Measuring An Overbite

Cash registers doctors and lawyers from May 1

May 1 enter into force the provisions mandating registration with the turnover of cash registers, among others in doctors' offices and law firms. The finance ministry estimates that, therefore, about 150 thousand. taxpayers should run the cash registers.

"We estimate that due to the fact that some taxpayers have more than one cash register, the amount of new cash will be approximately 300 thousand." - PAP said Finance Ministry spokeswoman Margaret Birch.

informed that this group of taxpayers, who since May 1 will be required to have a cash register and record turnover through it, are businesses providing services including: legal (eg solicitors and barristers), funeral, secretarial, translation in health and social care, recruitment of personnel, accounting and accounting or market research and public opinion.

Birch added that the finance minister imposed the regulation to have a cash register and the taxpayers who are billed on the basis of the so-called. tax card (eg, machinists), if their turnover will be higher than 40 thousand. respectively.

"Until the excess of the amount they are exempted from the accounting trading on the cash registrar. For new taxpayers who begin such activities, the turnover resulting in the need to fund the installation is less, because of only 20 thousand. Zł" - spokeswoman stressed.

Taxpayers who need to install the cash register are entitled to special allowance - they can ask the tax office for refund of the purchase money. It's about 90 percent. cash prices (excluding VAT), but not more than 700 zł.

"To take advantage of the tax, the taxpayer must first submit to the tax office that will use the money and give the address where it will be installed. We should also have a record of the amount paid for the device" - explains Birch. Furthermore, the taxpayer must make with the help of technicians, so. fiscalization money. Please inform the tax authority no later than 7 days from the date of their fiscal policy.

"All of these activities should take place before the cash will be used, or in the case of taxpayers who are already activities - prior to May 1. The entrepreneur who does not do this in time, lose the right to benefit from relief "-" a spokeswoman.

added that entrepreneurs who are required to record turnover for the fiscal cash register and issue tax receipts to consumers, and do not do this, run the risk of proceeding an offense or crime Treasury bills. Birch ensure that each case is treated individually.

spokeswoman announced that in the case of an offense punishable by a taxpayer in the amount of one-tenth to dwustukrotności minimum wage, that is, from 138.4 zł to more than 27.7 thousand. zł. "If no record is classified as a criminal penal-fiscal, the penalties are higher. Code (Penal - PAP) provides for both fines and restriction of liberty and deprivation of liberty" - warns Birch.

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Polish Zloty Gains as Central Bank Is 'Hawkish' After Rate Rise

The gold advanced to the Strongest in almost a week after Poland's central bank raised interest rates for the second time this year and signaled borrowing costs May climb further.

Gold - U.S. Dollar

The zloty appreciated 0.5 percent to 4.0036 per euro as of 5:11 p.m. in Warsaw, the strongest intraday level since March 30. It had the second-steepest gain among more than 20 emerging market currencies tracked by Bloomberg. Six-month forward rate agreements that investors use to bet on future interest rate moves rose 3 basis points to 4.96 percent, the highest level in six weeks.

It’s too early to tell if Poland is nearing the end of its monetary tightening cycle, Governor Marek Belka said at a news conference in Warsaw today, and there is nothing “predetermined” about the speed and scope of possible rate increases. The central bank is continuing its tightening cycle as surging commodity prices risk keeping inflation high for a sustained period, it said in an e-mailed statement.

“The market is reading this statement as hawkish,” said Jan Koprowski, a currency trader at BNP Paribas SA in Warsaw. “Earlier they held back from talking about future rate increases and now that’s changed.”

Today’s quarter-percentage point increase lifted Poland’s benchmark seven-day rate to 4 percent, matching predictions from 22 of 31 economists surveyed by Bloomberg.

Policy makers across the globe are struggling to contain accelerating inflation, driven by surging food and fuel prices. Since March, when the Narodowy Bank Polski refrained from raising interest rates, the inflation rate remained above the bank’s 2.5 percent target for a fifth month, while the rate of consumer-price increases expected to Consumers in the next 12 months posted its biggest one-month jump in a decade.

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Estonia: an independent country with gas to łupkowemu and crude

energy independence łupkom Estonia owes the oil. And now the Tallinn is in the vanguard of the next energy revolution, we are preparing Americans who move to the oil industry methods of extracting gas from shale.

- It might be another revolution. Already gave the first concessions to search for such deposits, - admitted Paul improvement of the Polish Geological Institute, where two weeks ago at a conference at the Polish Institute of International Affairs, asked him about the prospects for oil production from the so-called. shale.

