Budget draft envisages additional zl.2.3 billion from new electricity tax

A draft of the 2002 budget obtained by the Rzeczpospolita daily shows that t he government plans to increase tax revenue next year by some zl.8 billion. Changes in Value Added Tax (VAT) rates are estimated to bring the total VAT income to zl.57.42 billion, an increase from this year of 7.3%. A new excise duty on electricity is expected to earn an additional zl.2.3 billion through the imposition of a production tax of zl.0.02 per kwh. Addressing a press co nference yesterday, Finance Minister Marek Belka likened the budget draft to a dike holding back the floods. He said that in total expenditure next year will increase by some 6.5%. (Rzeczpospolita, p. B2) P.J.