Tomasz Cichocki

64.3(!)% are the US components. Bureau of Industry and Security-U.S. Department of Commerce shall be doing a better job in labeling dual-purpose components and regulating their export to Russia through 3rd countries. EY PwC KPMG US Deloitte you are seeing your clients in this list. Advise them - they and their distributors shall be doing a better job in knowing where the products are exported to. In a long run the impact on their brand will be enormous. There is no worse advertisement than a photo of your chip covered in blood of a child murdered by russians. For my assurance colleagues out there - we are talking about potential material impairment of intangibles here for a brand that is unable to manage this risk and has no proper controls in place.

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Many of you are helping Ukraine while being abroad and knowing responsible people on the ground. What typical problems have you faced when providing aid and implementing projects where funds were allocated, and reports and targeted use were expected? From various donors, colleagues from different local funds hear the following common wishes: 📢 More transparent and frequent communication, with a systematic approach to sharing information from the field 📢Cultural barriers and fragmented sentences that are not always clear in the overall context 📢 Lack of proper gratitude and increasing requests and amounts in geometric progression 📢 Frequent changes in participants on the ground What are your experiences? Please share your examples.

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📢I had the pleasure, together with Maciej Cwikiewicz and Grzegorz C. in Puls Biznesu, of discussing the chances of Polish #AI companies to obtain funding from #VCs and, more broadly, to build a new #flywheel for our economy. According to a recent Dealroom.co's report, the AI Core startups received 45% of all VC investment in the CEE region. This is an opportunity we cannot miss!💥 My key theses: 📌At Movens Capital, we are investing in AI-enabled companies starting in 2019 based on our previous startup experience. They distinguish the #CEE region. By 2023, more than 1,000 AI/ML startups had emerged here, raising more than USD 4 billion in funding. 📌We see a great opportunity for Polish AI startups to succeed due to their unique technological talent. Building a sustainable #competitiveadvantage is key, as illustrated by ElevenLabs, but also examples from our portfolio, such as Talkie.ai or SKY ENGINE AI. 📌 The current stagnation in the VC sector has led to lower startup valuations, benefiting funds in executing transactions. In Poland, VC fund conditions will remain favorable in the coming years, but careful selection of AI companies is necessary, as most new entities have little chance of building lasting entry barriers. Thank you, Anna Bełcik, for taking on an important topic and inviting us to talk. 👉 https://lnkd.in/dxtGvvD7

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Yesterday, I was surprised by the shape of Czech progressive taxation spread across income levels: https://lnkd.in/eerqCY82 I went to check how it was versus last year. Below is comparison. It is clearly visible the effect mostly on 3x-4x income population with diminishing impact after 4x mark. 2023 still included the solidarity tax of extra 8% on income above 4x wage, but with the conjunction of ceiling on social tax, this distribution seems more systematic/fair(?). #Taxation #Czechia #Strategy

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Ukrainian Energy Sector conference at KIEF TALKS. Participants present: UA government officials, energy sector SOEs and private business including Volodymyr Kudrytskyi ,Ihor Tynnyi and others. Two main conclusions I drew. First: the winter will be rough. Significantly rougher compared the the previous one. russians destroyed almost half of Ukraine's power generation capacity. Large power generating units proved to be relatively easy targets. It is not possible now and will hardly be possible in the nearest future to defend all or most of large power generating units with Patriots or SAMP/Ts. Restoring the lost capacities takes time and huge money. There is no clear understanding what level of power generation energy sector ( SOEs and private) will manage to restore / keep operational by this winter and on. Yes, we can see very robust actions by UA government and our allies to improve the resilience of the energy sector. Nevertheless, the outcome of this battle is far from clear. Second: probably the best way to drastically boost Ukraine's energy resilience is to agressively develop decentralized power generation. Including renewables. Instead of dozens of large units , we need thousands of small ones. Mostly privately funded and owned. With reliable investment return scenarios and transparant rules of the game. Yes , private energy sector operators ( renewable ones , first of all) have a pretty long list of complaints to the government's handling of the market. They say the playground is not friendly and predictable enough. But , at least for the period of active warfare, decentralized power generation seems much better option for Ukraine, taking into account the current interception rate of UA forces: 95 % of drone interception and around 70 % of misiles. The UA government has already announced a number of steps to boost private investments in small energy generation. Hopefully, the all players will be moving fast.

