Biznes za granicą

SPÓŁKA HOLDINGOWA W LUKSEMBURGU (SOPARFI)

Co to jest SOPARFI?

W 1990 r. Luksemburg wprowadził do prawa krajowego europejską dyrektywę w sprawie spółek dominujących i spółek zależnych, która ma zastosowanie do spółek będących rezydentami podlegającymi nieograniczonemu obowiązkowi podatkowemu. Od tego czasu Luksemburg opracował nowy „rodzaj” firmy, znany jako „Company of Financial Participations” (SOPARFI). 

Spółki zagraniczne? Holdingi? Optymalizacja podatkowa? Bezpieczeństwo? Naucz się więcej na kursach online Induni x Oniszczuk&Associates:

1. Międzynarodowa optymalizacja ryzyka i ochrona majątku. Lista rajów podatkowych

2.Budowanie krajowych i międzynarodowych struktur spółkowych

3. Dlaczego tradycyjna optymalizacja podatkowa już nie działa? 4. Pozapodatkowe korzyści z zakładania spółek zagranicą

SOPARFI są to spółki dedykowane do pełnienia funkcji holdingowych i finansowych
w grupach kapitałowych. SOPARFI nie jest jednak „wyjątkowym” pod względem formy podmiotem, bowiem zakładanym w formie „zwykłej” spółki posiadającej osobowość prawną. 

Czy się zatem różni SOPARFI od „zwykłej” spółki? 

Kluczowym aspektem przy SOPARFI jest możliwość znacznego zmniejszenia obciążeń podatkowych, ograniczając działalność tego typu spółki do działalności polegającej na posiadaniu przez SOPARFI udziałów w innych zależnych spółkach. Działalność SOPARFI przewiduje w szczególności zwolnienie z podatku dla dywidend, a wypłacanych przez spółki, w których jednostka dominująca posiada udziały. SOPARFI ma możliwość zwolnienia od podatku zysków kapitałowych z tytułu obrotu udziałami oraz instrumentami finansowymi. 

Co więcej, pod pewnymi warunkami, prawo luksemburskie umożliwia przeszacowanie otrzymanych przez SOPARFI aktywów do wartości rynkowej dla celów podatkowych, co może pozwolić na uniknięcie obciążeń podatkowych w sytuacjach, gdy nie jest możliwe efektywne skorzystanie ze zwolnienia podatkowego na sprzedaży danego aktywa. Przy odpowiednim zarządzaniu i właściwej strukturyzacji transakcji tego typu spółka może obracać aktywami nie generując obciążeń podatkowych związanych z występowaniem zysków na przeprowadzonych transakcjach. Zgodnie bowiem z prawem luksemburskim, opodatkowaniu podlegać będzie jedynie marża SOPARFI, tj. różnica pomiędzy przychodami z tytułu odsetek, a kosztami związanymi z pozyskaniem kapitału celem finansowania.

Z uwagi na to, że SOPARFI traktowana jest jak luksemburski rezydent podatkowy, poza korzyściami wynikającymi z lokalnych zwolnień podatkowych, SOPARFI będzie mogła korzystać, że wszystkich ulg i zwolnień wynikających z zawartych przez Luksemburg traktatów o unikaniu podwójnego opodatkowania oraz zwolnień wynikających
z implementacji na terytorium UE dyrektyw o zwolnieniu dywidend (tzw. Parent Subsidiary Directive) oraz odsetek i należności licencyjnych (tzw. Interest and Royalty Directive). 

KORZYŚCI PODATKOWE PRZY SPÓŁCE SOPARFI

SOPARFI podlega podatkowi od majątku netto w wysokości 0,5%, ocenianego dnia 1 stycznia każdego roku na podstawie szacunkowej zrealizowanej wartości jego (światowych) aktywów netto. Ten podatek nazwa się „podatkiem majątkowym netto”i oblicza się go od tzw. „wartości jednostkowej”. Wartość jednostkowa jest zwykle określana na podstawie wartości firmy ocenianej na podstawie bilansu sporządzonego na dzień 31 grudnia poprzedniego roku. Kiedy wartość aktywów netto firmy przekracza 500 milionów euro, to podatek majątkowy netto jest pobierany w wysokości 0,05% obliczonej na podstawie podstawy opodatkowania powyżej 500 milionów EUR.

SOPARFI podlega corocznemu minimalnemu podatkowi od majątku netto. 

Dla firm, których suma aktywów finansowych, zbywalnych papierów wartościowych i lokat bankowych, wierzytelności wobec podmiotów powiązanych lub akcji przekracza: 90% ich całkowitego bilansu lub 350 000 EUR podatek ten wynosi 4.815 EUR (w tym 7% dodatku solidarnościowego). Dla pozostałych firm minimalnych podatek majątkowy wynosi od 535 EUR do 32 100 EUR (w tym 7% dodatku solidarnościowego). Minimalny podatek w wysokości 32.100 EUR jest należny w przypadku przedsiębiorstw, których bilans przekracza 30 milionów EUR. Minimalny podatek majątkowy jest jednak pomniejszany o podatek dochodowy od osób prawnych, który ma być zapłacony przez SOPARFI.

OPODATKOWANIE DYWIDENDY / ZYSK KAPITAŁOWY: ZWOLNIENIA

Prawo podatkowe w Luksemburgu co do zasady przewiduje dla dywidend opodatkowanie na poziomie 15%, chyba że stosuje się zwolnienie, takie jak to polegające na wypłacie dywidendy  spółce SOPARFI. Zwolenie podatkowe dla SOPARFI z dywidend otrzymanych (w tym z tytułu likwidacji dywidend), a także zysków kapitałowych (w tym zysków z wymiany walut), może nastąpić pod pewnymi warunkami. W przypadku niespełnienia wymogów dotyczącego minimalnego okresu posiadania udziałów oraz ich wartości, obowiązuje zwolnienie w wysokości 50%, z tym zastrzeżeniem, że dostępne jest ono dla dochodów z dywidendy, czyli z wyłączeniem likwidacji dywidend i przysługuje ono, gdy pozostałe warunki zostaną spełnione. 

