Investors receive property tax exemption in 2006

APA - Austria Presse Agentur
opublikowano: 05-10-2005, 14:27

Warsaw (Puls Biznesu) – The Polish Ministry of Finance has prepared a ruling allowing counties to exempt investors from property tax. The ruling must be approved of by the European Commission. It is going to be valid only next year.

Warsaw (Puls Biznesu) – The Polish Ministry of Finance has prepared a ruling allowing counties to exempt investors from property tax. The ruling must be approved of by the European Commission. It is going to be valid only next year.

Today, there are big problems with property tax exemptions for investors because there is no legal basis. It’s good that we will have one soon. Investment will be more attractive, Sebastian Mikosz, deputy CEO of PAIIZ, the Polish investment agency commented.

The ruling is directed to companies, which invest or create new jobs.Today, it takes several months to receive property tax exemption. When the ruling is implemented, counties will not have to ask the permission of the European Commission in every case, Justyna Przekopiak, deputy head of local tax department in the Ministry of Finance explained.

The ruling is of great importance to 2,500 Polish counties and Polish and foreign investors.In order to receive this exemption, the company must have at least 25 percent of share in the investment. The project or new jobs must be sustained for at least 5 years, Maciej Szpakowski from PricewaterhouseCoopers said.The maximum level of the subsidy may amount to 50 percent of the value of the investment (in some cities 40 or only 30 percent.

Poland/Enterprises/Investment/Law

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Podpis: APA - Austria Presse Agentur

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