Tax & Legal Highlights for Real Estate – June 2020
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1. The Parliament adopted The act on surcharges to interest rate to bank loans
On 19 June 2020 the Parliament adopted The act on surcharges to interest rate to bank loans granted to provide financial liquidity to entrepreneurs affected by COVID-19 effects and on the simplified procedure for the approval of the arrangement in connection with COVID-19, which comprises the next phase of the Anti-Crisis Shield (Shield 4.0). It contains changes, inter alia, in matters related to annual perpetual usufruct fees. Under the new regulations, the perpetual usufructuary of the real estate owned by the State Treasury, whose economic turnover has decreased as a result of the COVID-19 virus pandemic, will pay the decreased annual perpetual usufruct fee (once the statutory conditions are met and taking into consideration the number of days in the year in which the epidemic hazard and the state of the epidemic were in force). Analogous solutions are envisaged to the benefit of entrepreneurs who are tenants, lessees or users of the land owned by the State Treasury. Under Shield 4.0, the deadline for payment of the annual perpetual usufruct fee was postponed to 31 January 2021. The act is presented to the President for signature.
2. An easier access to information contained in the central land and mortgage registers database
On 8 June 2020, the Minister of Justice published a draft act amending the Act dated 6 July 1982 on land and mortgage registers and mortgage. The purpose of the draft is to grant the Agricultural Social Insurance Fund (pol. Kasa Rolniczego Ubezpieczenia Społecznego) and the Chief Commandant Police an easier access to information contained in the central land and mortgage registers database, i.e. the Internet portal maintained by the Ministry of Justice, which enables browsing through land and mortgage registers. Currently, each natural person has access to the land and mortgage register of real property provided that the entire land and mortgage register number of the given property will be given. However, selected entities may search the land and mortgage registers and browse their content without the need to enter its number. It means in practice that both the Agricultural Social Insurance Fund and the Chief Commandant Police will be able to access the land and mortgage register by using personal identification number (pol. PESEL) of owner of a given real property or by entering its address.
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