Maciej Oniszczuk

Zobacz, również

426 Komentarze

  1. Very interesting details you have noted, appreciate it for putting up.

  2. I am always browsing online for posts that can assist me. Thx!

  3. I needed to post you that little bit of observation to say thanks once again for your personal magnificent pointers you’ve featured in this article. It is quite remarkably generous of people like you to give openly just what a number of us might have marketed as an e book to generate some dough for themselves, most notably given that you could possibly have done it if you ever decided. These points as well served to be a fantastic way to fully grasp other people have similar fervor much like my own to know the truth lots more pertaining to this issue. I am certain there are millions of more fun opportunities in the future for individuals who looked at your blog post.

  4. Thanks for your own labor on this web site. My mother take interest in participating in research and it is simple to grasp why. My spouse and i notice all regarding the powerful way you produce valuable tips via your website and in addition recommend response from the others on this subject then our own princess is undoubtedly studying a whole lot. Take pleasure in the rest of the year. You have been performing a terrific job.

  5. My spouse and i felt now fulfilled that Ervin could deal with his investigations out of the ideas he got out of the web page. It’s not at all simplistic just to be giving for free helpful tips that men and women could have been making money from. And we do know we have the blog owner to appreciate because of that. Most of the explanations you’ve made, the easy blog menu, the friendships you assist to engender – it’s everything excellent, and it’s assisting our son and our family do think that content is brilliant, and that’s extremely fundamental. Many thanks for all the pieces!

  6. My spouse and i have been really joyous that Jordan managed to do his reports through your precious recommendations he had through the web pages. It is now and again perplexing to just find yourself handing out secrets and techniques which people today may have been selling. So we know we need the writer to give thanks to for that. The most important illustrations you have made, the simple web site navigation, the relationships you will help to instill – it’s got most overwhelming, and it’s really leading our son in addition to the family reason why the situation is exciting, which is really mandatory. Thank you for the whole lot!

  7. I’m just commenting to let you be aware of of the fabulous discovery my cousin’s daughter experienced going through your site. She even learned lots of issues, most notably how it is like to have a very effective giving mindset to have many others just gain knowledge of chosen grueling matters. You really did more than our desires. Many thanks for distributing the important, healthy, educational and as well as easy thoughts on the topic to Gloria.

  8. I enjoy you because of all of your effort on this blog. Debby delights in conducting internet research and it’s easy to see why. A number of us hear all about the compelling manner you create effective guides by means of the blog and boost contribution from other ones about this area of interest and my child has been becoming educated a great deal. Enjoy the remaining portion of the new year. You’re carrying out a fabulous job.

  9. My wife and i have been so peaceful when Michael managed to finish up his researching via the precious recommendations he obtained using your web site. It is now and again perplexing to simply happen to be making a gift of tactics which often some others might have been trying to sell. We recognize we need you to thank for this. The type of illustrations you made, the straightforward website navigation, the relationships your site make it easier to instill – it is most sensational, and it is letting our son in addition to us reckon that this subject matter is interesting, which is certainly tremendously serious. Thanks for the whole lot!

  10. I am glad for writing to make you know what a nice encounter my wife’s girl had studying your web site. She mastered several pieces, which include what it’s like to possess an awesome helping nature to let other individuals very easily know precisely some problematic subject matter. You truly exceeded people’s expectations. Thank you for presenting these practical, trusted, informative and in addition fun tips about this topic to Kate.

  11. Thanks for your whole work on this website. My niece takes pleasure in working on research and it is simple to grasp why. We all notice all relating to the powerful ways you render vital tricks via your website and therefore welcome response from website visitors on this topic while our own simple princess is without question understanding so much. Take pleasure in the rest of the year. Your performing a wonderful job.

  12. You got a very fantastic website, Gladiolus I observed it through google. https://glaucomamedi.com glaucoma medications

  13. You got a very fantastic website, Gladiolus I observed it through google. https://glaucomamedi.com glaucoma drugs

  14. tadalafil buy – tadalafil 10mg buy tadalafil online cheap

  15. tadalafil pills: http://tadalafilonline20.com/ tadalafil 40 mg daily

  16. what is tadalafil tadalafil online
    tadalafil gel

  17. propecia testosterone levels – http://finasteridepls.com/ finasteride pills

  18. medications without a doctor’s prescription medications without a doctor’s prescription

  19. generic drugs without doctor’s prescription: https://genericwdp.com/ buy cheap prescription drugs online

  20. buy cheap prescription drugs online: https://genericwdp.com/ buy prescription drugs online without

  21. generic pills without a doctor prescription: https://genericwdp.com/ generic drugs without doctor’s prescription

  22. compare propecia prices uk – http://propechl.com/ what is propecia

  23. cheap generic drugs from india india pharmacy

  24. amoxicillin vs clindamycin ampicillin amoxicillin can you take mucinex with amoxicillin how many times a day do you take amoxicillin 500 mg?

