Exporters and public rush to beat new VAT law
However, sales may stagnate once the act becomes law. Exporters are scrambling to sell as many goods as possible before the introduction of the new law, because they fear that they may have to wait longer for VAT refunds after May 1. As a result lorries are queuing for 40 hours at the border, as compared to the usual 8 hour wait. Meanwhile, the domestic sales of cement are also surging, up 40% year-on-year in the first quarter. This is due to the increase of VAT from 7% to 22% on May 1. However, Andrzej Tekiel, president of the Association of Cement and Lime Producers (SPCiW) fears that in the second half of May sales could drop sharply. For the whole year, he expects sales to grow between 3-4%. (Parkiet, p. 7) T.J.