companies will have to adhere to.
See the pdf below for more details about it. I’ll just repeat that the conference is apparently just in Polish – they didn’t make mention of any translation facilities, but I know that a lot of my readers are bilingual and if not please pass it on to a Polish speaking colleague who should find out about this.
(See attached file: Program konferencji RESPECT_25stycznia2011.pdf)
Szef Zespołu Marketingu/Marketing Manager
Biuro Komunikacji Marketingowej/Marketing Communication Office
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