  25. buying viagra online buying viagra online
    best place to buy generic viagra online

  26. online doctor prescription for viagra buy viagra online canada
    п»їviagra pills

  27. lasix renal scan furosemide without a prescription furosemide 40 mg weight loss when lasix doesn’t work for chf

  28. azithromycin price walmart azithromycin 500mg coupon azithromycin 250 mg side effects what does azithromycin 500mg treat

  29. tadalafil online canadian pharmacy – buy tadalafil canada viagra vs tadalafil

  30. buying viagra online online doctor prescription for viagra
    online doctor prescription for viagra

  31. where to buy viagra buying viagra online
    order viagra online

  32. ivermectin oral liquid ivermectin virus durvet ivermectin pour on for cattle how often can ivermectin sheep drench be used on a dog

  33. clenbuterol vs albuterol albuterol over the counter mexico ventolin hfa 90 mcg inhaler side effects how often to take albuterol

  34. buying viagra online viagra over the counter walmart
    viagra over the counter walmart

  35. best place to buy viagra online viagra without a doctor prescription
    when will viagra be generic

  36. viagra from canada viagra cost
    over the counter viagra

  37. where to buy viagra online п»їviagra pills
    100mg viagra

  38. viagra cost viagra 100mg price
    viagra cost per pill

  39. best place to buy generic viagra online viagra cost per pill
    viagra cost per pill

  40. Dzięki za wskazówki dotyczące naprawy kredytu na temat tego wszystkiego blogu. Co ja chciałbym rada ludziom jest zrezygnować z tej mentalności że mogą teraz i zapłać później. As a as be a} społeczeństwo {my|my wszyscy|my wszyscy|wielu z nas|większość z nas|większość ludzi} ma tendencję do {robienia tego|robienia tamtego|próbowania tego|zdarzyć się|powtórz to} dla wielu {rzeczy|problemów|czynników}. Obejmuje to {wakacje|wakacje|wypady|wyjazdy wakacyjne|wycieczki|rodzinne wakacje}, meble, {i|jak również|a także|wraz z|oprócz|plus} przedmiotów {chcemy|chcielibyśmy|życzymy|chcielibyśmy|naprawdę chcielibyśmy to mieć}. Jednak {musisz|musisz|powinieneś|powinieneś chcieć|wskazane jest, aby|musisz} oddzielić {swoje|swoje|to|twoje obecne|swoje|osoby} chcą {od wszystkich|z potrzeb|z}. {Kiedy jesteś|Kiedy jesteś|Kiedy jesteś|Jeśli jesteś|Tak długo, jak jesteś|Kiedy} pracujesz, aby {poprawić swój kredyt|poprawić swoją zdolność kredytową|zwiększyć swój kredyt|zwiększyć swój kredyt|podnieś swój ranking kredytowy|popraw swój kredyt} wynik {musisz zrobić|zrobić|faktycznie potrzebujesz|naprawdę musisz} dokonać kilku {poświęceń|kompromisów}. Na przykład {możesz|możesz|możesz|możesz|będziesz mógł|| możesz|prawdopodobnie możesz} robić zakupy online {aby zaoszczędzić pieniądze|aby zaoszczędzić pieniądze|aby zaoszczędzić} lub {możesz przejść do|może się zwrócić|może odwiedzić|może obejrzeć|może sprawdzić|może kliknąć} używane {sklepy|sklepy|detaliści|sprzedawcy|punkty sprzedaży|dostawcy} zamiast {drogie|drogie|drogie|drogie|drogie|drogich} domów towarowych {dla|w odniesieniu do|dotyczących|odnoszących się do|przeznaczonych dla|do zdobycia} odzieży {strzykawki insulinowe 1ml|strzykawki tuberkulinowe|strzykawki|strzykawka|strzykawki insulinowe|strzykawki do insuliny|strzykawki trzyczęściowe tuberkulinowe|strzykawka tuberkulinowa|strzykawka insulinowa|strzykawka do insuliny|strzykawka trzyczęściowe tuberkulinowa}.

  41. finasteride 1 mg finasteride tablets
    prescription drugs

  42. Cozdzy – http://virviaga.com/ usa viagra sales

  43. generic propecia uk prosteride

  44. paxil generic paxil hair loss
    canadian drug prices

  45. where to buy propecia finasteride 5mg

  46. viagra without a doctor prescription https://viagrapills100.com/ where to buy viagra online

  47. 100mg viagra https://viagrapills100.com/ best over the counter viagra

  48. best place to buy generic viagra online https://viagrapills100.com/ viagra over the counter

  49. buy generic 100mg viagra online https://viagrapills100.com/ when will viagra be generic

  50. viagra cost https://viagrapills100.com/ buy viagra online usa

  51. buy ed pills cheap ed pills usa
    ed pills without a doctor prescription

  52. ed pills without a doctor prescription ed pills without a doctor prescription
    cheap ed pills from canada

  53. cheap ed pills cheap ed pills
    buy prescription drugs online legally

  54. order ed pills treatment with drugs
    cheap ed pills

  55. Qolopu – ivermectin price usa Gyxwuk rjhsqn

  56. prednisone cost canada: prednisone generic brand name – buy prednisone mexico

  57. http://gabapentinst.com/# neurontin 4000 mg

  58. Rbgvtd – furosempi.com Oquisv otrezg

  59. neurontin capsules 100mg: buy gabapentin – neurontin 800 mg cost

  60. https://prednisonest.com/# how to get prednisone without a prescription

  61. Mrbita – purchase clomid Nweizd xwltit

  62. hydroxychloroquine 600 mg: buy plaquenil – hydroxychloroquine where to buy

  63. Teowxx – cialis 100mg online Pylxyc ngshev

  64. prednisone 2.5 mg daily: generic prednisone – 200 mg prednisone daily

  65. https://gabapentinst.com/# neurontin 300 mg mexico

  66. http://zithromaxproff.com/# cost of generic zithromax
    azithromycin zithromax

  67. http://zithromaxproff.com/# average cost of generic zithromax
    can i buy zithromax over the counter in canada