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Business has never been sentimental. The closing of branches of foreign companies in Poland is the result of many factors. A high minimum wage combined with energy costs is just one of the important elements. The fact that Poland has become a frontline state also matters. Negative for some, positive for others. It is also worth bearing in mind that companies that have been in Poland for years are moving out. In the case of these companies, the invested capital was paid back with interest, and a decline in profits could threaten the profitability of the investment. Social protests and supply chain blockades are also significant. In the context of the latter, from the investors' perspective, Poland appears to be a weak country, susceptible to populist warlords and easily descending into chaos. This situation should slowly change for the better. I think that the new authorities in our country will understand that protests by "disappointed" and "lost" groups should not destabilize the country's economy. The inflow of funds from KPO (EU) should stimulate the economy and, consequently, internal demand. Unfortunately, the minimum wage cannot be reduced, which is a pity. The challenge for Poland is undoubtedly the energy transformation and let's hope that the blocking of the development of renewable energy that we have been dealing with over the last 8 years will finally come to an end. Locating defense industry plants in our country may also be an opportunity. You don't have to worry about dismissed employees of Western companies. 95% of them will find a job very quickly, and severance pay will help them through the transition period. A very interesting issue will be the issue of lifting vocational and technical education out of the collapse and learning foreign languages among the young generation. Today, especially in the group of young men from smaller towns, there are deficiencies in education, lack of language skills, poor opportunities on the local labor market, and little chance of building a relationship with better-educated women in this age group. Unfortunately, this group becomes an easy target for populists. #poland #economy https://lnkd.in/dWge-aBJ

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Btw this video was made by using AI. (Kaiber)

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https://lnkd.in/gZT9zqt6 kind has briefed on how to enable polish and korean cooperation to work together for ukraine reconstruction... poland is facing an once-in-a-century opportunity and korea can definitely be the partner to push forward the collaboration agenda together.

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There is currently big debate in Poland regarding relation between so called news media and global platforms. I rarely comment on such topics, but this one is close to my heart. Feel free to grill me. I believe most people in this debate are using different definitions to describe what is happening. There are three concepts: media, publishers, journalists. Via Wikipedia: 1. Media (communication) - tools used to convey information or data. 2. Publisher - an organization or person that disseminates content to the public. 3. Journalist - a person who gathers information in the form of text, sound, or images, processes it into a form worth conveying, and disseminates it publicly. This is called journalism. Traditionally, media mainly referred to the press, meaning print. A technical tool. In this press (newspapers, magazines, yellow press), publishers disseminated many things, including journalism, but also other content like sports results, advertisements, stock market data, and even pornography or celebrity photos. These things were often more important to the audience than journalism. This did not make the press something noble (or better) than other media, like TV or radio. Media are just tools. Also, publishers themselves did not necessarily have noble motives related to journalism. It was believed that to be a good commercial publisher, it was worth having good journalism - in my opinion, mainly because it allowed for higher advertising rates in media used by the publisher (thus increasing the value of the distribution tool). In the opinion of others, it was about attracting attention. Some believe it was done for the public good. This belief, as the new medium - the internet - showed up, turned out to be false. Advertisements can be sold just as expensively without quality journalism (you just need good data). Publishers can, but do not have to, sponsor so-called good content or journalism. Publishers can make big bucks without even producing so called content. It also turned out that journalists do not need the help of commercial media to create valuable information and disseminate it (e.g., Oko Press). What we see today is, in my opinion, a mix-up. Commercial publishers (mostly profit-oriented companies) are trying to defend their outdated tools (media) using the argument of defending journalism (public mission). Nowadays, however, these three things are not connected. I believe that journalism in the free commercial model (i.e., open online) has no future. Future lies with paid media (e.g., Oko Press) or media sustained by public funds and taxation of global media corporations (Google and similar). What I am not addressing here is the issue of the fourth estate, i.e., the control function traditionally understood as the press (implicitly - hard journalism, including investigative journalism) towards democratic power and its role in the fight against autocratic regimes. This is a political problem, not a business one.

