On 7 July 2016 and 22 July 2016, the Polish Parliament adopted two separate acts providing for amendments to the Act of 10 April 1997 – Energy Law(“EL”), i.e.:
- the bill of amendment to act on tax on goods and services and selected other acts (hereinafter: “VAT Amendments”); and
- the bill of amendments to the act of 10 April 1997 – Energy Law and selected other acts (hereinafter the“EL Amendments”).
While the VAT Amendments has been already signed by the President and promulgated with effect as of 1 August 2016, the EL Amendments is now awaiting for signature of the President which should take place by early August 2016.
The primary objectives of the aforementioned legislation are to:
- enhance transparency and integrity of the markets related to the liquid and gaseous fuels, and
- limit VAT carousels related to trade in liquid fuels,
- mitigate certain barriers to LNG supplies to the LNG terminal in Świnoujście(“Terminal”) which started its commercial operations in June 2016.