  68. http://zithromaxproff.com/# buy zithromax online cheap
    zithromax 600 mg tablets

  69. Uycecy – thesis statements Iukmkp cmmtdp

  70. http://zithromaxproff.com/# zithromax online usa
    zithromax 250 mg tablet price

  71. buy ceftin: order doxycycline
    ciplox price

  72. vantin for sale: order terramycin online
    tinidazole online

  73. clindamycin tablets: buy cefixime online
    cephalexin price

  74. myambutol price: order suprax
    chloramphenicol tablets

  75. generic pills india: india pharmacy usa pharmacy india

  76. india pharmacy mail order: india pharmacy trusted india online pharmacies

  77. Iamymb – viagra francais Tmglgj fjrrpl

  78. india pharmacy mail order: buy prescriptions from india pharmacy buy prescriptions from india pharmacy

  79. order prescription drugs from india: united pharmacy india cheap online pharmacies from india

  80. india pharmacies online: all generic meds from india order prescription drugs from india

  81. mail order erectile dysfunction pills: best ed pills pills for erectile dysfunction

  82. best male erectile dysfunction pill: pills for erectile dysfunction erectile pills canada

  83. male erectile pills: ed meds cialis pills

  84. ed meds: viagra pills kamagra pills

  85. kamagra pills: order erectile dysfunction pills cialis pills

  86. best erectile dysfunction pills review: order erectile dysfunction pills online order erectile dysfunction pills

  87. over the counter viagra cvs viagra online no prescription viagra without a prescription

  88. viagra without prescription viagra no prescription viagra without prescription

  89. viagra walgreens viagra without a doctor prescription usa viagra without prescription

  90. buying viagra online buying viagra online without prescription viagra without prescription

  91. https://doxycyclinest.com/# doxycycline medication

  92. https://amoxilst.com/# price of amoxicillin without insurance

  93. https://diflucanst.com/# buy generic diflucan

  94. http://clomidst.com/# clomiphene tablets

  95. Ohrsbn – vardenafil pills Fkzkws sqvoyw

  96. https://doxycyclinest.com/# online doxycycline

  97. https://diflucanst.com/# cost of diflucan prescription in mexico

  98. https://doxycyclinest.com/# purchase doxycycline online

  99. http://diflucanst.com/# diflucan pills prescription

  100. medicine metformin 500: buy metformin – metformin pharmacy

  101. Dynwfw – tadacip 20 tablet Janxmw hhacwd

  102. buy metformin online usa: buy metformin – generic metformin rx online

  103. furosemide 40mg: buy lasix – lasix generic name

  104. price of metformin 500mg tablets: cheap metformin – cost of 1000mg metformin

  105. Vuvdwl – avanafil 50 Cimfma broqku

  106. online ed pills: buy ed pills – pills for ed

  107. paxil headache: cheap paxil – paxil for menopause

  108. paxil headache: 5 mg paxil – paxil for social anxiety

  109. where to buy tadacip 20 – tadacip india buy tadacip 10

  110. ventolin discount: ventolin – how much is ventolin in canada
    tadalafil 20mg

  111. cheap propecia pills: cheap propecia – cost of propecia
    order tadalafil

  112. celebrex 200 mg india – celebrex capsule 100mg price celebrex generic coupon

  113. buy ventolin pharmacy: cheap ventolin – buy ventolin in mexico
    tadalafil online

  114. order valtrex online: valacyclovir without a doctor’s prescription – generic valtrex cost
    tadalafil pills

  115. positive reinforcement gun dog training community acquired pneumonia guidelines 2007 , community acquired pneumonia quiz. positive quotes quarantine pregabalin price buy lyrica 150 , positive quotes quora positive quotes love yourself mahoning youngstown community action partnership , community action partnership alabama community jeff? environment variables mac community acquired pneumonia common pathogens, planning process case study friends vs best friends.
    community blood center appleton , your community synonym followers japanese drama cast positive and negative yin yang.

  116. stromectol coronavirus – ivermectin for humans ivermectin 2%

  117. generic propecia usa: buy propecia – generic propecia without prescription
    tadalafil without a doctor’s prescription

  118. microsoft office software versions drawing program website to buy autocad lt office accounting software free download. autocad 2020 software requirements law office software for mac engeeeneringu#$sssaunnplus , office jukebox software. new software 2020 for pc, office excel software free download irpf 2020 software download 2020 design software for sale. office software gГјnstig kaufen office software for macos, office software shop legit.

  119. ventolin tablets buy: blue albuterol inhaler – ventolin usa
    tadalafil 20mg

  120. valtrex generic sale: valtrex for sale – valtrex medicine for sale
    tadalafil generic cost

  121. us price albenza – cheapest prescription nexium how much is topamax

  122. by prednisone w not prescription – prednisone 30 mg coupon order prednisone

  123. ed meds online ed drugs – erection pills online
    erection pills that work

  124. purchase genuine viagra online – professional viagra reviews how can i get viagra pills

  125. non prescription ed pills ed drugs – how to cure ed
    ed medication

  126. generic viagra 100mg price – generico del viagra pharmacy price comparison viagra

  127. lyrica 150 – lyrica 150 mg price lyrica generic brand

  128. global pharmacy canada canadian pharmacy online cialis – foreign pharmacy no prescription
    rate online pharmacies

  129. canadian pharmacy without prescription ed drugs – canadian pharmacy coupon
    canada pharmacy online legit

  130. viagra tablets for sale http://prescriptionhim.com/ – viagra without a prescription

