Dear Sirs,
please accept out warmest invitation to yet another business breakfast, which will be held at our Warsaw offices. This time our hot topics will include: “Wind project permanent asset value impairment? What about financial statements? Rationalising real property taxation”.
The meeting will be split into two parts. During the first we will talk about asset value impairment and practical evaluation aspects will be presented for a possible asset value impairment faced by wind farms. Whereas in the second, our experts will outline a safe, tried and tested method to effectively reduce real property tax. The solution assumes a restructuring character and requires certain conditions to be met, which will be discussed in detail during the meeting.
MEETING AGENDA:
1. Asset value impairment acc. to IFRS / The Accounting Act – regulatory framework and practical aspects
• When are the premises for conducting a test satisfied?
• What are the general principles for asset value impairment?
• Disclosing asset value impairment in financial reports
• What next?
2. Practical aspects of asset value impairment tests for operating wind farms and wind projects
• Fair value less costs of sales
– „The most current transaction” and comparability of different assets
– Changes to significant economic conditions vs. wind power
• Value in use
– Primary valuation mechanisms
– Market assumptions
– Factors which affect value in use in the largest extent
3. Consolidation of the production portfolio with a reduction to the real property tax base
• Wind farm consolidation in a smaller number of project specific companies as a means for OPEX reduction
• Consolidation methods entitling to a reduction of the real property tax base
• Methods used to neutralise the reduced value for depreciation in CIT
• Tax avoidance clause – is there anything to worry about?
The meeting will be conducted in Polish. We encourage you to take part in this meeting and/or to pass this invitation to appropriate colleagues.
We are looking forward to seeing you!
Wojciech Sztuba and Krzysztof Horodko
Managing Partners
TPA Poland
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R.S.V.P. Please confirm your attendance by 24 October 2016 by sending an email to the adress mentioned below. To complete your registration please provide the following details in the body of the message: name, surname, address, e-mail, telephone number, company name, job title and/or insert your e-mail signature with the above information.
Contact details: Witold Przybylski; witold.przybylski@tpa-group.pl; tel.: +48 61 63 00 500
ATTENTION: Participation in the event is free of charge. There is a limited number of available places and the order of bookings is decisive. Booking confirmations will be sent via e-mail shortly before the event date.
