24
Dec

No single tax in 2017 in Poland

There will be no changes in Polish tax system in terms of introducing a single tax in 2017, Prime Minister Beata Szydło announced in an interview for the Polish Press Agency (PAP). The declaration comes just a few days after a similar comment from the vice Prime Minister and Minister of Development and Finance, Mateusz Morawiecki.

After a few months of discussion regarding possible consolidation of multiple taxes into a single contribution, which, reportedly, would have included a tax increase for businesses and people with higher incomes, the idea is being dropped by the government. Laten on, it was decided that the final decision will be announced before end of year.

“After a very in-depth analysis, we came to a conclusion that we won’t introduce it (the new tax system – LexPoland) at this point, mostly because of entrepreneurs. In a moment in which we care about rapid economic growth, in which the program of responsible development is a priority, we need to create the most favorable conditions for investments.” – Szydło said.

The decision should be positively received by the financial markets.

Companies pay 19% of the income tax in Poland. The sales tax (VAT) rate is 23%.

 

Read more about other changes in taxes here.

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