  131. nexium 40 price in india – zofran tablets in india topamax capsules price

  132. http://costpills.com – pfizer viagra 100mg Oektqbb

  133. ivermectin cream cost – ivermectin india ivermectin 2%

  134. stromectol generic – ivermectin stromectol ivermectin 4000

  135. fastest delivery of generic cialis: erectile dysfunction medications – buy cheap cialis overnight

  136. zofran tablets cost – 8mg zofran tablet zofran daily

  137. buy cialis toronto: buy cialis cheaper online – generic cialis canadian

  138. viagra over the counter in us https://viadrprescription.com/# viagra without a doctor prescription

  139. buy ivermectin usa – ivermectin australia ivermectin order online

  140. is ivermectin safe for people https://ivermectineffects.com/# ivermectin for humans for sale

  141. coronavirus cure https://iwermectin.com/ ivermectin for humans dosage

  142. stromectol pills https://ivermectinovercounter.com/ ivermectin for humans

  143. generic viagra overnight generic viagra overnight – viagra without a doctor prescription usa

  144. ivermectin 2 – ivermectin tablets dosage buy ivermectin pills

  145. viagra dosage generic viagra available – how does viagra work

  146. viagra without doctor prescription canadian viagra – 100mg viagra without a doctor prescription

  147. viagra pills viagra without doctor prescription – female viagra

  148. buy cialis tadalafil0 with pay pal: buy cialis online at lowest price cialis 20mg low price
    buy cialis insurance

  149. http://fildenahim.com fildena 100 инструкция

  150. buy cialis now: cost of cialis without insurance п»їhow much does cialis cost with insurance
    buy cheap cialis overnight

  151. otc ed pills for type 2 diabetes – erectile dysfunction treatment if have cvd otc male ed pills

  152. how to buy cialis online from canada: buy cialis insurancecialis online without prescription generic cialis daily pricing
    cialis 20mg low price

  153. buy cialis online europe: buy cialis doctor buy cialis online at lowest price
    where can u buy cialis

  154. levitra prescription cost https://levitrair.com vardenafil 40 mg

  155. treating ed – plus ed pills reviews do all natural ed pills work

  156. strengths of albuterol nebulizer solution https://ventolinhfaer.com asthma inhalers names

  157. cialis 20mg for sale: order original cialis online п»їhow much does cialis cost with insurance
    buy cialis tadalafil uk

  158. albuterol inhaler http://albuterolotc.com/ generic proventil inhaler

  159. viagra pills price http://viwithout.com how long does viagra last

  160. ivermectin price comparison: generic stromectol – ivermectin oral

  161. Generic cialis coupons http://cialisee.com/ cialis med dapoxetine

  162. doxycycline 500mg: buy cheap doxycycline online – doxy 200

  163. hoe snel en hoe lang werkt viagra – sildenafil zonder recept wat gebeurt er als vrouwen sildenafil nemen

  164. Omqsyrh mzetnb http://doctorxep.com viagra without prescription

  165. doxylin: doxycycline – doxy

  166. fszm23 nzuowz https://iveramectin.com ivermectin over counter

  167. viagra generica – nombre generico del viagra viagra precio

  168. cialis 20 mg cost: buy cialis canadian how to buy cialis online from canada

  169. buy cialis online europe: cialis tadalafil portugal buy cialis tadalafil0 with pay pal

  170. ndfuod dcpwfu https://iveramectin.com ivermectin for sale uk

  171. buy cialis tadalafil0 with pay pal: cheapest generic cialis australia buy cheap cialis uk

  172. bactrim online canada – bactrim cream over the counter cheap bactrim online

  173. Occlv75 http://himshairloss.com cheapest generic propecia 5mg india fast shipping no prescription

  174. cheapest generic cialis australia: cheapest generic cialis australia cialis 20mg low price

  175. trusted canadian pharmacy: mexican pharmacy online – canadian pharmacy tampa

  176. female cialis online – cialis professional gГ©nГ©rique 20 mg generic cialis 5mg canada

  177. zjqa15 luxzig https://iveramectin.com legitimate mexican pharmacy online

  178. where can i buy cialis without a prescription – how to get ciails without a doctor can i buy cialis in uk

  179. pharmacy website: canadian pharmacy meds – capsule online pharmacy

  180. https://allergyd.com/ flonase samples for healthcare professionals

  181. soft tabs cialis – cheap super active cialis tadalafil coupon discount

  182. prices pharmacy: canadian online pharmacy no prescription – canadian pharmacy discount coupon

  183. buy cialis philippines: how to buy cialis online from canada cialis online without prescription

  184. duloxetine without a prescription – buy brand cymbalta duloxetine 30 mg price

  185. buy cialis ebay: where can i buy cialis without a prescription buy cialis with paypal

  186. levothyroxine 0.025 mcg – levothyroxine online prices levothyroxine 125 mcg coupon

  187. My programmer is trying to convince me to move to .net from PHP.
    I have always disliked the idea because of the expenses.
    But he’s tryiong none the less. I’ve been using WordPress
    on various websites for about a year and am anxious about switching
    to another platform. I have heard excellent things about blogengine.net.
    Is there a way I can transfer all my wordpress content
    into it? Any kind of help would be greatly appreciated! https://tadalafil.cleckleyfloors.com/

  188. yhe27b http://sildenafilhim.com sildenafil 100mg how long does it last

  189. buy cialis online viagra: cialis for daily use cialis tadalafil portugal

  190. Ahrhzmz http://doctorxep.com viagra 100 price in india

  191. Wow, amazing blog structure! How long have you ever been blogging for?
    you made blogging glance easy. The overall look of your
    website is wonderful, as well as the content! http://vidalista.buszcentrum.com/

  192. amoxicillin for sale in us – buy amoxil online buy amoxicillina 500 mg from mexico

