Budget boosted by billions thanks to excess VAT and excise duty

The fiscal office is likely to post a several billion surplus in collected taxes, which is a clear sign of a bullish economy. According to Janusz Jankowiak, chief economist with BRE Bank, it is an excellent signal to lower taxes, but convincing the Finance Ministry to do this will be difficult. The budget needs to currently collect zł.10 billion in indirect taxes which, "Should not be a problem," said Jankowiak, who also believes that if the government decides to lower taxes, then it should cut personal income tax (PIT) rates rather than CIT, as the gap between the two would be too high, and unify VAT rates. This would give a strong stimulus to the economy. (Puls Biznesu, pp. 1, 4) M.M.