The article is the result of research on the response of the tax policy of the Visegrad Group (V4: Poland, Czechia, Slovakia, Hungary) to the crisis related to COVID-19. The research methodology was based on thorough and comprehensive analysis of legislative changes (that is, legal acts) that have been introduced in all the countries. The initial analysis of the fiscal policy conditions in these individual countries indicated a variety of possibilities in terms of shaping their tax-related activities. The article analyses changes in taxes signalled by the V4 countries right before COVID-19 as well as changes made in order to counteract the effects of the pandemic. The diversity and specificity of tax policy measures adopted in each V4 country allow to draw conclusions. Each state has introduced their own tax policy adjusted to the specific character of the country. The changes were made under time pressure, which often affected the effectiveness of the adopted tax measures. The effects of the changes introduced to each tax policy were not systemically coordinated.

Massive social spending programs embarked by the Government of Poland after 2015 generated pressures to improve tax collection. On top of the well-publicized campaign aimed at narrowing substantial 'VAT gap', fiscal authorities announced substantial progress in countering CIT avoidance, including international profits shifting. Indeed, over the 2016–2019 period nominal CIT revenues — stagnating for previous four years — increased by nearly 50% (from 1.4% to 1.7% of GDP). The purpose of this article is to examine the reasons for the increase in CIT revenues using the analysis of aggregated statistical data, including a set of data on 'large' CIT taxpayers (over EUR 50 million in revenues). The analysis shows that before 2019 the improvement was a micro- rather than macroeconomic effect, with just 30 companies accounting for almost 40% of the net effect. Moreover, those 30 companies were hardly the paragons of international CIT avoidance — for example, the group included the largest State Owned Enterprises (SOE). On the contrary, in 2019 improved CIT collection was achieved by the small and medium taxpayers. All in all, the obtained results suggest that there are no reasons for complacency, as the problem of CIT avoidance by multinationals remains unsolved.

The subject-matter of the article is a holding company used by entities with cross-border capital links.
Employment of this mechanism is a significant solution adopted in tax optimization strategies. The tax effectiveness of this solution is closely connected with certain tax jurisdictions in Europe. Undoubtedly, it is an innovative hybrid solution. This article analyses the multifaceted nature of the practice of using a holding company. The specific nature of the
tax legislation applicable in individual European countries (with particular attention paid to tax havens) is of key importance for the tax effectiveness of a holding company.