  193. lvgpfd https://sildenafilhim.com sildenafil citrate tablets 100mg

  194. Cialis super active for cheap when does cialis come off patent cialis without perscripiton

  195. generic amoxicillin online amoxicillin generic – how to get amoxicillin over the counter

  196. I every time used to read post in news papers but now as I am a user of internet therefore from now I am using net for articles or
    reviews, thanks to web. http://antiibioticsland.com/Cipro.htm

  197. Cialis lilly price cialis 2.5 mg can i take 40 mg of
    cialis?

  198. overcoming ed male enhancement pills – foods for ed

  199. Cialis w/o perscription dose of cialis lexapro and cialis

  200. vardenafil online us – cheapest place to buy vardenafil generic vardenafil images

  201. ifmbqd https://ycialisy.com price of cialis at cvs

  202. cost for generic valtrex purchase valtrex – generic for valtrex

  203. It’s genuinely very complicated in this active life to listen news on Television, thus I
    just use internet for that purpose, and get the most up-to-date information. https://hhydroxychloroquine.com/

  204. Outstanding post however , I was wanting to know if you could write a litte more on this subject?
    I’d be very thankful if you could elaborate a little bit further.
    Appreciate it! https://canadiandrugstorerx.com/antibiotics/flagyl.html

  205. vardenafil side effects in men – buy vardenafil professional online buy vardenafil oral jelly

  206. wellbutrin brand name price wellbutrin xl – wellbutrin prescription australia

  207. What’s up to every one, the contents existing at this web page are genuinely awesome for people
    knowledge, well, keep up the nice work fellows.

  208. Size yayılan takipçi hizmetleriyle basit bir şekilde instagram profilinizi
    büyütebilirsiniz.
    Şirketin hizmetlerinden faydalanarak dilediğiniz kadar takipçiye ulaşabilirsiniz, instgaram takipçi satın AL
    işlemi oldukça basit ve kısa süreçte size teslim edilmektedir.

    Yapmanız gereken tek şey Takip2018 e sadece giriş yaparak dilediğiniz kadar takipçi isteği yapabilirsiniz.

    Size uygun paketi seçmeniz halinde dilediğiniz alabilir ve sadece izlersiniz.
    Benzersiz hizmet vererek size daha çeşitli paketler önerebiliyor.

  209. I was suggested this blog by my cousin. I’m not sure whether this post
    is written by him as nobody else know such detailed
    about my trouble. You are wonderful! Thanks! http://droga5.net/

  210. hpmhvh https://clomid4all.com clomid for sale in mexico

  211. online pharmacy mexico – vipps approved canadian online pharmacy canadian pharmacy adderall

  212. best antibiotic for prostate infection keflex antibiotic – bactrim online without rx

  213. ed medications online ed meds online without doctor prescription – ed pills online

  214. cialis sale singapore – tadalafil 2.5 mg tablets india buy cialis pills

  215. amoxicillin 500 coupon cheap antibiotic – price for amoxicillin 875 mg

  216. Hi Dear, are you truly visiting this web site regularly,
    if so after that you will definitely get good experience. http://cleckleyfloors.com/

  217. I have read so many content regarding the blogger lovers but this article is truly a fastidious post, keep it up. http://cialllis.com/

  218. Emkz34v Ekpx29b http://canadian2pharmacy.com over counter drugs that get you high

  219. http://gabenhim.com/ gabapentin 600 mg price walmart

  220. zithromax canadian pharmacy cheap antibiotic – medicine amoxicillin 500

  221. where can i buy viagra over the counter usa – viagra order buy canadian generic viagra online

  222. Ubef42h https://lasixotc.com how much lasix can you take daily

  223. drug prices comparison ed pills online pharmacy best ed pills that work

  224. vardenafil viagra online – vardenafil online canada online apotheke vardenafil rezeptfrei

  225. medicine for erectile overcoming ed over the counter ed drugs

  226. Hmm is anyone else encountering problems with the images on this
    blog loading? I’m trying to find out if its a problem on my end or if it’s the blog.

    Any feed-back would be greatly appreciated. https://www.herpessymptomsinmen.org/where-to-buy-hydroxychloroquine/

  227. vardenafil online sale – vardenafil viagra online order vardenafil generic

  228. buy real viagra online viagra without a doctor prescription usa buy generic 100mg viagra online

  229. Hey There. I found your blog using msn. This is an extremely smartly written article.
    I’ll make sure to bookmark it and return to read more of your useful info.
    Thanks for the post. I’ll certainly comeback. https://atadalafil.online/

  230. buy generic 100mg viagra online viagra without a doctor prescription usa mexican viagra

  231. stromectol over the counter – order stromectol online stromectol tablets for humans

  232. What’s up colleagues, its enormous piece of writing about
    teachingand completely defined, keep it up all the time. https://hydroxychloroquinee.com/

  233. cost of female viagra – where can i get viagra prescription 10 sildenafil

  234. cheap doxycycline online buy doxycycline online – vibramycin 100 mg

  235. when will viagra be generic https://viagrabng.com/# buy generic 100mg viagra online

  236. pharmacie viagra viagra achat prix d’une boite de viagra en pharmacie viagra 50 ou 100

  237. order chloroquine phosphate chloroquine tablet price – chloroquine

  238. online pharmacy without prescription – cialis online cost reliable online pharmacy

  239. viagra humour vente de viagra en pharmacie produit naturel qui remplace le viagra combien coute le vrai viagra

  240. I am genuinely glad to glance at this website posts which contains plenty of
    helpful facts, thanks for providing such statistics. http://hydroxychloroquined.online/

  241. viagra online uk acheter du viagra en ligne how long does viagra last quand et comment prendre du viagra

  242. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates.
    I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this.
    Please let me know if you run into anything. I truly enjoy reading
    your blog and I look forward to your new updates. http://herreramedical.org/azithromycin

  243. aralen chloroquine tablet price – buy aralen

  244. definition de viagra viagra on line acheter viagra generique pas cher combien de temps dure le viagra

  245. effet viagra viagra original comment faire du viagra fait maison ou acheter du viagra forum

  246. Hi there Dear, are you really visiting this web page regularly, if so afterward you will
    definitely obtain pleasant knowledge.

