Poland/Economy/Taxes
Warsaw (Puls Biznesu) – Sejm, the lower chamber of the Polish Parliament, approved of amendments for the PIT and CIT laws, and rejected some of the tax reductions proposed by Senat, the upper chamber. Now, Poland’s President will decide whether to approve of the laws. If he signs the documents this week, they will come into force. If he fails to that in time, the amendments will not be implemented, as there will be no time to publish them in special law monthly Dziennik Ustaw.
The most important change in PIT law provides for the fourth tax rate for people whose income exceeds PLN 600 thousand (EUR 141 thousand) a year. The planned rate amounts to 50 percent. Experts believe that the richest Poles will avoid paying the tax and pay taxes within the CIT programme, with 19 percent flat rate for business.
(PLN 1 = EUR 0.235)