Gov't keeps fossil fuel tax for 2016
14:07
The Ministry of Finance has decided to maintain fossil fuel tax in 2016, Puls Biznesu daily reported. Following the news, the stock value of KGHM dropped by over 4 percent.
During the election campaign, Beata Szydło said she wanted to abolish the mineral tax on silver and copper which was introduced by Civic Platform (PO) in 2012 to tax Poland's copper mining giant KGHM.
"[KGHM] is the jewel in the crown of the Polish economy. Companies like this should be promoted and not burdened like the government is doing," Szydło said before the last election. "If we were to form the next government, we will liquidate this unfair tax and will do everything we can to make sure that all income KGHM generates is invested in the development of the company," she added.
Puls Biznesu informed that KGHM will pay a PLN 1.5 billion tax this year and PLN 1.1 billion next year.