  247. Hi, after reading this remarkable piece of writing i
    am also delighted to share my knowledge here with colleagues.

    My web site; frun-test.sakura.ne.jp

  248. Hmm it appears like your blog ate my first comment (it
    was super long) so I guess I’ll just sum it up what I had written and say, I’m
    thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new
    to everything. Do you have any suggestions for rookie blog writers?
    I’d really appreciate it. http://herreramedical.org/ivermectin

  249. cialis 100 mg tadalafil cialis 20 mg cialis a quoi ça sert cialis avec ou sans ordonance

  250. If some one desires to be updated with hottest technologies after that he must be
    pay a visit this web site and be up to date every day.

  251. cheap chloroquine chloroquine tablet price – order chloroquine phosphate

  252. pharmacy cost of prednisone – price of prednisone buy prednisone 10mg tabs

  253. neurontin brand name neurontin without prescription – neurontin 3

  254. Heya! I’m at work browsing your blog from my new iphone 3gs!
    Just wanted to say I love reading your blog and look forward to
    all your posts! Carry on the great work!

  255. best place to buy viagra online: viagra 100mg price – viagra without a doctor prescription

  256. Howdy! I could have sworn I’ve visited this site before but
    after going through some of the posts I realized it’s new
    to me. Anyways, I’m definitely happy I found it
    and I’ll be bookmarking it and checking back regularly!

    Feel free to visit my site :: Kodo Detox Patches Reviews

  257. vardenafil generic pics – vardenafil 20mg generic cialis vardenafil

  258. I love your blog.. very nice colors & theme.
    Did you design this website yourself or did you hire someone to do it for you?
    Plz reply as I’m looking to construct my own blog and would like to find out where u got this from.
    kudos http://antiibioticsland.com/Amoxil.htm

  259. viagra price: viagra – how much is viagra

  260. Thank you.

    Youseful blog. Good post.

  261. I was just searching for this information for some time.

    After 6 hours of continuous Googleing, finally I got it in your website.
    I wonder what is the lack of Google strategy that do not rank this
    kind of informative web sites in top of the list.
    Normally the top websites are full of garbage.

    Also visit my web-site … Kodo Detox Patch

  262. lyrica medicine price – lyrica 10 mg buy lyrica online uk

  263. natural drugs for ed ed medications – canadian online pharmacy viagra

  264. You can certainly see your enthusiasm in the work you write.
    The world hopes for more passionate writers such as you who aren’t afraid to mention how they believe.

    All the time follow your heart.

    Also visit my web-site – http://duna-anapa.net.ru/modules.php?name=Your_Account&op=userinfo&username=SalterCaitlyn

  265. https://stromectolhome.com/ ivermectin for humans where to buy locally near me

  266. zithromax pills online – order zithromax 250mg zithromax liquid

  267. prednisone side effects dogs panting

    imply myocardial infarction product

  268. drugs for ed buy prescription drugs without doctor – global pharmacy

  269. price of hydroxychloroquine 200 mg

    toward ankylosing spondylitis galaxy

  270. prednisolone tablets 4mg – prednisolone buy online prednisolone drug

  271. Thank you for sharing your info. I really
    appreciate your efforts and I am waiting for your next post thank you once
    again.

  272. buy stromectol stromectol how much it cost – ivermectin 50 mg

  273. priligy side effects for men

    create subdural hematoma government

  274. free dating sites without email address

  275. dapoxetine costco coupon

    dependent barium study taxpayer

  276. keto crack chicken

  277. complete post, i love it

  278. albuterol sulfate inhalation aerosol

    user esterified estrogens accomplish

  279. nevada governor hoarding hydroxychloroquine

    operate giant cell arteritis scandal

  280. For most recent information you have to visit internet and on web I found this site as a most excellent website for hottest updates.

  281. When someone writes an piece of writing he/she keeps the plan of a user in his/her brain that how a user can understand it. Therefore that’s why this paragraph is great. Thanks!

  282. I really liked this post i read your blog pretty often, and you’re always coming out with a lot of great stuff. I contributed this on my fb, and my followers reallyliked it.

  283. Hello my friend! I wish to say that this post is awesome, nice written and come with approximately all vital infos. I would like to peer extra posts like this!

  284. Appreciation to my father who told me concerning this blog, this blog is actually awesome.

  285. Excellent article. I’m going through a few of these issues as well..

  286. It’s an amazing article in favor of all the web visitors; they will get benefit from it I am sure.

  287. This site was… how do you say it? Relevant!! Finally I’ve found something which helped me. Thanks!

  288. I really liked this post i actually read your blog fairly often, and you’re constantly coming out with a lot of great stuff. I embedded this on my fb, and my followers really liked it.

  289. My brother recommended I might like this blog. He was totally right. This post actually made my day. You can not imagine just how much time I had spent for this info! Thanks!

  290. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

  291. Thanks in favor of sharing such a nice thinking, piece of writing is pleasant, thats why i have rea it completely

  292. If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  293. Very nice post. I just stumbled upon your blog and wanted to say that I’ve really enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!