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This event is dedicated to Ukrainian entrepreneurs and investors who are interested in doing business in Poland, or who already have a presence here. You will learn about the main aspects connected with engaging individuals based on different titles in various circumstances. We will present the perspective of a Company and briefly the perspective of individuals. What is more, you will also have a chance to get updated on the immigration issues important for the individuals coming to Poland from Ukraine. Agenda: 1. Personal income tax Company's perspective: 🔹 employing creative employees (possibility of applying 50% costs of earnings when calculating payroll) – characteristics of the structure and conditions of implementation, 🔹 cooperation with natural persons running their own business activity (B2B) – benefits, risks and good practices, 🔹 engaging and remunerating managerial staff – dual structures (several legal titles in parallel), motivational programs, various forms of involvement (appointment, management contract, etc.), 🔹 remote work and workation – tax aspects. Individuals' perspective 🔹 tax residency status, 🔹 tax settlement for selected sources of income 2. Immigration issues 🔹 Temporary protection status for Ukrainian citizens fleeing the war 🔹 Access to the local labor market 🔹 Employment of foreigners in Poland – general comments 🔗 Register now. See you there! #PolishTaxes #PolishTaxLaw #BusinessExpansion #PolandInvestment #Ukraine #DoingBusinessInPoland

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russian Think Tank sees decline in Russian economy. Russian economy faces challenges where solutions are needed "here and now" according to think tank. russia's economy is challenged on several points. This appears from a report from a russian think tank. The report points to several problems in the russian economy. Among other things, the report concludes that russia's industrial production is stagnating and that the country's exports of goods continue to shrink. According to Reuters, the think tank - called the Center for Macroeconomic Analysis and Short-Term Forecasting - is close to the Russian government. The report points to long-term problems for the russian economy and at the same time states that solutions are needed 'here and now'. The think tank also warns that there is a shortage of both raw materials and components. Despite russia's ongoing war in Ukraine, which has been going on for over two years, the country's economic performance last year exceeded the expectations of many analysts. But in January and February, seasonally adjusted consumer activity fell by 0.2 percentage points, according to the think tank's data. In addition, investment activity fell for the fourth consecutive month in February. Among other things, this has had the consequence that the russian state today spends less money than before on infrastructure and building housing. Economically, russia - with President Vladimir Putin at the helm - has been challenged for the past two years by foreign sanctions as a result of the invasion of Ukraine. Many Western companies have also withdrawn from the Russian market. As a result of Western sanctions, russia has imposed import restrictions, but this has helped create internal problems in russia. Because several companies in the country are largely dependent on being supplied with raw materials and components, says the think tank. It also indicates that Russia can no longer rely on revenues from the energy sector and cheap labor for economic growth. This is because sanctions have been introduced against hydrocarbons. In addition, there is a shortage of employees. Instead, a solution is to increase productivity through further automation and greater use of digital technology and robots, the report states. #economy #russia #Ukraine #NATO #EU #war #politics #stopbusinessinrussia #sanctions Source/translated from: https://lnkd.in/d5tEC--y