It's about layers of rock containing kerogen - organic substances hundreds of millions of years that have begun to transform the oil and gas. But these processes remain at this early stage that the kerogen is called "immature oil." Its resources in the world are three times larger than those of normal oil and has been for decades the world's attempts to extract oil from shale. With little success, because you had to build mines or drill deep shafts to get the rocks to the surface and then undergo a complex treatment. Another method recently developed Shell, which produces crude oil, heating the underground deposits of oil shale.

Now there may be a breakthrough. Several years ago, Americans have developed innovative methods of extracting gas from shale rock in which the ancient organic matter has turned into gas. To this end, it gets special drilling and pumped into the ground under high pressure mixture of water, sand and a bit of chemicals in order to "loosen" the rock, which produces fine cracks then gas. The results were shocking: U.S. gas production has increased rapidly and the United States for two years has become the largest producer in the world, in America, gas is three times cheaper than in Europe.

few weeks ago, Americans revealed that they adapted the method to use shale oil shale. - Totally changed the gas industry, and do not be surprised if a few years and change the oil business - told the AP Aubrey McClendon, CEO of Chesapeake Energy, which is shale gas tycoon. For two years, the company operates a shale deposits bituminous Bakken in North Dakota and thus oil production in the U.S. has increased - for the first time in 23 years! It costs more expensive than the normal exploitation of oil reserves? - But still cheaper than production from offshore fields in the Gulf of Mexico - said Mark Papa, CEO of relevance Resources, who first used the gas used in drilling slate. Such companies come and unemployment in North Dakota is only 3.8 percent., While the average in the United States is 9 percent.

game goes for a great rate, because according to geologists from the oil resources of oil shale in the U.S. are up to three times greater than conventional reserves Saudi Arabia. In five years from the Bakken and other fields of oil shale can be mined 100 million tons of oil annually - more than a day from the Gulf of Mexico. And in 10 years of shale oil could replace half the oil supply is imported, for which the U.S. last year paid 260 billion dollars. Then a barrel of oil cost on Wall Street in 1978 dollars. And now it is over 100 dollars.

Among the leaders of this new revolution oil is Estonia. At this Baltic country today accounts for nearly 80 percent. world production of oil shale!

They became a symbol of independence of Estonia. The first of the mine as early as 1916, but on a larger scale operation began when Estonia gained independence after the disintegration of the Russian empire. In 1924, he opened a power plant in Estonia, oil shale, and seven years later, the refinery producing fuel from these rocks. When under the Molotov-Ribbentrop Pact in 1940, the Soviet Union occupied the Baltic states, Estonia has retained power in the shales. And again, they became the basis for the energy independence of Estonia, regained its independence after the collapse of the Soviet Union.

State energy company Eesti Energia, known worldwide as Enefit, shale-fired power plants from its own mines produce 97 per cent. electricity consumed in Estonia. After regaining independence, Tallinn also cared about the modernization and development of these exceptional plants.

Enefit in January signed a contract for nearly 1 billion euros from the French company Alstom, which is to design and build two power units on the slate of 300 MW each, meeting the new requirements of the EU to reduce CO2 emissions. They will build them employees of the Polish company Alstom.

With its patent-Estonians also moved into the world. Three years ago, signed a agreement on the operation and construction of oil shale-fired power plant them in Jordan, which has some of the world's largest deposits of such rocks. And in early March Enefit signed an agreement to acquire all shares in the company of the American Oil Shale Exploration Company, holding deposits of oil shale in Utah. Already in mid-March, the transaction has accepted the Committee on Foreign Investment in the U.S.. In four years the Estonians are to prepare the bed in Utah to operate, and then build a plant producing slate almost 3 million tons of fuel annually.

to pay off? - Yes, if Oil will cost more than $ 60. per barrel - considers the head Enefit Liiva Sandor, quoted by AFP. His future Estonian company does not bind only to energy. - We are working on technology that will be used in cars of fuel from oil shale - Liiva said.

Less enthusiastic is the European Commission. Brussels on Thursday announced that it will take a magnifying glass the plans of Tallinn, which will grant new power plants on the slates of 75 million euros of state aid per year. Estonia says that otherwise fails to provide the energy security because it is isolated from other EU countries. But Commissioner Joaquin Almunia fears Estonia plans that may discourage investment in other energy technologies, and to distort competition, because the operator would receive the support of the shale power plant. And according to Almunia, "Oil shale is one of the largest fuel CO2 intensity and well beyond the Eesti Energia has no power producer in the world do not use them on a large scale."

Is Tallinn defend their plans and Alstom to convince the European Commission that will design the plant in line with EU requirements? If not, then Estonia will have to replace its shale gas from Russia. But if you defend Tallinn shale, and the announcement of another U.S. energy revolution come true now, it will be cut off Estonia coupons from his stubbornness.