  294. Good post! We are linking to this great article on our site. Keep up the great writing.|

  295. I like what you guys are up too lotopyeer. Such smart work and reporting! Carry on the superb works guys I have incorporated you guys to my blogroll. I think it will improve the value of my web site 🙂

  296. Hello, this weekend is fastidious designed for me, as this point in time i am reading this fantastic educational article here at my residence.

  297. Hi it’s me, I am also visiting this site on a regular basis, this web page is genuinely pleasant and the viewers are really sharing fastidious thoughts.

  298. This is wonderful content! I’m swept away by your presentation and distinctive viewpoints. I agree with so significantly of your article. I’ll come back.

  299. I was curious if you ever thought of lotopyeer changing the layout of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or 2 pictures. Maybe you could space it out better?

  300. Very energetic post, I enjoyed that a lot.

  301. You should be a part of a contest for one of the highest quality blogs on the web. I will recommend this web site!

  302. Welⅼ Ӏ really likеd studying it. This tip offered bʏ you іѕ very constructive for correct planning.

  303. I’m gone to inform my little brother, that he should also go to see this webpage on regular basis to take updated from latest reports.

  304. Hello! I could have sworn I’ve been to this website before but after looking at some of the posts I realized it’s new to me. Anyhow, I’m definitely delighted I discovered it and I’ll be book-marking it and checking back regularly!

  305. As a Newbie, I am constantly searching online for articles that can aid me.

  306. Undeniably believe that which you stated. Your favorite reason appeared to be on the net the easiest thing to be aware of.

  307. Generally I do not learn article on blogs, but I wish to say that this write-up very forced me to try and do it! Your writing style has been amazed me. Thank you, very nice post.

  308. stromectol antibiotic

    joint natural recoverers dominant

  309. Rozporządzenie Ministra Nauki i Szkolnictwa Wyższego z
    dnia 12.03.2020r.(Dz.U z 2020r. poz. 418) zmieniające rozporządzenie w sprawie dyplomów doktorskich, dyplomów habilitacyjnych i legitymacji doktoranta

    Zgodnie z art. 279 ust. 1 Ustawy z dnia 3 lipca 2018 r.
    Przepisy wprowadzające ustawę – Prawo o szkolnictwie wyższym
    i nauce (Dz. U. z 2018 r., poz. 1669 z późn. zm.):

    Studia doktoranckie rozpoczęte przed rokiem akademickim 2019/2020 prowadzi się na zasadach dotychczasowych, jednak nie dłużej niż do
    dnia 31 grudnia 2023 r.

    Zgodnie z ustawą z dnia z dnia 20 lipca 2018 r.

    Prawo o szkolnictwie wyższym i nauce (Dz. U. z 2018 r., poz.
    1668 z późn. zm.) w Politechnice Częstochowskiej utworzono Szkołę Doktorską, która przejmuje
    kształcenie doktorantów. Rekrutacja do Szkoły
    Doktorskiej rozpoczyna się od roku akademickiego 2019/2020.

    Studia doktoranckie są studiami trzeciego stopnia, na które byli przyjmowani kandydaci posiadający kwalifikacje drugiego stopnia określone w
    art. 2 ust.1. pkt. 18g ustawy Prawo o szkolnictwie wyższym lub byli beneficjentami programu „Diamentowy
    Grant,” o którym była mowa w art. 187a ust.
    1.

    Studia doktoranckie kończą się uzyskaniem kwalifikacji
    trzeciego stopnia określonych w art. 2 ust. 1. pkt. 18h ustawy Prawo o szkolnictwie wyższym.

    Studia doktoranckie prowadzone są jako studia stacjonarne i niestacjonarne.
    Stacjonarne studia doktoranckie są bezpłatne. Niestacjonarne studia doktoranckie były odpłatne.
    Studia doktoranckie trwają nie krócej niż 2 lata
    i nie dłużej niż 4 lata i realizowane są w oparciu o zatwierdzone przez Rady Wydziałów plany i programy
    studiów.

    Studia doktoranckie w Politechnice Częstochowskiej prowadzone są przez jednostki organizacyjne w zakresie następujących
    dyscyplin naukowych:

    Pcz

  310. Keep up the wonderful piece of work, I read few posts on this internet site and I think that your weblog is rattling interesting and has got sets of excellent info .

  311. priligy in mexico

    reveal dermal papilla together

  312. Thanks designed for sharing such a nice thought, piece of writing is fastidious,
    thats why i have read it entirely

  313. Its like you read my thoughts! You seem to know
    a lot approximately this, like you wrote the guide in it or something.
    I feel that you simply could do with some percent to power the message house a bit, but other than that, that is excellent blog.
    An excellent read. I’ll definitely be back.

  314. Ahaa, its nice discussion regarding this piece of writing here at this
    website, I have read all that, so now me also commenting at this place.

  315. This article will help the internet viewers for creating new weblog or
    even a weblog from start to end.

  316. I do not even know how I ended up here, but I thought this post was
    good. I do not know who you are but certainly you’re going
    to a famous blogger if you aren’t already 😉 Cheers!

  317. ivermecta trihydrate

    comparison substance abuse advance

  318. Cytotec En Gynecologie

  319. hydroxychloroquine price

    fly subendocardial myocytes besides

  320. How Good Is Kamagra

  321. take stromectol with food

    battle anticoagulant freeze

  322. Ahaa, its good discussion concerning this article here at this blog, I have read all that, so at this time
    me also commenting at this place.

    Usos
    Usos web pcz
    usos
    usos web pcz
    usos pcz

  323. Kamagra Deutschland Net

Dodaj odpowiedź

Twój adres email nie zostanie opublikowany. Pola, których wypełnienie jest wymagane, są oznaczone symbolem *

Więcej z kategorii: Biznes za granicą