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Russia agrees with J.D. Vance: - That's what we need! Trump's vice-presidential candidate is right that US aid to Ukraine must be reduced, says Russian minister. russia is ready to cooperate with any american leader who is willing to enter into a "reasonable and mutually respectful dialogue", says the country's foreign minister, sergej lavrov. At the same time, the Minister of Foreign Affairs presents J.D. Vance's - who is Donald Trump's newly appointed vice-presidential candidate - position on Ukraine is welcome. J. D. Vance has been critical of the US's economic and military support for the country. He wants to cut aid and has said Ukraine has no chance of regaining the areas Russia has taken over since the February 2022 invasion. And that is a perspective that Russia appreciates. - He (J.D. Vance, ed.) is in favor of peace, he is in favor of ending the support that is being given. We can only welcome this, because this is what we need - to stop pumping Ukraine full of weapons, and then the war will stop, says Sergey Lavrov. ------- Naturally russia do support a candidate who will not help Ukraine defend themselves, a candidate who was one of the most active in trying to block the latest aid package for Ukraine and a person who stated "I don't really care what happens to Ukraine one way or the other,”..... Can you imagine this coming from Reagan or Bush?.... no f..king way... #JDWance #russia #USelections #elections #politics #NATO #EU #US #POTUS #slavaukraini #USsenate #UScongress #RepublicanParty #Democrats #Ukraine #Democracy Source: https://lnkd.in/gJa7jgP9

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Great opportunity for US Investors and US companies already present in Poland! ➡️ Register to this exclusive webcast where we delve into the key issues surrounding Corporate Income Tax (CIT) and Transfer Pricing (TP) for US investors conducting business in Poland. Join us as we unravel the complexities and provide valuable insights to help you navigate the Polish market seamlessly. Our expert panel will discuss crucial topics, share actionable strategies, and answer your burning questions. 📅 Date: June 11, 2024 ⏰ Time: 10:00 AM [CEST] 🔗 Register here: https://deloi.tt/3UGlpQ4 Take your business ventures to the next level and ensure compliance while maximizing opportunities in Poland. 👉 Don't miss this chance to gain a competitive edge in the market! Register now and secure your spot. See you there! #PolishTaxes #PolishTaxLaw #BusinessExpansion #PolandInvestment #CIT #TransferPricing #UScompanies #USinvestors

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HAYS MID-YEAR SALARY REPORT 2024 IS OUT! Check on expectations vs. reality of the Czech labour market for the year among employers and employees! #HaysSalaryGuide #LabourMarketTrends #HaysHRAdvisory

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Ongoing war in Ukraine is business of every conscious human. Today it is in our country, in 10 years - might be in your country. Don't think that your ignorance of what happening just 1.5-2k km away from your home will never become closer. Read 1984 by Jorge Orwell, this book explains very well what can happen, if people will not gather together against russian terror.

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🔹 How do companies continue to run their businesses in Ukraine? 🔹 Did the war have a significant impact on the business of a Ukrainian subsidiary? During the webinar, you will learn about the most important issues and developments in the Ukrainian tax legislation and the actual approach of the Ukrainian tax authorities. The event is designed for: ◾️ Polish firms that are considering expanding their business to Ukraine or already run a business in Ukraine, ◾️ people who have to deal with Ukrainian tax issues (e.g. in shared service centers seeking to ensure tax compliance of Ukrainian businesses). The event will feature a presentation by Deloitte Ukraine tax experts, who will share their insights and experience on: 〰️ Ukraine’s economy and tax environment. 〰️ Transfer pricing: losses incurred during the war. 〰️ “Deemed dividends” on transfer pricing adjustments. 〰️ Foreign currency transfers. 〰️ Authorized economic operator (AEO). 〰️ Electronic document management (EDM). 〰️ Standard audit file – Tax (SAF-T). To register for this free webinar, please fill in an online form ⬇️ #Ukraine #DoingBusinessInUkraine #SAFT #tax

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Your essential guidebook to hiring tech talent in Poland. Out now and for free!

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How much do you have to pay SAP specialists? Sign up for the latest Awareson report "SAP labour market in Poland. Analysis and forecasts 2024-2026." In the report, you will find: ✓ detailed rates for consultants and developers broken down by experience and modules, ✓ expectations regarding salary increases, ✓ turnover rate, motivation for job change, and staying longer in the company, ✓ demographic data and development areas, ✓ competitors' plans.

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